Earlsferry-Advisory

Professional services firms need to build innovation bridges – Part 2

In Part 1 of this article I explored some of the recent cross-industry news around the areas of internal efficiency, data, culture and collaboration. In this second part I will explore some thoughts around innovation approach and productisation. I will also set out in some more detail the areas we will be exploring over the next few months with your help, around the client of the future, workplace transformation and how collaboration is changing the dynamic. We will be starting this month with looking at the client of the future and seeking to build more bridges across the services sectors around how people are driving innovation in this area, so get in touch if you would like to write on this topic.

Innovation approach

The approach towards innovation continues to evolve rapidly. As I touched on in an earlier article though, there is the risk of an authenticity gap emerging between the stated innovation goals and the actions being taken. Following on from the recent leadership summit where the clear themes emerged around innovation process, culture and data, it is clear that more work is needed around embedding effective innovation processes for many firms (see summary of the themes here).

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Simon Drane

Simon Drane

earlsferry advisory
Simon has held numerous positions within the professional services sector over the last 25 years, at a FTSE 100 legal information solution provider, a legal technology consultancy, a law firm, an accounting firm, and a legal membership organisation. Simon has qualifications in law and tax, and deep experience in commercial product strategy. Simon has board level experience of both executive and non-executive roles, and as CEO of a technology startup. He has a strong track record in creating innovative product strategies resulting in multiple new multimillion pound high growth lines of business. Simon led the new investments product strategy area at LexisNexis and created and launched many of the next generation content and workflow product offerings for lawyers. At the Law Society Simon ran the commercial arm of the organisation and restructured a set of commercial investments through taking board seats. He also implemented a new commercial strategy including a significant shift in focus to legal technology innovation including the launch of a legal tech focused Barclays EagleLab accelerator. Simon has also held senior knowledge management roles in both law and accounting firms. Simon established earlsferry advisory towards the end of 2018 to help people with their product strategies, whether they are technology businesses, professional services businesses or investors into these spaces.