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.

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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.