Neil Davidson, Vice President of Enterprises at Deltek, recently featured as a special guest on ‘The Business Debate’ to discuss the benefits of cloud technologies for professional services firms.
In the interview with business reporter Angela Corpe, Davidson highlights that a range of trends are putting pressure on the professional services industry to accelerate their business innovation. Clients are increasingly demanding to see their projects delivered to a higher quality and at lower risk, whilst at the same time millennial talent within professional services firms are more and more weary of adopting business technologies that are no longer in line with today’s expectation and design requirements. At both sides of the spectrum, innovation in systems and IT infrastructure is key to remain in the game.
“In this competitive industry, agility is essential to remain afloat. Professional services firms must respond quickly to emerging trends and market evolution to meet customer expectations”, highlighted Davidson. One way this can be achieved is through migrating to a cloud-based infrastructure. “Working in the cloud enables a better experience for customers, as well as for the workforce, whilst allowing for an improved level of agility.” A cloud-based setup also provides a range of benefits for employees and productivity, allowing professional services firms to “win the war for talent” – all while being secure from cyber concerns, said Davidson in the 5-minute interview.
In the past, professional services firms have been reluctant to commit to the cloud for the fear of spiralling costs. In the interview, Davidson explains that the potential return on investment from a financial, business efficiency and future-proofing perspective are exponential. “The ROI is compelling. Deploying a cloud-based system can deliver twice the return on investment compared to a legacy on premise deployment.”
He added, “By adopting Enterprise Resource Planning (ERP) software hosted in the cloud and embracing the opportunities that digital transformation provide, professional services firms can achieve enterprise agility and distance themselves from the competition.”