Professional services firms - think financial, legal, technological, etc. - are in a tight spot, with intensive competition from newer and bigger competitors resulting in downward price pressures. That's on top of constant challenges with compliance.
To gain a competitive edge, professional services businesses need to: integrate key teams including project management and finance; accelerate processes like reporting, consolidation, and recurring billing; plus streamline and standardise revenue recognition and amortisation for improved visibility over cash flow and the impact of expenses.
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