Service Industry
We can categorize the service industry into four major categories:
1. Knowledge/Professional-based: This category includes law firms, software companies, CA audit firms, and research firms. In this industry, the core processes revolve around timesheets and billing, ultimately aiming to determine the profitability per client per project.
2. 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.
3. Asset-based: Primary assets are present in this category, and value-added services are built around them. Examples include airlines and amusement parks.
4. BFSI (Banking, Financial Services, and Insurance): This category encompasses microfinance and repository custodian services.
The Solution Vision slide depicts the business processes of the Service Industry, which are automated and integrated through various business applications such as ERP, CRM, POS, Distribution Management Systems, and apps. This integration provides a seamless control and decision support system for the organization.
Universe
Client & Prospect
Mobility & Apps
• Matter Updates
• Newsletters
• Discussions & Collaborations
• Court Diary
• Payment & Invoicing Details
• Ledger Reconciliation
Prospect (Net New)
Clients
Cross Sell
Up Sell
Thought Leadership
Events Portals
Networking
Referrals
Matter
IP Litigation Corporate
Counsel | Advisory | Arbitration
CRM
Conflict Management
Client Master Management
Profiling
- MNC
- Indian Corporates
- Public Sector
- SMB
Campaign
- Mind Share
- Sponsorship
- Events
Personalized Broadcast
- Personal Broadcasts
- News Letters
- Live Streams
- Portals-Knowledge and Opinions
Project Budgeting
- Timelines
- Ownership
- Escalation, Delegation
- Cost Centre Management
- Effectiveness Analysis
Matter Management
Resources
Client-Matter
Teams
Practice Areas
Corp
Litigation
IP
Knowledge
creation
utilised
in Hrs.
Expenses
Matter Plan
Timelines | Activity | Collaboration
Un-Billed
Timesheet | Out of Pocket Expense | Consumables
Billing
Time& Material | Milestone-Outcome | Moderation
Client-wise
Team-wise
Matter-wise
Practice
Area-wise
P&L
Overheads & Allocation
Knowledge Management
Case Law
Opinions
Precedents
Team
Collaboration
Matter
Intellectual
Property
Classified
Reusable
Knowledge
HR Management
- (Hire to Retire)
- Recruitment Process
- Performance Management
- Balanced Scorecard
- Payroll, Leave, Expense
- Skills
- Roles
- Responsibilities
- KPIs
Management Accounting
- Practise Area/ Team wise
- Industry Wise
- Region Vs Region
- Budgeting & Control
- Profit Center Acct.
- Cost Accounting
Treasury Management
- Fund Flow
- Cash Row
- Dollar & Currencies
- Hedging & Risk Management
- Bond and Investments
- Debt & Equity
Statuary Management
- Cash Accounting
Vendor Councel & Employees
Portals & Mobility
• E-Procurement
• Counsel & Brief
• Time Sheet and Expense Management
• Employee Self Serve
• Pay Slip
• Addon
– Asset Management
– Leave Management
• Intranet
– Announcements
– Colours & Scheduling
Vendor Ledger + Reconciliation
Business Intelligence & Data Warehousing
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
