How To Improve Insight In Mid-Size Professional Service Firms

Posted by fergus-gilmore on October 31, 2013

improve business insight

Has knowing exactly what's going on across the entire operation become a distant memory for your firm? If so, you are not alone. For ambitious project-based firms everywhere, insight can often fade away as an organisation grows, meaning holistic management and operational control become a thing of the past.

This can often leave companies stuck in a rut: They become too big for its partners or management to collaborate around a conference table and so rely on the same fragmented processes that have also ended up growing in size. The result is a lack of 'joined up thinking'.

More silo’d spreadsheets, more meetings within teams and more disjointed discussions between consultants all mean there comes a time when synergy and visibility breaks down. This could ultimately lead to management losing control of the key considerations of their business, for instance setting profitable rates, maximising billing time effectively, matching resources to projects and reducing unnecessary administration.

There comes a time in every firm’s growth cycle when its systems need to be reviewed. At this point it's good to know that 360 degree insight can be reinstated with an integrated enterprise resource planning system (ERP), which will give management the 'big picture' visibility it once leveraged for growth as a smaller operation.

Choosing to work with a system that is scalable to grow with your firm could be all the action you need to take control again. What is essential is that it centralises your firm’s administration and processes data in ‘real time’ so that it can provide an accurate and up-to-date snapshot of the operation from which to base solid business decisions and ensure long term profitability.