Sebastian Hartmann

Next Generation Management for Professional Services

Category: Business Models

A Transformation Roadmap for Professional Services and Capital Markets Firms
March 3, 2023

A Transformation Roadmap for Professional Services and Capital Markets Firms

For today’s professional services and capital markets firms, migration to more advanced digital operations is no longer an option; it’s table stakes.
Leading firms across legal, accounting, consulting, investment banking, and private capital markets are leveraging technology in truly transformative ways — empowering their professionals, exploring new business models, and gaining a competitive edge along the way.

The Technology Factor in Consulting
March 29, 2022

The Technology Factor in Consulting

Technology is now a REVENUE driver for consulting firms: 50% of all consulting services will contain digital products by 2025 – and  30% of firms believe that more than half of their revenue already depends on their tech stack. 
This is also reflected in the rising tech investments by professional services firms – which 72% of firms focus on their front office and front-to-back integrations.
 “Our industry is based on trust and growth – and facing the challenge of attracting fantastic talent. Your article demonstrates the relevance of technology in that context”, says Christian Rast, Global Head of Technology & Knowledge at KPMG in reference to my latest article published in Harvard Business manager together with my co-authors Prof. Dr. Markus Kreutzer (EBS Universität für Wirtschaft und Recht) and Stephan Kaufmann (Workday). 

Managing for Outcome: Rethinking Value Chains in Professional Services
May 24, 2020

Managing for Outcome: Rethinking Value Chains in Professional Services

The pandemic may have put the final nails in the coffin of the „time & material“ model in legal, consulting, tax and accounting firms. But what are leaders, partners and managers focusing on when the game is not about „utilization“ and „billable hours“ anymore?

So, here is a framework to grasp and think through the management implications of the next generation value chain for professional services:

The Invisible Threat to “Traditional”​ Law Firms, Consultants and other Professional Services Firms
April 28, 2020

The Invisible Threat to “Traditional”​ Law Firms, Consultants and other Professional Services Firms

Is the next generation of competitors even visible to a traditional lawfirms or the providers of consulting, tax or accounting services?

Many established players seem to have a hard time recognizing the underlying shifts in the market, which can be observed upon closer inspection of demand and spend patterns of professional services‘ clients. Or in other words: They are invisible – unless firms truly listen to clients, tune into the technological change and embrace the emerging digital future and opportunities across the professions and beyond.

Delivering Client-Issue Focused Solutions
December 9, 2019

Delivering Client-Issue Focused Solutions

A few months ago, I was interviewed by Ari for his podcast on „Reinventing Professionals“, which I can highly recommend. We discussed my role at KPMG, how law firm and corporate leaders can scale and grow their businesses in the current environment, ways that technology is challenging the business model of traditional professional services firms, and how professional services firms are evolving…

Can Old Dogs still learn New Tricks? Towards the Next Gen Playbook for Managing Professional Services
September 23, 2019

Can Old Dogs still learn New Tricks? Towards the Next Gen Playbook for Managing Professional Services

The inherited recipes for growth and profitability are eroding as the input-oriented models of traditionally fuzzy knowledge-based services are being replaced by throughput- or output-based compensation for much more client focused and increasingly digital solutions. Leaders and managers in charge of professional service firms need to adjust their management playbook in order to remain relevant in the next generation of professional services. But where to begin?