As a professional services firm, your clients are expecting more from you every day. Your employees are working harder than ever, stretching the limits of their work-life balance. While meeting client demands is a necessity, so is modernizing your workplace in order to better support their needs. Digitizing operations is now a priority, allowing employees to work more collaboratively and effectively. Succession planning and employee flexibility are changing the way you view and conduct business. Whether you’re looking to maximize operating efficiency, maintain profitability or nurture meaningful client relationships, Withum can help you stand tall above the competition.
Professional Services Industry Challenges and Trends
Your clients are the foundation of your business. Ensuring their happiness is your main priority. Measuring their satisfaction while correcting where you’re falling short will help you not only sustain your business but grow it too.
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Digital solutions create a smarter way of doing business. Digitizing operations enhances client service and experience. Implementing cloud-based solutions increases efficiency and collaboration. Utilizing the right technology will help you do more with less.
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Steady cash flow is a constant challenge for professional services firms. There’s a time lag between cash going out for operational costs and coming back in as your clients make payments. Implementing the right processes and controls can help alleviate the strains this puts on your business.
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In this highly-competitive environment, you’re seeing declining margins, so reducing overhead is becoming especially important. Keeping talent with experience in US GAAP, government accounting compliance regulations, FAR or DCAA takes away valuable time you can spend on running your business.
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Finding the leaders of tomorrow can be difficult. Building the plan for that transition is just as hard. Professional service firms are constantly evaluating their talent and succession plans to ensure the longevity of their business for years to come.
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Services for the Professional Services Industry
We are here to help you stand out against the competition. Professional services firms choose Withum to help with their advisory, tax and audit needs.
Professional Services Accounting Services
- Profitability analysis
- Budgeting and forecasting
- Cash flow management
- Internal control review
- Pension and profit-sharing plans
- Business succession planning
- Estate planning
Professional Services Advisory Services
- Operations review
- Business valuation
- Information systems consulting
- Bank financing assistance
- Mergers and acquisitions
- Partners and employee compensation plans
- Forensic/fraud services
- Litigation support services
- Process Automation
Leadership
Featured Insights
Case Study: How Withum Digitized Ke’Aki Technologies’ Invoice Process
Download a PDF of this case study. Manual Processes to Streamlined Digitization Executive Summary Ke’aki Technologies contacted Withum for help with digitizing their accounts payable (AP) invoice approval processes were […]
Top Considerations for Delivering an Efficient Hybrid Workplace
Over the last two years, the importance of optimizing efficiency and productivity in the Hybrid Workplace has become an accelerated priority. Technical innovations in automation can help streamline our work, […]
Art of the ESOP Transaction: Qualified Service Providers
Recent studies and polls by the Institute for the Study of Employee Ownership and Profit Sharing at Rutgers University concluded that ESOPs are good. They are good for business and […]