How to Create Greater Financial Stability in Your Consulting Firm
Part 2 of a 5 Part Strategic Benchmarking Series for Professional Services
According to the SPI Research’s 2018 Professional Services Maturity Benchmark Report, Best-of the Best consulting firms produced significantly more net profit – 26.3% compared to 13.5% for average management consulting firms. I’m interested in hearing how your firm’s net profit compared.
Understanding your firm’s top financial and operational KPIs and comparing them to the Best-of-the-Best firms can be an eye opening experience. SPI’s Finance and Operations Executive Summary examines the 27 key performance measurements for consulting firms, including revenue, margin and operating expense.
Now is the time to revisit your 2018 business plans to ensure sales pipelines can support your forecasted growth. As CFO or finance executive, now is the time to clean up backlog, and review overhead and projected new hires.
SPI 2018 Professional Services Maturity Benchmark Report
Finance & Operations Executive Summary Metrics