The top three business issues for firms across all regions are the same with winning new projects providing the most pressing concern.
While customer satisfaction is required to retain current clients for the long-term, firms still need to successfully position themselves for untapped, profitable business opportunities. Every professional who works with external clients has a responsibility to win, build and protect their client relationships. It is not always easy and there are many challenges associated with it. Firms want to tackle the challenge of winning new projects by improving insight and visibility within their own firm.
This means finding answers to questions such as:
- What is the most profitable type of work?
- What are the most profitable customers to engage?
- What market segments should we look into?”
Guaranteed strategies for winning new business include leveraging detailed, historical data from your business to identify new opportunities. A project based enterprise resource planning system can help. An ERP system can access your employee’s hidden talents and using them to strategically diversify into new areas, alongside identifying and personifying your ‘ideal customer’, making them easy to spot.
The benefits of an ERP system don’t have to only help win new business but it can help monitor project profitability, another of the top three business issues. Price competition is a highlighted the threat in the recent AE Report and it keeps growing for AE firms.
Download the AE report below to see the full results