How FinancialForce Is Using AI To Fight Revenue Leakage

Bottom Line: Using AI to measure and predict revenue, costs, and margin across all Professional Services (PS) channels leads to greater accuracy in predicting payment risks, project overruns, and service forecasts, reducing revenue leakage in the process. Professional Services' Revenue Challenges Are Complex Turning time into revenue and profits is one of the greatest challenges of running a Professional Services (PS) business. What makes it such a challenge is incomplete time tracking data and how quickly revenue leaks spring up, drain margins, and continue unnoticed for months. Examples of revenue leaks across a customers' life cycles include the following: Adding up all these examples and many more can easily add up to 20-30% of actual lost solution and services margin. Selling projects and the promise of their outcomes in the future create a unique series of challenges for PS organizations when it comes to controlling revenue leakage.