The professional services industry.
ReImagining Trust in the Professional IT Services Industry
The professional services industry, one of the significant contributors to any economy, is now surfing the tides of change.
By 2020, the market is forecasted to grow by 6.2% from 2016 and reach $5 Trillion. A demand for ‘anytime-anywhere’ information and technology disruptions, fed by Automation, Cloud, Big Data and Artificial Intelligence drives this growth. As per the International Forum of Independent Audit Regulators (IFIAR), two-fifths of inspected audits globally are found to be flawed. The era of man-machine collaboration is not too far. Most tasks will soon be performed by Machine Learning algorithms, while humans will provide judgement and strategic insights.
Organizations are playing a game of revolution roulette! The maximum returns shall belong to the most astute and technologically aware players.
TRUST has always been the underlining fabric of the Professional Services industry. Be it consulting, advisory, legal, risk, compliance, audit, tax or accounting, the bedrock of all these services is TRUST. The Big Four or ‘brand’ enterprises have predominantly secured this trust. But technology advancements are causing it to be dis-intermediated and distributed. Hexaware has intelligent solutions to help Professional Services firms ride this wave of transformation.