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 product is knowledge packaged in units of time as a deliverable, 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 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.
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
Some of our Service Industry Clients
