Professional services organizations confronted declining revenues and other challenges last year, according to a new report.

The report, from the research and consulting firm Service Performance Insight, found declines in billable revenue per consultant and overall revenue per employee at a set of professional services firms it used as a benchmark. The report also found an average deterioration in net profits of more than 5 basis points among the professional services organizations it benchmarked, along with reduced revenue growth, in 2013. However, the future is looking brighter for this year for professional services organizations such as accounting firms.

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