Sebastian Hartmann

Next Generation Management for Professional Services

Tag: BusinessModel

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 Technology as a Revenue Driver in Services Firms
January 26, 2021

Managing Technology as a Revenue Driver in Services Firms

Technology is moving to the center of attention across professional and business services – and firms are spending more and more, not just absolutely but also relative to their revenue. If solely treated as a cost position, it becomes a race to the bottom. Instead, if considered a revenue driver and managed as an integral part of your firm’s P&L, technology paves the way for new business models, growth, and profitability.

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.

The COVID-19 aftermath for Professional Services: Three Hypotheses
March 16, 2020

The COVID-19 aftermath for Professional Services: Three Hypotheses

As the world is bracing itself for the impact of #COVID19 on our nations, economies, companies as well as individuals and societies, #professionalservices firms (#legal, #consulting, #accounting) are both positively and negatively impacted at once.
While it is clearly necessary to deal with the serious short-term implications of this terrifying situation, it may also be strategically important to think through the mid- to long-term implications for professional services in general and individual firms in particular.
So, here are three first hypotheses regarding the #Corona aftermath:

Recession Resilience Triangle for Professional Service Firms
December 11, 2019

Recession Resilience Triangle for Professional Service Firms

With the shorter and darker days of winter approaching, many indicators across industries, geographies and economies reflect growing uncertainty – and the threat of an economic downturn or even recession. So, we have asked ourselves: How will Professional Services as an industry be impacted and respond? Which Legal, Consulting, Accounting or Technology Services firms will suffer or decline … and which firms will thrive? Download our thinking right here:

Playing the Recession: Three Key Survival Moves for Professional Services
October 31, 2019

Playing the Recession: Three Key Survival Moves for Professional Services

Is your firm prepared for an economic downturn?

ProfessionalServices have largely flourished since the 2008/2009 recession. But how well Professional Services Firms will be able to continue to “score”, will depend on the degree of resilience within their revenue structures and their ability to grow and occupy new market space amidst an unfolding economic downturn.

Next Generation Rainmakers in Professional Service Firms: Solution Managers (aka Product Managers)
July 23, 2019

Next Generation Rainmakers in Professional Service Firms: Solution Managers (aka Product Managers)

While the term „product management” may still sound foreign and incompatible with the fuzzy and often ill-defined (lovingly called “bespoke”) professional service business, its essence is already emerging in many forms, roles and organizational setups. Embracing the role of solution managers consciously and adjusting the organization surrounding them must be a key workstream within the digital transformation journey of any professional service firm today.