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Insights

Thought Leadership

Professional services firms face intense pressure to increase profit and productivity, with new client revenue declining to the lowest level in the past nine years, thanks to the global pandemic. From uncertain economic conditions to digital disruption to increased competition, increased...

Professional services firms face intense pressure to increase profit and productivity, with new client revenue declining to the lowest level in the past nine years, thanks to the global pandemic. From uncertain economic conditions to digital disruption to increased competition, professional...

The post-pandemic business environment is far from certain. Every global crisis leaves a legacy. Some changes are short term, some are localized, other are related to specific traumatic events, but many of the changes we expect to see will be long-term, acute and structural.

Project based professional services firms have no recurring revenue. They survive based on a stream of new projects and off a backlog of projects. For some firms, the Coronavirus has eliminated or diminished the flow of new projects. And, backlog projects may fund salaries for now, but when it...

With remote working platforms, like Zoom, Slack and Skype seeing a huge spike in demand, the period of COVID-19 will serve as a reckoning for remote work in general, and may help to spur on digital transformation, out of sheer necessity.

We are in the midst of one of the longest running periods of growth in the U.S. economy. In fact, we are currently in the midst of one of the longest business expansion cycles ever.

As the COVID-19 pandemic continues to dramatically impact the global economy, with unemployment levels we have not seen for 90 years, all businesses are creating new forecasts, considering new lines of revenue and looking for creative and resourceful solutions to daunting new challenges.

For many Americans right now, the scale of the coronavirus crisis calls to mind 9/11 or the 2008 financial crisis—events that re-shaped society in lasting ways, from how we travel and buy homes, to the level of security and surveillance we’re accustomed to, and even to the language we use.

In a 1959 speech, John F. Kennedy famously said: “When written in Chinese, the word ‘crisis’ is composed of two characters—one represents danger, and one represents opportunity.” Although today it is widely recognized that this is not the correct interpretation of the Chinese characters,...

“This too shall pass.”

This general sentiment is often expressed in literature throughout history and across cultures, although the specific phrase seems to have originated in the writings of medieval Persia.