To begin, let’s look at the professional services industry as a whole. The accounting sub sector alone generates around $180 billion a year and over $2 trillion is the combined revenue of all professional service firms in the United States (2018). And, approximately 9.3 million people are employed in the industry. This shows us that there is a lot of opportunity for growth.

The professional services industry has been faced with a number of disruptors including a diminishing talent pool, a technological revolution, and certainly new business models that include services that are personalized but maybe not ‘in person.’ Those firms that have pivoted and rolled with the punches have held on and maybe even flourished; those that sat stagnantly, likely haven’t survived. While the road has been long and dark, the profitability of the industry is looking up. With careful planning, professional service providers can get back to doing what they do best, serving others. Digitalization is essential to almost every industry, and it is certainly key in the professional services industry. What are the challenges you have been facing?