The professional services market is rapidly growing and is forecasted to continue growing well into 2020. This industry includes research, promotion, accounting services, legal services, and consulting services. Individuals and companies are requiring more professional services than ever before and with the increased need comes growth across all industries. Anyone employed in the industry knows that to stay competitive, they have to be up to date on the latest trends transforming the market.

Adoption of Social Media Tactics

Many companies have taken their business online and are using social media to engage with their clients and customers. Social media usage continues to grow at unprecedented rates and is forecasted to grow another 11.8% before 2020. Social media connects companies to their customers by one click of a mouse or tap of a finger from anywhere in the world. Companies need to adopt an enhanced social media presence to boost client satisfaction and deepen their relationships with their clients. The increased use of social media can be harnessed by the professional services industry to help companies achieve their overall goals and visions.

Professional Industry Goes Virtual

With the increased pressure to reduce costs and adapt to changing technologies, more and more professional services companies are going virtual eliminating the need for permanent office spaces. This shift allows them to hire contract employees and place their entire company in the cloud which allows anyone in the company to access it at any time.  If professional services do not adapt to the advancements in technology, they will become out of date and will eventually fail to take on new business.

Automation of Back-End Services

Back-end automation is becoming more important for companies to move towards eliminating a paper-driven workplace. Professional service companies are automating their back-end services to match their front-end services and making a move to electronic check records instead of scanning and filing papers. Automation allows companies the chance to reduce their operational costs and spend more time providing excellent customer service.

The professional services industry is rapidly growing and changing to stay up to date with the growing need of individuals and companies seeking their services. Being able to adopt one or more of these trends will create ways to add value to your business and help your customer base.