Square, the software, payments and hardware solution for businesses of all sizes, has released new research that looks at the future of professional services across the UK.
The report uncovers the principal challenges faced by professional service businesses, while also identifying the technology solutions available to help them continue to grow. The impact of the pandemic is no longer the primary concern for professional service providers with businesses listing rising costs, supply chain and resourcing issues, increasingly complex budgets, tax, and regulatory changes as the main challenges in the industry.
“When the world went online during the pandemic, technology helped businesses survive,” said Niamh Cunningham, Senior Manager, International Finance and Strategy at Square. “One of the lasting benefits we’ve seen for businesses was the shift to digital ways of working. This switch is providing solutions to challenges all across the professional services sector by allowing businesses to be agile. Our sellers are continuously finding new and more efficient ways of working that prioritise expertise, implementing technology, and setting their business apart in an increasingly competitive landscape.”
“There’s no question that professional services have become more competitive during recent years,” said Anne Harris, UK Product Specialist at Square. “Turbulence in the marketplace has seen customers become more discerning than ever when researching potential providers. This makes it essential that professional services take a pragmatic approach to their marketing, social media, and online reviews. For example, requests and signposting to reviews can be included in a business’s automated invoicing and social media messaging, all of which can be easily managed using products like Square Marketing and Invoice tools.”
Check out the report here.