Posted on January 11, 2017 at 9:00 PM
Professional Services Explained
Professional services are occupations in the tertiary sector of the economy requiring special training in the arts or sciences. Some professional services require holding professional licenses such as architects, auditors, engineers, doctors and lawyers. Other professional services involve providing specialist business support to businesses of all sizes and in all sectors; this can include tax advice, supporting a company with accounting, IT services or providing management advice.
Professional services can be provided by sole proprietors, partnerships or corporations. A person providing the service can often be described as a consultant. In law, barristers normally organise themselves into chambers. Businesses in other industries, such as banks and retailers, can employ individuals or teams to offer professional services for their customers. Major cities such as London and New York are leading global centres for professional services firms
The marketing and selection of professional-service providers may depend on factors such as skill, knowledge, experience, reputation, capacity, ethics, and creativity. Large corporations may have a formal procurement process for engaging professional services. Prices for services, even within the same field, may vary greatly. Professional-service providers may offer fixed rates for specific work, charge in relation to the number or seniority of people engaged, or charge in relation to the success or profit generated by the project
Professional services support businesses of all sizes and in a wide range of industries. People working in professional services help their clients to manage and improve their business. Accountants, management consultants and lawyers all provide professional services to their clients. The Professional Services Higher Apprenticeship currently covers jobs in audit, tax and management consultancy.
Professional Services is a huge subject and there are so many debates within the industry. This is a place of respectful exchange and debate of all things PS.