The Professional Services sector is large and diverse, made up of firms offering expert services in their own domains. The industry is not just about big companies; there are also many smaller businesses and mid-sized firms. As a professional services firm ourselves, we cater to numerous businesses within this industry.
Professional Services companies encounter various challenges, key among them being the swift pace of technological advancements and workflow transformations. While law firms, accounting practices, and financial planning providers are experts in their respective domains, they may find it challenging to adapt to emerging technologies such as AI, ML, automation, and RPA. If they don’t, they risk falling behind competitors who do. Furthermore, the struggle to hire and retain skilled personnel like accountants, bookkeepers, paralegals, and virtual paraplanners can also pose a significant challenge. Those that fail to outsource such roles might find it difficult to compete. These risks and threats can be mitigated by embracing change and evolution, an area where we excel. We have successfully assisted many Professional Services businesses navigate these challenges.
For decades, Fortune 1000 Professional Services companies, especially large accounting firms, have sought the support of consulting services, digital transformation companies, and staffing providers. They were the trendsetters in outsourcing and offshoring. Large international law and financial advisory firms have also made use of top-tier consulting and outsourcing entities. However, small to mid-sized Professional Services businesses have been less quick to adopt external aid. This is rapidly changing as more companies engage staff augmentation services and embrace digital transformation tools such as RPA, AI, and ML to enhance their competitiveness and increase profits.
Valenta brings a wealth of experience in leveraging technology and innovations pivotal to the modern Professional Services sector. Our proven expertise extends to CPA firms, Legal Practices, and Financial Planners. With Managing Partners stationed in major cities worldwide, many of whom have a background in the Professional Services sector, we maintain a robust network. Collaborating with both onshore and offshore consultants, developers, and outsourced staff managers, our partners are focused on delivering exceptional services to our clients.
Below are the top challenges faced by today’s Professional Services sector. Valenta can assist with all of these challenges through a combination of Process Consulting, Digital Transformation and Staff Augmentation :
At Valenta we can aid with today’s challenges and provide services that address Accounting Firms, Legal Practices and Financial Planners needs. We can help firms automate their front end to drive billings growth. We can also utilize RPA to perform many back office tasks required for Accounting, Financial Planning and Law and decrease margin pressure as a consequence. We can also assist Professional Services companies when it comes to staffing. We can help them retain their existing staff by automating work functions and giving them better analytics to be more productive. We can also help them retain existing employees by providing virtual staff for more repetitive routine work to help them to be more client facing and strategic. We provide new economy and information economy roles like Big Data Specialists, Developers, Cyber Security Engineers, Cloud Engineers, RPA Developers, Data Security Analysts, and more. Valenta also provides traditional BPO services like accounting, bookkeeping, administration, billing staff, paralegals, paraplanners, digital marketers, IT staff, software administrators and more.
Valenta can help Professional Services companies in the following ways :
Professional Services companies cannot afford to waste time or have inefficiencies in their organizations. Process issues appear frequently in organizations with a high volume of tasks, like the ones in Professional Services. We look for waste in all processes and have staff available for process mapping, task mapping and business optimization.
Excellence in execution is essential. Great ideas and goals are only the beginning. Successfully implementing new strategies, projects, and plans is the difference between success and failure. We help our Professional Services clients flawlessly execute.
Innovation is a key to success for all businesses. The competition, customers, and the business environment are always changing. Innovation is how Professional Services companies can stay ahead of the competition and keep pace with large firms. We help our clients to be nimble and agile.
Developing and executing the right growth strategies is critical. Our clients benefit from bringing in our expertise for hire. We can provide actionable strategies for our Professional Services clients plus detailed plans for how to get desired outcomes and results.
There is a tremendous need for all companies to automate and adapt to new technologies and ways of doing business. Professional Services companies are no different. Having skill sets inhouse to pull this off can be challenging. Valenta implements solutions such as RPA and Conversational-AI for businesses of all sizes at competitive pricing. Offloading this important function to us, helps Professional Services companies focus on their core business.
In today’s environment a business must grow or die. One of the most painful challenges is sustainable and profitable growth. Our team of partners, consultants, developers, and back office staff can implement a myriad of growth strategies for Professional Services companies to strike the right balance of growth and profits.
The bottom line is crucial. Maintaining profitability and healthy billings is something every firm must pay close attention to. Professional Services companies are no different. Valenta can identify opportunities for efficiency gains and can provide ROIs for all client projects.
If current employees are under-skilled or not able to fulfill the requirements of positions, Valenta’s team of skilled and fully trained individuals can meet requirements. Hiring is time consuming and there are not always skills available within budget. Staff Augmentation can bridge the gap of competencies and economics.
Marketing in the digital age is constantly changing and evolving and it can be hard to keep up. Professional Services companies need to get the word out and address their prospects and clients. Lack of expertise or lack of budget is not an issue with Valenta’s fractional full-stack marketing services. There is a multitude of economical marketing options that are effective when implemented correctly.
Valenta provides Consulting services that can be of great value to the Professional Services segment. We can assist companies in this space streamline their front end, back office, operations, billing, client support, and HR processes for peak efficiency and the lowest cost. Savings generated can be devoted to enhancing infrastructure, upgrading legacy software platforms or partner bonuses.
Valenta Digital Transformation services can streamline operations, plus customer-facing and back-office processes by leveraging RPA and Conversational AI for Professional Services companies. We can also leverage RPA and AI for finance, legal, and accounting workflows. RPA, ML and AI can be deployed as a service with flexible SaaS models. All Valenta services are easy to scale up and ramp down which can be of great value to Professional Services companies.
Professional Services companies can also benefit from Valenta Staff Augmentation services. Hard to fill Software Developers, and other Technology roles can be supplied for better operations and decision-making. Back office roles like accountants, bookkeepers, paralegals, virtual assistants for paraplanning, IT staff, digital marketing, and more can be filled quickly and cost-effectively so that the maximum amount of resources can be dedicated to client-facing positions and other strategic roles.
Many processes lend themselves to automation in the Professional Services space. Please find the following Heat Maps highlighting areas in Finance, Accounting and Legal that are the best places to start with automation and digital transformation in the Professional Services segment.
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Professional Services businesses can benefit from Valenta services. We have partners and staff onboard who understand this sector and who have experience with Professional Services. Everything we do at Valenta is about helping companies focus on and have time for what they do best and their core mission. We do this through process consulting, digital transformation, the automation of tasks, and by providing staff augmentation. Valenta is focused exclusively on SMB clients, typically enterprise customers with 10-1,000 employees. We have Managing Partners located in cities across the US, Canada, the UK, the EU, and Australia. Our Managing Partners work with other onshore consultants, plus offshore consultants, developers, and managers of outsourced staff to deliver the best services to our clients.Please reach out here to locate a Managing Partner in your area.