May 27, 2017

Professional services: The light at the end of the tunnel

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Since the economic crisis in 2008, professional services has been in state of recovery—with some years not looking so great. Even up until 2013, many industries were still recovering and PS wasn’t an exception. Growth rate for professional services organizations (PSOs) were flat-lining at a meager 5%.

It looks like that is turning around.

According to Technology Services Industry Association (TSIA), at the start of 2015, PSOs were already experiencing an uptick at 13%. It’s looking like there is a slow (but steady) growth rate coming our way; like there’s a light at the end of the tunnel.

In the TSIA and Changepoint joint white paper, The State of Professional Services Today, we take a look at what’s changed in the last three years since we were in recovery mode, and what to look for moving forward. It also breaks down market and technology trends that are influencing the change in services rendered, as well as solutions being used to support that change.

Looking for a sound bite? The Changepoint excerpt, Professional Services: Key Metrics Forecast, outlines four PS metrics to keep an eye on as our industry regains its strength (and then some). Those include:

  1. Moving Beyond Level 2 services
  2. PS Growth Rates
  3. List Rates and Discounting
  4. Financial Performance

To regain their momentum, PSOs will have to reconsider the technology that’s in place and rely on the steady growth—as defined by the above metrics—to gauge success.

It’s an exciting time for professional services. Is your PSO ready?

Give me the details on the four PS metrics.

Actually, take me straight to the full story!

 

About Greg Davidson

Greg has more than 25 years of experience in the information technology industry, encompassing software support, development, presales, professional services, and product management. In addition to his 14 years with Changepoint, he has held various leadership positions in different market verticals within the IT area including health, educational, and print and electronic media industries.

Greg joined Changepoint in 2000 in the Professional Services division to help garner a larger and growing customer base by providing best practice implementation consulting. Through the next four plus years Greg helped large global customers harness the Changepoint capabilities to help drive adoption and ensure innovation and positive return on investment to their business.

With 10+ years in Product Management, Greg is responsible and has ownership for the Changepoint product which include new and existing Customer, Marketing, and Analyst engagements. Greg’s interactions with both potential as well as existing customers are an important component in establishing, managing and executing on strategy for the overall success of Changepoint.