The professional services sector is under tremendous strain as a result of the current digital economy. Threats from the competition are making it difficult for many businesses to survive. The method that companies provide their services has changed as a result of new market entrants. This has driven the professionals in the sector to develop better strategies or else stagnate over time, leaving a permanent stain on margins and revenue growth.
Every company needs to reconsider how to organize its business models and promote expansion. We cannot dispute that digitization has increased transparency and revealed service options. In the long run, this has helped them improve their customer communications while lowering the barriers that new competitors had previously erected. Their enterprises have the chance to advance in unthinkable ways thanks to this as well. Adopting SAP S/4HANA Cloud with professional services would be the ideal choice.
How will SAP S/4HANA Cloud Benefit the Professional Service Industry?
Due to digitization, professional services organizations can now perform at their highest level compared to earlier periods. In order to flourish, every professional service organization must have a digital vision, including competitive strategies. They must consider new business models, provide knowledge as a service, and flexibly source resources via outside talent networks.
To do this, every company must reengineer its business procedures while determining if it has the best technological foundation for realizing its goals. This platform requires an IT architecture with long-term stability and reliability to manage the primary business operations, encouraging adaptability in fields that focus on change.
The digital core is the fundamental component where you can operate with consistency and flexibility. This provides unbroken real-time analytics and transactions where Big Data can be combined, as well as expansions to line-of-business connectivity to support activities like networks and personnel sourcing. SAP S/4HANA Cloud solution provides professional services companies with a solid framework to support industry best practices. Additionally, you can achieve operational excellence across several key financial management and engagement procedures.
Captured below are the top digital priorities that will help organizations develop and deliver superior professional service:
Engage with customers on their terms
The consumer’s expectations are continuously rising, and thus, a need to constantly raise the bar in customer service arises. In today’s world, it has become convenient and easy to buy goods and services with a couple of clicks and swipes. Challenge for any marketer is to keep the customers coming back and support them through all the stages. So, organizations must constantly address their demands and offer touchpoints to customers for easy connection. SAP solutions are here to help with a high level of self-service tools for customers with knowledge management and chatbots built in. Also, the solutions provide quick, reliable, and consistent omnichannel service across all scenarios. Customer queries and support issues are quickly addressed and resolved through an AI-supported solution helping with maintaining consistency and exceeding customer expectations.
Deliver quality service
Long wait times are a thing of passes. We are living in times where customers do not want to wait and need immediate answers with quick issue resolutions. In the first contact with the organization, they need a fix for their issue. So, by clubbing the customer experiences with service operations data, you can now get clear insights, enabling you to create better customer experiences and move agilely. SAP solutions provide a single agent desktop with a 360-degree view of customers, ticket management, case management, and embedded knowledge management. So, stay on top of things and never let a customer moment slip out of your hands. With AI-enabled service intelligence, you can now automate your ticket categorization and routing. It also enables you to support your agents with automated recommendations to resolve the raised tickets quickly.
Develop new business models
As most traditional products are now commoditized, it is not about only selling products but providing complete solutions, charging for these product-centric solutions, and monetizing data. Solution and service-led revenue is becoming a goal for manufacturers looking for higher profit margins and deeper customer bonding. SAP solutions let an organization have a 360-degree view of the customer to strategize and deliver a customer-centric experience. It also supports business transformations from products to solutions-driven services, which provide higher margins. From an overall perspective, an outcome-based business approach is enabled through SAP solutions.
Improve productivity and lower carbon footprint
Bringing down the cost of customer service and, at the same time, improving the quality of service is a tough challenge for any business organization. To achieve this, the agents need to be provided with productivity tools, offer self-service solutions to customers, try to reduce direct contacts, automate using solution-driven technologies and bring efficiencies in processes to reduce the carbon footprint. Well-packaged service management with SAP S/4HANA Cloud speeds up the service implementation. This comes with machine learning-based ticket management, solution recommendation, and service schedule. Real-time analytics, automated processes, and handy mobile tools ensure anytime and anywhere service. This helps in enhancing customer delight and creates a world of positivity.
Conclusion
The professional services company of the future will look very different. Never before has technological progress provided the industry with opportunities for innovation, transformation, and growth. The intelligent technology enables businesses of all sizes and types to automate basic tasks, develop digital knowledge-based products, and access non-employee networks to increase sales without adding headcount and accelerate change. Reach out to us at sales@vestrics.in or call us at +91 99510 53333 to know more about how SAP S/4HANA Cloud would benefit your industry.
