How can a professional services firm grow profitably while providing clients with the services and project pricing they demand? The firm must rely on best-practice solutions to gain control over every aspect of business—from business development to resource planning to billing. Firms that plan and staff projects by relying on combinations of spreadsheets and management instinct will fall behind.
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Worldwide consulting revenues, for example, were expected to rise nearly 3.5% over 2005, yielding a market size of over US$210 billion for 2006.1 Along with moderate growth, the current professional services marketplace ' including consulting, Information Technology (IT) , business process optimization (BPO) , and tax and audit firms ' is characterized by the following trends: market consolidation, outsourcing growth, increasing client sophistication, regulatory changes, and new technology. Let's