Outcome-based engagements
The classic time-and-materials business model where firms sell expertise on an hourly basis has proven highly profitable for professional services organizations for many years.
However, increasingly, customers are expecting a more predictable experience with such an open-ended approach, especially when services can be delivered digitally or virtually. Firms must be able to bid for, execute on, and monitor instantaneously define your dynamic processes from the quote of a simple productized service or complex business solutions across the entire value chain: pricing, delivery, revenue recognition, billing, and invoicing.
Traditional scenario
Partner meets with client who requests a bid
They send request to bid team to formulate a proposal
Bid team performs bottom-up planning and offline research
There are multiple revisions and sharing of spreadsheets
The bid is reviewed with the partner
The final bid is prepared
The bid is delivered to the client
30 days
Cognitus
new-world scenario
Partner meets with client who request a bid
"Copilot, find me a bid..."
The partner gets an automated suggestion of a draft bid based on intelligent identification of previous similar successful projects.
The partner quickly tweaks the bid
The bid is delivered to the client
1-2 days (or hours)
Requirements validation
Solution
design
Project and services estimation
resources availability check
review and approval
bid
sumission
Knowledge as a service
The emerging economies –the outcome, shared, or gig economy –put immense pressure on professional services firms to adapt their processes in real time and on the fly. Imagine a platform that allows you to modularly, seamlessly, and instant your dynamic processes from the quote of a simple productized service or complex business solutions across the entire value chain: pricing, delivery, revenue recognition, billing, and invoicing.
Traditional scenario
Partner meets with client who request a bid
They send request to bid team to formulate a proposal
Bid team performs bottom-up planning and offline research
There are multiple revisions and sharing of spreadsheets
The bid is reviewed with the partner
Cognitus
new-world scenario
Configure, price, quote: Fast, accurate, and consolidated quotes for complex solutions, including digital services offerings
Service delivery: Single view of all related services providing realtime visibility into revenue and margins and ability to forecast and predict outcomes
Recurring digital services: Support for subscription-usage-, and outcome-based business models such as digital services
Revenue recognition: Real-time revenue recognition models from fixed price to subscription and usage based
Billing and invoicing: Single invoice across all billing types for services, projects, and products
Talent networks
Future-facing firms will enable flexible workforce models that meet the needs of a generation of talent that does not have a traditional “job for life” mindset. Utilizing SuccessFactors in combination with LiveHire (our preferred Candidate Relationship Management solution) the intelligent resource management can find internal and external resources with the latest skill set updates on-demand.
Traditional scenario
Partner meets with client, who asks for experts with great experience
Partner delegates to engagement manager to find resources
Bid team performs bottom-up planning and offline research
There are multiple revisions and sharing of spreadsheets
The bid is reviewed with the partner
Cognitus
new-world scenario
Resources demand: partner meet with client, who asks for experts with great experience
Workforce scheduling and forecasting: partner uses intelligent resource management to find staff with the right skills and availability across internal and external resources pool
Talent supply: Staffing is intelligently proposed based on previous experience and validated by the engagement manager
Engagement execution: The engagement manager can start on time and with the best team
