Professional Services Firms Lose $60K a Year to Inefficient Client Coordination, New Progress Software Report Finds
Rhea-AI Summary
Progress Software (Nasdaq: PRGS) released its State of Client Collaboration 2026 survey, finding that professional services firms incur a median annual cost of about $60,000 in nonbillable client coordination work. Based on responses from 355 firms across 10 industries, respondents reported spending nearly 20 hours per week on tasks such as document and signature collection, follow-ups, clarifying requests and tracking tasks, at an average billing rate of $65 per hour.
According to Progress Software, almost 70% of firms see at least one in ten quarterly engagements delayed by missing information or workflow issues, while nearly 60% now rank client experience as their top priority. The company positions its Progress ShareFile platform as a way to structure and secure client information workflows and will host a webinar on August 25 to discuss the findings.
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Market Reaction – PRGS
Following this news, PRGS has declined 5.09%, reflecting a notable negative market reaction. Our momentum scanner has triggered 17 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $40.53.
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Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 28 | AI product launch | Positive | +4.4% | Introduced AI agents integrated into Sitefinity content workflows. |
| Jul 22 | AI acquisition agreement | Positive | -2.6% | Agreed to acquire Domo’s AI and data platform business for cash. |
| Jul 08 | Legal workflow survey | Negative | -3.7% | Reported widespread AI adoption alongside continuing manual legal workflows. |
| Jun 30 | 2Q26 earnings report | Positive | +16.6% | Reported fiscal second-quarter results and provided earnings-call access. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news reactions were mixed, with two selected events producing positive 24-hour reactions and two producing negative reactions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Global survey reveals fragmented coordination workflows have become a measurable business cost, signaling the need for more structured, AI-enabled client collaboration
BURLINGTON, Mass., July 30, 2026 (GLOBE NEWSWIRE) -- Progress Software (Nasdaq: PRGS), an AI infrastructure software leader, today announced the results of its State of Client Collaboration 2026 survey, revealing that professional services firms lose a median of roughly
Based on responses from 355 firms across 10 industries, including accounting, legal, financial services and healthcare, the study shows that professional services have learned to absorb a surprising amount of administrative burden as part of client delivery. Today, firms spend nearly 20 hours a week collecting documents and signatures, following up with clients, clarifying requests and tracking tasks. At an average billing rate of
The consequences do not stay internal. Nearly
“Helping clients and providing positive client experiences is the primary goal of professional services firms. However, many firms are failing to deliver client engagement experiences that are streamlined, effective and efficient,” said Loren Jarrett, EVP and GM, Digital Experience, Progress Software. “For years, firms have accepted fragmented client coordination as simply part of the job. Our research shows these inefficient, manual processes are not only costly but also detrimental to the overall client experience."
To reduce nonbillable overhead while improving client experience and internal efficiency, professional services firms need to treat coordination as part of delivery, not the work around it. That means moving client requests, document collection, task management and follow-up into a secure, structured environment. With client experience now the top priority for nearly
“Professional services firms are growing fast, but the way work gets coordinated hasn’t kept up. Too much still depends on disconnected email, spreadsheets and informal processes, which creates delays, margin pressure and inconsistent client experiences,” said Amy Machado, Research Director, Content and Knowledge Discovery Strategies, IDC. “The market has demand for a better way to collect information, organize work, and deliver for clients with confidence. Progress has built a platform specifically to solve those challenges.”
At the core of any client engagement is a simple loop: request the right information, organize it for the team and deliver work with confidence. Too often, that loop breaks across disconnected tools. Progress® ShareFile® software helps professional services firms reduce collaboration overhead by bringing structure to how teams request, collect, organize and deliver client information securely.
To further explore the findings from the State of Client Collaboration 2026 survey, Progress will host a webinar on August 25, featuring insights from industry experts. Click here to register.
About Progress Software
Progress Software (Nasdaq: PRGS) provides the context and control organizations need to reliably extract value from AI—context drawn from an organization's data, content and workflows, and control over the security, governance and cost of their AI initiatives. Learn how hundreds of thousands of businesses, powering the work of tens of millions of professionals worldwide, realize value from trusted, enterprise-ready AI at www.progress.com.
Progress and ShareFile and certain product names used herein are trademarks or registered trademarks of Progress Software Corporation and/or one of its subsidiaries or affiliates in the U.S. and/or other countries. See Trademarks for appropriate markings. All rights in any other trademarks contained herein are reserved by their respective owners and their inclusion does not imply an endorsement, affiliation or sponsorship as between Progress and the respective owners.
Press Contact:
Kim Baker
Progress Software
+1-800-477-6473
pr@progress.com
