As technology service providers; Professional Services Organisations (PSOs) function differently when compared to other companies. Tasked with increasing roles and responsibilities; their typical day involves juggling various responsibilities including resources allocation, project management, invoicing, and more. With client expectations on the rise; it is crucial to provide clients with immediate response as well as relevantly address their concerns; or else risk losing them to competition. As such, PSOs need to build a workplace with better collaboration, increased transparency and easy accessibility to resources and talent.
Professionals also need to be equipped with the knowledge on how to engage with a client without working at cross-purposes with any other part of the business. While, finding the right solution that blends with the organisational objectives and helps meet client expectation is an ongoing process; the selected system must also help PSOs implement an integrated project and client management culture; that ties together key business goals, helps capitalise on available talent pool; whilst providing complete view into the project costs and expenditures.
Choosing Professional Services Automation Software
PSOs are talent driven organisations; as a result need a solution that helps manage their talent pool and record client interactions along with managing the project milestones and invoicing. An ideal professional services automation (PSA) solution; needs to provide organisations with a platform for resource/ talent management, project management and project billing.
Resource management allows companies to create and maintain an inventory of consultants and specialists along with skills, experience, certifications and hourly rates. This helps assigning consultants to projects according to the expertise whilst keeping tracks of consultant billable hours.
Project management allows businesses maintain or track project activities and key milestones ensuring projects are delivered on time. Professional services project billing can be quite complex depending on the expertise required and the project tiers. As a result, PSAs need to provide tight integration with enterprise resource planning solutions for invoicing and billing customers.
Microsoft Dynamics CRM ‘Project Service’ Module
PSOs can now create and manage projects in Dynamics CRM. By using the “Project Service” capabilities, organisations can create and track a project from opportunity to completion as well as add work breakdown structures and quotes. Businesses are also able to allocate resources to a particular project, create invoices and generate reports. The Project Service module automates and streamlines project financials, customer relationships and project processes thereby offering the capabilities of a fully functional project service automation software.
A well implemented PSA system helps organisations better address client issues, effectively track project bottlenecks, maximise resource utilisation, improve cash-flow and increase employee efficiency. Overall, PSOs wishing to maximise resource utilisation without burning out consultants need a professional services automation software that offers the capabilities of a CRM software, ERP system and accounting solution along with the analytics and intelligence required to identify performance bottlenecks and revenue-generating opportunities.
If you would like to join other PSOs who are able to deliver more with less resources and stay profitable year after year; contact Empower IT Solutions to discuss Microsoft Project Service for your business.