The Hinged Research Institute recently conducted a survey among over one thousand professional service firms that generate at least $1 million annually. Of those surveyed, the firms that have 20% spikes in growth all embraced the digital transformation. All of these high-growth businesses exhibited the following traits as well:
- The firms are three times more likely than no-growth businesses to credit using technology as the difference-maker.
- All listed technology as their number one factor in their rapid growth.
- Sixty-four percent more of these high-growth firms mentioned technology as a differentiator compared to last year’s survey.
Introhive interviewed Sikich’s own Ray Besteregarding why adopting newfangled technology fosters such high growth.
In professional services firms (such as accounting firms), where relationships drive success, having the proper technology to capture and report on those relationships is key to stability and growth. Today’s technology allows for the ease of capture of those interactions so that users spend more time using the information rather than collecting the information.
Beste specifically pointed out CRM automation technology, such as Microsoft Dynamics CRM, optimally addresses all of these benefits. By adopting a digital transformation, a service firm will be able to do the following:
- save significant time;
- make data easy for the entire company to use;
- improve data accuracy;
- instantly create reports on customer relationships; and
- boost service offered to your clients.
All this can be easily done, simply because CRM technology eliminates manual data entry. Think of all the time wasted from manually entering in data and potentially entering in inaccurate data?
On average, CRM tech frees up 5.5 hours a week for every team member. It doesn’t sound like much, but once you add it up over a year, that’s one month of time freed up. That allows team members to do what they really need to do—build relationships with clients and offer excellent service.
Ready for your firm to embrace the digital transformation and outgrow your competitors? Contact Sikich today and learn how Dynamics CRM can improve your business.