Partnering with Professional Services Providers

Lori Graham (L) and Kelsey Campbell co-authored this article.

One of the key advantages of successful PR and marketing firms is their ability to scale up and down with different professional services firms and resources. It might not make sense to have a full accounting team; it might not make sense to have a business affairs person, or even a head of HR depending on your size. Many times, however, when a big project comes in, with the right professional service provider, you’ll be able to flex your team through different consultants and contractors.

While the ability to utilize these resources is key to running a successful firm, the management of these relationships is even more important. Are you utilizing your professional services teams to their full extent? Are you getting out of them everything you’re hoping for (or paying for)? This month, we’re talking about the best ways to utilize those relationships.

It’s in our nature to think we can accomplish more within a timeframe than what’s actually possible. We have great intentions! We create a list of all the tasks we think won’t take a lot of time with the thought that it will be just as easy to complete them as it was to create the list in the first place. And then, as we start working through the list, there’s an interruption, a more pressing matter. The list gets set aside and forgotten. The quandary is that the tasks really do need to be completed, but how are they going to be completed and by whom?

Many times, agency leaders view operational functions as something they can easily complete: Create a list and tick things off when they’re done. The reward being a sense of accomplishment and possibly a cost savings to the agency. The complication is that agency leaders are the helm of the organization, driving growth, problem-solving and creating a vision that will transcend into the future.

When agency leaders are faced with too many operational tasks, meaningful partnerships with professional services providers is an essential tool. The following are three key items to ensure these partnerships provide much more than just a service.

Choosing the right provider

A key to selecting the right professional services provider is to think beyond what you want to accomplish. For instance, your firm needs someone to provide accounting services—process payables, possibly create client invoicing—but overall provide financial statements. When searching for a provider, look for someone with your industry knowledge and, if possible, someone who has worked within the industry. These are the people that understand your business and can provide more strategic value. The professional services firms you work with should feel like members of your team who work in a different part of the office. They should celebrate your wins with you, be there on tough days and be such an integral part of the team that you invite them to the holiday party.

Open communication

When partnering with a professional services provider, a key component is open communication. Sharing your company’s values and goals will help your services provider to customize their collaboration. As with the example of an outsourced accounting service provider, letting them know your growth initiatives and economic struggles will help them to provide key performance indicators and trend analysis that will provide decision-making tools. Another example is when resourcing additional team members, make sure the staffing agency understands the skills and personality types that are necessary for the projects that are upcoming and most important to your agency. Regular discussions will provide your professional services provider with insight into the barometer of your business.

Accountability

As with any relationship, accountability is a key element for both parties. As the buyer of services, you rightfully expect work to be done timely. A factor to remember is that when your professional services provider makes a request of you—e.g., pass along data, updates, etc.—completing the request promptly will allow them to execute efficiently. A helpful tool in keeping everyone on track is to ask your services provider to maintain a tracker so that each participant can easily be aware of the status.

These takeaways are just the basis to building a robust and lasting partnership with your professional services provider. While this takes time, the benefit of creating this relationship means that you have a resource invested in your business’s success, while at the same time allowing you the time to be an effective leader.

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Lori Graham and Kelsey Campbell provide accounting, and consulting services to Professional Service Organizations at Armanino LLP.