Professional Services
Professional service companies are eyeing a bigger share of profits. But for that to happen, they must fashion portfolios capable of braving volatile markets.
Contact usChallenges faced by the procurement team
Supply-side blindspots
Professional services suffer from insufficient visibility of supply chain activities, a key reason for cost escalations.
- Get the real-time insights you need to prepare highly accurate estimates and identify potential per-element costs for your project to ensure it stays within budget
- Recognize potential risks, assign a value to the financial impact of each risk type, and develop plans to preempt and eliminate such threats
- Track project progress in real time with clean at-a-glance dashboard views of multiple project metrics to stem the menace of cost overruns
Opaque billing systems
High revenue leakage, resulting from legacy data capture processes, is leaving the C-suite uneasy.
- Modernize your time-tracking with a performance dashboard capable of visualizing key KPIs – e.g., utilization, yearly revenue per billable resource, profitability at firm/project levels
- Precisely clock the time your resources spend on core income-generating activities (versus routine administrative tasks) to ramp up productivity levels in the near-term
- Leverage AI/ML algorithms to more precisely work out the talent pool size needed on a project to ensure optimal allocation of scarce resources
Suboptimal portfolio strategies
Tough call: Devising portfolio strategies to ride out market volatility
- Weigh up every single service offering in the portfolio to ensure the most favorable allocation of people, time, and money to improve profitability and rankings
- Embrace the inorganic route to expand into promising markets and regions with high market-growth potential in the mid-to-long term while tallying up costs and risks
- Discover ways to curb spends on lackluster offerings with low or negative returns and which constitute an unjustified drag on resources
Industries
Professional Services
A deep scan of portfolios will reveal the market potential of each constituent service, based on which firms can optimally earmark resources.
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A Californian professional services firm doubles profits and jumps five spots in global rankings – on the back of our portfolio formulation. You shouldn’t miss the growth train either!
Talk to Our ExpertFeatured Case Study
How SpendEdge Helped CPG Giant Streamline Contract Manufacturer Selection Process
Challenge: Faced with intense competition and the need to improve profit margins, our client turned to SpendEdge for assistance in overcoming their business challenges. One of the main strategies involved migrating cost-intensive operations to low-cost destinations.
Solution: Our team at SpendEdge assisted the client in streamlining their contract manufacturer selection process. Leveraging our expertise and market research methodology, we identified key contract manufacturers for the client’s ready-to-eat product line.
Result: The client successfully addressed their business challenges and achieved improved profit margins and reduced operating costs. All the while, also enhancing product quality and expanding manufacturing capabilities.
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Make Informed Procurement Decisions with SE Insights
Mismatches between your needs and what your supplier delivers could weaken business performance. By collaborating intensely with suppliers, you can ensure your penchant for KPIs grows on them as well.
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