As professional advisors, the ability to speak our clients language and have a genuine understanding of the challenges and opportunities inherit in their sector can really differentiate the value we can provide.
The legal sector is only one of a number of sectors in which we at Armstrong Watson have a passion to provide bespoke, specialist services, to our clients. In this article we take a look at the manufacturing sector, and share our thoughts regarding how legal and professional advisors should be flexing and focusing in order to further improve their service to our manufacturing clients.
Many businesses in the manufacturing sector find themselves in a state of transition, and with that comes the opportunity for professionals to work with their clients to help them achieve their strategic objectives.
There are many factors affecting the manufacturing industry at the moment, no more so than the impact of the 4th Industrial Revolution (4IR). The rapid advances in technology can create fantastic opportunities for those manufacturing businesses who are innovative and agile. However, real care needs to be given as 4IR can be both an opportunity and a risk for businesses, depending on how quickly they adapt and where they are positioned within the supply chain.
Professional advisors with a genuine interest and knowledge of how 4IR is impacting the sector will be able to differentiate themselves from their competitors, and provide their clients with advice of real value. Access to finance; the changing structure and skills required of the workforce; security of intellectual property; and cyber security are but a few of the considerations that manufacturing businesses need to consider right now.
These will be unchartered grounds for many manufacturing businesses, and having a team of professionals working with them will be vital to successfully navigating these strategic changes.
In order to do so, professional advisors should focus their attentions on understanding their client’s aims and objectives, and what the barriers are to achieving those objectives. Investing time with clients enables an advisor to truly understand what is important for their client; the wider issues facing the client; and the industry as a whole. That understanding enables the advisor to provide a more bespoke service, focusing on solutions the client needs and values.
Professional firms play an important role in ensuring that their manufacturing clients are able to embrace their opportunities, whilst safeguarding their businesses from the inherit pitfalls associated with rapid change.
At Armstrong Watson we have a wealth of knowledge of the manufacturing sector, with local manufacturing specialists keen to speak with manufacturing specialist solicitors, to share discussions and to collaborate in order to add real value to our clients.
Get in touch with Tony to discuss how we can work together to further improve the services we are collectively providing to our manufacturing clients.
