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Square study reveals the digital transformation of the UK's professional services industry – FE News – FE News

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Square, the globally trusted software, payments, and hardware solution for businesses of all sizes, has today 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.”
To identify where professional service providers are on their digital transformation journey, Square asked 300 decision-makers how technology has transformed their business.
Some of the key finding from the report include:
“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 easily managed using products like Square Marketing and Invoice tools.”
Despite a difficult period, the future of professional services is full of opportunities. For a full analysis of the top industry trends, insights from Square experts, and real-life business examples, you can access the report here.
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