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Unlike the industry where the product is tangible, the professional services cannot be physically experienced. In this case, the „product” is a solution that brings value to the client only when implemented. The promise of achieving the looked-for results is the warranty certificate, the customer being part of the information exchange to implement a solution that comes at a cost and whose results cannot be seen immediately.
Author: Alina Făniță, Managing Partner, PKF Finconta
In addition to this traditional challenge comes the process of digitization, as technology is increasingly transforming professional services. The emergence of blockchain is an even more convincing proof of change. The future of this industry will depend on how industry leaders will manage the change that digitization produces.
Relevant to understanding the way leaders of the professional services industry in Romania picture the digital transformation of their companies is the study "The Barometer of Digitization in Romania", conducted by the consulting company Valoria. Some relevant aspects from this study are the following:
Professional services are an indicator of the sophistication of a country’s business environment. These days, the companies in this industry are experiencing a period of expansion because of the spread of digital technologies. The implementation of these technologies depends on the level of competitiveness of each company in this industry. But the implementation of digital technologies takes place in several steps, from strategy, budget allocation and selection of the relevant digital business tools, channels and/or models, to deployment and skills training.
The professional services companies in Romania are "compelled" by their clients’ demand to offer digitized services. If they do not, their credibility is at stake because new digital business models emerge in this industry sector, with new companies that offer faster and better services at lower prices.
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About us
For more than 23 years, PKF Finconta is one of the 10 leading professional services companies in Romania. Since 2006, we are a member of PKF International Limited. PKF International is a leading international business advisory organization. The company grew consistently over the years, forming a Group of four companies: PKF Finconta, PKF Finconta Consultanta, PKF Finconta HR and Finconta Consulting SPRL, members of national professional organizations CECCAR, CAFR, CCFR, and UNPIR. We provide a wide range of business advisory and related specialist services. We have seven core areas of expertise and within these areas, we tailor our services to your business and your needs: audit, corporate finance, tax, bookkeeping and accounting advisory services, transfer pricing, payroll and personnel administration, and insolvency.