New Report from Deltek Reveals What Professional Services Business Leaders Can Do to Prepare for Industry Change, Greater Competition and Emerging Technologies
Findings from “Insight to Action” report indicate that CEO’s and business leaders don’t feel prepared for regulatory risk and the risk of disruptive technology
Herndon, VA – May 15, 2018– Deltek, the leading global provider of software and solutions for project-based businesses, recently released the report Insight to Action – The future of the professional services industry. The report looks at the challenges the professional services industry faces and sets clear action points for firms that want to stay ahead of the curve.
The professional services industry has always been deeply rooted in ground-breaking expertise and innovation. But as Deltek’s research shows, many firms are having difficulty keeping pace with evolving operational models, client pressures and new technologies which are disrupting the industry.
Deltek carried out this research to gain a deeper understanding about the current and future state of the professional services industry as a whole, and the key opportunities and challenges that firms are facing. The results show that:
- 91% of CEOs don’t feel that their business is prepared for regulatory risk
- 54% of business leaders say that increasing profitability is a top priority moving forward
- 81% of business leaders feel unprepared for the risk of disruptive technology
In addition, the report identifies the key business and industry opportunities and threats from the survey data of 700 senior decision-makers including divisional heads to CEOs, CFOs and COOs, from more than a dozen countries around the world including the United States, United Kingdom, Australia, Germany and Sweden. These business leaders have worked for a variety of companies including boutique consultancies up to enterprises with revenues of over $1B.
“Deltek commissioned this study because it’s important that business leaders have the latest concrete context as they navigate change and mitigate risk,” said Perry Hardt, Senior VP and CMO at Deltek. “Many of the business leaders we surveyed are concerned with their firm’s readiness to take full advantage of the most current operational model and latest technology transformational trends. They expressed the need to strengthen internal systems, technology capabilities and processes, to enhance lead generation, improve resource planning, ensure legislative compliance and support efficient control over increasingly complex projects. The survey results clearly show that C-Level and other business leaders need more foresight to prepare effectively for what lies ahead.”
Insight to Action reveals current business challenges and provides guidance and recommendations across various areas of focus including navigating change, regulatory risk, taming project complexity, managing talent and protecting profit margins – enabling professional services firms to attack issues head on.
Visit Deltek’s website here for more information or a copy of the report.
Deltek is the leading global provider of enterprise software and solutions for government contractors, professional services firms and other project-based businesses. For decades, we have delivered actionable insight that empowers our customers to unlock their business potential. 23,000 organizations and millions of users in over 80 countries around the world rely on Deltek to research and identify opportunities, win new business, recruit and develop talent, optimize resources, streamline operations and deliver more profitable projects. Deltek – Know more. Do more.® www.deltek.com