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Service Industries

The Service Industry covers a wide range of sectors and makes up a significant, mostly profitable and rapidly growing portion of the global economy often revealing higher margins than other more capital-intensive industries. Furthermore the primary assets of a service company are ‘people’ selling ’services’. Therefore the transformation approach for a service company in general is different than for an industry company – although the sectors within the Service Industry face different challenges which lead to different optimization concepts. 

Amongst others Management Partners is currently focusing on the following Service Industry sectors:

  • Financial Institutions
  • Healthcare

Financial Institutions

Financial Institutions are facing their biggest challenges in the last decade and are struggling for survival. The industry has to completely redefine its structure and business models to overcome the hurdles, regain trust, create value and play a leading role to future economic prosperity. This will be even more challenging as the economic growth will be slower, global-trade volumes will shrink and customers will further reduce their demand for high-margin products and services.

Major core questions Financial Institutions must address are:

  • What are the new structures, business models and value propositions for the Financial institutions? Which implications do they have for the product and service portfolio, revenue and profit structure, operating model, organizational structure and distribution channels? How will the changing customer behavior influence the new structure / business models?
  • Where are the most effective levers to reduce costs and optimize processes in alignment to new structures and business models?
  • What are the levers to improve and change risk management and what is the impact of the regulation?

Healthcare

The demand for healthcare services increased significantly during the last years as the global population ages and more people have access to medical services. Therefore spending on healthcare as well as prices have risen - payer organizations have to manage the gap between funding and medical costs and healthcare providers have to be competitive and generate financial results in addition to generate value for patients often in a context of changing regulatory environment.

Major core questions Healthcare Organizations must address are:

  • Where are the most effective levers to reduce costs and optimize internal as well as external processes (e.g. interaction between payer and provider organizations) while ensuring highest quality services for patients?
  • What is the best way to improve and restructure organizational productivity?
  • How to leverage information technology in an optimized way?
  • What is the optimal portfolio of products and services and which pricing strategy should be implemented?
  • Are there new eco-systems to be implemented (mergers & acquisitions, partnerships, alliances