Is Your Consulting Firm Truly Data-Driven?

Posted by Amy Champigny on August 21, 2018

Financial management in professional services

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It is not enough to simply say that your organisation is ‘data-driven,’ you need to prove it with an innovative approach to data analysis, in order to discover the actionable insights your organisation needs to create effective growth strategies. That’s where harnessing the power of information can help your organisation truly become data-driven. In this two part blog on data-driven financials we’ll focus first on ways to integrate data and analysis into your strategic planning and benchmarking activities and then, in part two, on specific key performance indicators to help you understand how well your organisation is executing those plans.

According to the SPI 2018 Benchmark Survey, effective planning draws on the collective intelligence and vision of the firm. Top performers have mastered this process by converting the decision-making process from a tactical activity to a strategic one. Most of us struggle to free ourselves from the cycle of reactivity while proactive planning remains a dream not yet realised. So, how do you get from point A (reactive) to point B (proactive)? Really, it’s all about alignment. Planning and budgeting offers an ongoing opportunity to align siloed areas in the firm to ensure that strategic targets for different operating units are in sync with the overarching growth plan of the organisation.


 

2018 SPI Report


11th Annual Professional Services Maturity Benchmark Report


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2018 Professional Services Maturity Benchmark Report

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