Professional Services Sector

Professional Services Sector

Brief Excerpt from Industry Overview Chapter:

Companies in this industry provide specialized professional, scientific, and technical activities for others. Major firms include AECOM, Bechtel, DXC, IBM, IQVIA, Jacobs, Latham & Watkins, McKinsey & Company, and Omnicom (all based in the US), as well as Accenture (Ireland); Capgemini (France); and Deloitte, PricewaterhouseCoopers, and WPP (all based in the UK).

COMPETITIVE LANDSCAPE

Professional services providers face a number of challenges, from dependence on corporate spending and trends in the global economy to customers or potential customers choosing to do the work themselves. While the average business may not decide to in-source architectural plans for a new office, accounting, marketing, and IT services can all be brought in-house and often are.

PRODUCTS, OPERATIONS & TECHNOLOGY

The main revenue sources of professional services segments include the customization and integration of packaged software (about 25%) and legal services (about 25%). Other services include customer software application design and development (about 20%), strategic management consulting and implementation (about 15%), business process management services (about 10%) and computer systems design services (about 5%).