New SoDA Study Reveals Workflow Challenges and Opportunities
by Lakai Newman / September 28, 2015
New SoDA Study Reveals Workflow Challenges and Opportunities Abound Within Today’s Agencies
SoDA: The Digital Society, in partnership with Deltek, has released The SoDA Report On… The State of Agency Workflow Management. The SoDA Report On… is a white-paper series spun from the larger bi-annual trend publication, The SoDA Report, used by today’s top agencies and brands to understand the dynamics impacting the future of marketing.
Within this edition, The SoDA Report On… explores the creative agency’s perspective on the state of agency workflow management, processes and tools. The findings of the research, conducted by Gotham Research Group, highlight key issues that agencies face, the challenges they need to address, and delivers valuable insight into the current state of workflow management.
Report findings revealed that 80% of agencies currently use a project management solution, with 58% stating that having a project management system in place to assess ROI is critically important. Agencies also report their top priorities include the ability to forecast profits and the profitability of client engagements.
Though most creative agencies report doing well in terms of increased profits, with 38% reporting a net profit increase of more than 11 percent, agencies are still experiencing some key challenges related to workflow management, such as visibility into over-servicing, management of scope creep and projects going over budget.
Both over-servicing and scope creep are thought to have the greatest impact on profit. Based on this research, 63% of those using project management solutions indicate that managing scope creep and its impacts is the number one issue they are facing. In addition to this, nearly half of respondents report losing 11% or more of profits to over-servicing and job overruns.
“Having baseline data and analysis to understand where the industry is now – in 2015 – on such key measures as average profit per project, scope creep and myriad other workflow variables that can help or hinder a company’s financial success is incredibly valuable. A desire to discover and share such insights with the broader industry was the impetus for this study,” said Chris Buettner, Executive Director of SoDA
“Through our industry knowledge and world-class solutions, Deltek addresses the challenges that creative agencies face on a daily basis, and we work closely with agencies to ensure they are successful and profitable. This landmark SoDA survey identifies key challenges firms are currently facing – and while profits are on the rise, there are still gaps in project management and workflow management that can be addressed with better processes and tools that can help drive overall agency profitability,” said Patrick Smith, SVP of Marketing at Deltek.
“The fact that 80% of those surveyed have a project management solution in place, yet still have significant concerns and needs suggests that the creative agencies are in a new phase of adopting this type of tool – it seems like they need PM 2.0.” said Jeff Levine, President of Gotham Research Group
In addition to the research component and analysis, the Report includes original articles by the industry’s finest minds.
SoDA serves as a network and voice for entrepreneurs and innovators around the globe who are creating the future of marketing and digital experiences. Members (top digital agencies and elite production companies) come by invitation and hail from more than 35 countries across six continents. www.sodaspeaks.com
Deltek is the leading global provider of project-based software and information solutions for creative agencies, professional services firms, and other project- and people-based businesses. For decades, we have delivered actionable insight that empowers our customers to unlock their business potential. 20,000 organizations and millions of users in over 80 countries around the world rely on Deltek to win new business, recruit and develop talent, optimize resources, streamline operations and deliver more profitable projects. Deltek – Know more. Do more. ® www.deltek.com
ABOUT GOTHAM RESEARCH
Gotham Research Group is a full-service research and consulting firm advising corporations, non-profit organizations, and electoral campaigns on issues of communication, reputation, and strategy. www.gothamresearchgroup.com