Solutions for the Professional Services Industry
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A pioneer in the management of health and environmental challenges for businesses, Environ required a flexible and dynamic solution to replace their budgeting and reporting systems, which relied heavily on spreadsheets. The company chose Prophix because the office of finance recognized that they could tailor the powerful CPM software for their specific needs, including the consolidation of entries from a large number of users across the globe. |
Professional services organizations' demand is highly driven by corporate profitability and the overall health of the economy. In times of downward trends, companies look toward a leaner business model and tend to want the expertise of outside business consultants because they cannot obtain it internally. Companies become more inclined to use consultants for business analytics and they want the outside knowledge to help improve overall corporate profitability and to help successfully reach strategic corporate goals.
The professional services industry is highly fragmented and the profitability of individual firms depends on having a regular flow of projects. Large firms have advantages in marketing and in being able to offer wider ranges of services to meet the needs of major clients. Small firms can compete successfully by offering special expertise or focusing on particular regions. Revenue per employee varies among the different types of professional services
While challenges and opportunities will continue to present themselves in this industry, the key to success is finding a way to dynamically manage these and still produce profitable bottom line results. To succeed, companies must adopt strategic and all-inclusive financial, project, and resource management practices.
Why Prophix for Professional Service Companies
Prophix Performance Management solutions provide professional services companies with the necessary financial and non-financial information to make strategic and accurate business decisions within a timely manner. Operating in a highly fragmented environment, professional services companies require instant knowledge to remain competitive and to remain one step ahead of their key competitors. Prophix offers a solution that provides the framework and business model allowing professional services companies to proactively act on key business decisions around new opportunities, revenue analysis and measurement, gross margin breakdown, expense management, accounts receivable tracking and forecasting and reporting evaluation.
Professional Service organizations use Prophix Performance Management software and services to:
Discover new opportunities [+}
Analyze revenue & future growth opportunities [+]
Gain gross margin optimization [+]
Control personnel expense management[+]
Maximize accounts receivable payments [+]
Create an effective forecasting process [+]
Utilize in-depth professional service reports [+]
Professional Services Resource Center
Professional Service companies who have selected Prophix:









