Client needs are transitioning to a technology enabled, data-driven, productised, outcomes-based, collaborative model
We are moving from a world where professional services firms were focused on their process to one where they are increasingly needing to focus on the client outcomes and reimagine new ways to achieve better outcomes, often through technology. Very few clients care about the processes the firms use, but rather the quality of the outcomes. We are also seeing changes in consumption patterns leading to greater use of technology to drive productisation of services more than ever before which creates both challenge and opportunity for firms.
Throughout August Alternative Insights has been exploring this topic area, examining the changing business environment and requirements, alongside the business value, consequences and impact of innovating around the client expectations, experience and outcomes. We asked leaders across the different sectors how Professional Services Firms can provide this depth of “personalised” service more effectively while also using technology and data to a greater degree and remaining differentiated from their competitors. We asked people what the “Client of the Future” looks like in their industry, what their needs are and how firms intend to effectively service them.
At the heart of the changing demands of clients is the change that we have all seen in consumer behaviour.