Many professional services firms are on the path of digital transformation. However, many still have not reaped the benefits of digitization. According to Workday’s global research study, 48% of firms agree that their own KPIs are not reflective of the digital era in which we are now operating.
The Workday Solution Paper lays down five key areas of professional services that can be digitized to increase efficiency and improve the business. These are:
- Planning and Forecasting
- Talent Management and Development
- Global Resource Management and Staffing
- Client and Project Profitability Tracking
- Billing and Revenue Management
Hence, digitizing these areas can help firms be more competitive.