Trends and Challenges for Firms in 2024, with Fiona Czerniawska and Margaret Cameron-Waller, Source

As we head into 2024, revenue growth is coming under pressure in professional services firms. In this podcast, experts at Source discuss the trends and challenges that will really matter in the year ahead, including which markets are set to grow, what clients are looking for from pricing, and how firms can’t risk letting customer experience fall off the leadership agenda.  

Fiona Czerniawska, Source’s CEO and Founder, and Margaret Cameron-Waller, Associate at Source, join Emma Carroll, Source’s Head of Content, for the latest episode of our The Future of the Firm podcast.  

They share their insight into the following issues and more: 

• Revenue growth for professional services firms came under pressure in Q3 2023, and this has continued into 2024.  
• Today’s market is patchy, and firms will have to select where they want to focus carefully. Technology, cybersecurity, and data & analytics will remain important.  
• Pricing is coming under pressure. There is some discounting taking place to allow firms to maintain their market share.  
• There are tentative signs that outcomes-based pricing is becoming more interesting to clients.  
• AI remains top of mind for clients in 2024, and work will centre on areas like strategic reviews, pilots, and advice on regulation. However, clients aren’t yet spending on larger-scale projects. 
• There is a danger that ESG work may get absorbed into business as usual, and this risks it failing to get the attention and investment it deserves. 
• It’s crucial that customer experience doesn’t suffer in 2024, and expertise will be a crucial attribute for firms.  

If you enjoyed this conversation, don’t miss our sister podcast, Business Leader’s Voice. In our latest episode, we set out the big business challenges that clients say they’ll be facing in 2024.