3 Trends to Look Out For in the Professional Service Industry
In the era of artificial intelligence, it is easy to imagine computers and robots being trained to take our jobs. New innovations in technology everyday are allowing more businesses to automate their systems, granting employees more time to focus on other projects that cannot be automated. Digitalization has also transformed the way professional service providers operate and interact with their clients. With so much changing in our world everyday, we have compiled a few trends you should be on the lookout for in 2023.
Increased Speed of Business
With digital communication and most electronic processes almost being instant, most business that used to take days or even weeks to
conduct can be done in under an hour. Paying a digital invoice or sending an email take very little time, which allows business to be conducted more rapidly. We can expect clients to develop an increased expectation for the speed of service delivery.
2. 24/7 Customer Service
In today's day and age, only being available to your clients during work hours may cost you business, as issues and questions do not only come up during business hours. Along with rapid service delivery, your clients should be able
to reach you at any time and expect a prompt response. This shows clients you care about them and that you have a sense of urgency for their concerns.
3. Outcome-Based Models
Most professional service providers use a rate-based model, where an hourly rate is used to price their services. However, more firms are switching over to outcome-based model, where the rate is based on the outcome of the service and the effort taken to achieve it. This may sound risky for both the client and the provider, but it allows for the services to be priced based on their quality and not the amount of time it took to complete them.