The transition to an as-a-service business model involves a lot of pain. Phil Fersht provides some advice for making the transition, including buying some time.
Video Transcript: Transition to As-a-Service Business for Consulting Firms
Really make sure you’ve maximized your existing model to get to the new model, and that’s what I think is one of the big challenges our clients are having to bear through right now in terms of figuring out, do I have the optimized [where we’ve remixed?] , do I have all the solution pieces at my disposal. Have I looked at getting the new partnerships in play. Have I looked at maybe acquiring companies who could help me do that?
So I do think we’re in a period of consolidation, of mergers and acquisitions or rethinking and re-communicating with the investment community.
I think acquisitions and mergers are important because they actually buy a little time as well. so if you say, we’re going through a $10 billion merger and you think it will take thing thing 18 month fully operational, you can afford a bit of time to get there. That’s what we need right now as an industry. We need a bit of time, we need a bit of patience and there needs to be a broader understanding of the change and the pain we’re all having to go through to get a head of this as a service curve.