Professional services are companies, firms, or individuals who provide your company with a specialised service, including but not limited to an accountant, actuary, evaluator, finance, investment, IT and computer consultant, lawyers, management consultant, training and development, and cleaning services. In most cases, professional services are provided by the business organisation, such as a corporation, limited liability company or partnership, that sells goods or services to make a profit.
Qualities of Professional Services
Being an effective professional services leader is no easy task. Heightened expectations from investors, tighter government regulations, global business competition, and rapid technological developments are adding to the list of growing demands on those especially serving in senior management roles. Professional services’ leaders have always been key to the successful running of an organisation, and the skills and expertise required go beyond a grasp of the numbers. For a professional leader, it takes a variety of qualities to make an impact. Here are 10 success factors about professional services.
A commitment to ethics should always be the cornerstone of every professional service provider, but today this attribute isn’t just part of a corporate mission statement. Accounting scandals and resulting government legislation have placed a spotlight on professional integrity. The best professional services leaders are respected and trusted, setting the tone for the entire organisation through their ethical behaviour and straightforward communication.
Successful services executives are willing to take a stand on controversial or risky matters. They have the confidence to professionally challenge decisions made by other leaders in the organisation, such as what they perceive to be a bad move into a new line of business or a potential alliance that isn’t in the firm’s best interests. They have a reputation for asking the difficult questions during meetings, negotiations, and other discussions.
3. Command of both technology and finance issues.
Efforts to safeguard the integrity of financial data and to improve efficiency through sophisticated systems and applications have blurred the line between accounting and information technology. Award-winning professional services executives are frequently just as knowledgeable about computers, firewall systems and servers as they are about gross margins and depreciation expenses. They are capable of identifying technology and computing strategies that will help the organisation maximise productivity, improve the service, and achieve cost savings.
4. The ability to wear many hats
Professional services leaders are pulled in many directions – providing advice on a business deal one minute and offering input on a purchasing decision the next – which makes it a challenge to keep constant tabs on growth and cost-reduction strategies that will impact financial results positively. Top service executives are time-management experts who balance a variety of demands while never losing sight of key accounting issues.
5. Skilled at motivating and inspiring others
Professional services leaders also bring out the best in those around them. They give their employees the autonomy and office politics, unequivocal in their convictions and public statements, and yet able to tailor their interpersonal approaches to suit the backgrounds and priorities of different individuals.
6. Eagerness to embrace change
The best services leaders recognise that change is a constant and keep a flexible mindset when it comes to modifying company policies and practices. They view their accounting teams as the “enablers” of the organisation, helping to address new business developments successfully. Not only do successful professional services executives encourage their staff to exercise their creativity, but they also support those who challenge the status quo.
Professional services executives must have a strategic mindset, always taking note of trends that have the potential to impact their companies. Many previous FEYA winners working at private companies have implemented measures to comply with Sarbanes-Oxley despite being exempt from the regulation. Some put the necessary documentation, controls, and feedback in place well before the legislation even existed.
8. Strong communication abilities
Today’s professional services executives frequently take the lead in critical business discussions, negotiations, and presentations. They must be able to communicate complex information effectively and field challenging questions with ease. They’re clear, concise, and persuasive with their messages, whether made verbally or in writing.
9. Interpersonal skills
Professional services executives must collaborate with a wide range of people from other executives and board members to investors and professional representatives from service partners and regulatory agencies. The best leaders are masters at navigating office politics, unequivocal in their convictions and public statements, and yet able to tailor their interpersonal approaches to suit the backgrounds and priorities of different individuals.
Many services managers say they have an “open-door policy” to promote teamwork and encourage feedback from employees. Frequently, however, staff and other professionals view these policies as nothing more than words when they find those supposed open doors so often closed. Top executives eliminate barriers by having a visible presence in the company, interacting with employees as frequently as possible, and encouraging staff to welcome all who approach them, regardless of their rank in the organisation.
Professional services leaders who exhibit these 10 qualities tend to make lasting, positive impressions at their own companies and in the business community in general.
Presented by Computer Cleaning Service We are the UK nationwide computer cleaning company having our head office in London. we have a set of values, commitments, professionalism, and honesty that we’ve summarised in something special we call PRIDE.