We can categorize the service industry into four major categories
Knowledge/Professional-based
This category includes law firms, software companies, CA audit firms, and research firms. In this industry, the core product is knowledge packaged in units of time as a deliverable, ultimately aiming to determine the profitability per client per project.
Resource-based
This category mainly consists of manpower supply firms, where the core ERP process involves calculating payroll and managing billable resources. This is commonly used in the staffing industry.
Asset-based
Primary assets are present in this category, and value-added services are built around them. Examples include airlines and amusement parks.
BFSI (Banking, Financial Services, and Insurance)
This category encompasses a trio of interlinked industries that provide essential services ranging from everyday banking to critical risk management and insurance coverage.
Below is a snapshot of the Service industry landscape, integrated through ERP, CRM, Supply chain, Mobility tools, and external-facing systems for Vendors and Customers. This is the industry’s typical ‘To Be‘ state, making the organization efficient and agile.
Key Performance Indicators for Professional Services
Client Relationships
- Aging
- Conversion Rates
- Client Referrals
- Client Retention
- New Client Acquisition
- Forecast Accuracy
- Complaint Call Tracking
Global Resources
- Utilization Target
- Chargeability
- Multiplier
- Staff Retention
- Time-to-Hire
- Time-to-Productivity
- Project Appeal
Service Delivery
- Project ETA/EAC Accuracy
- Rework/Total Cost Ratio
- Capacity Planning
- Tools/Methodology Usage
- Delivery Quality, Timeliness
- SLA Compliance
- Executive Project Review Sessions
Financial Results
- Backlog
- Time Capture
- Realization
- Days Sales Outstanding
- Overhead ratios
- Margin by Project Type
- A/R Collections with DSO and Write-Offs
- Review Sessions Billing Accuracy
Some of our Service Industry Clients
