Why PSA Software is Crucial for Services Firms in 2020!
It's officially 2020! In this blog, we discuss PSA software and why services firms should adopt it in 2020.
The primary goal of Professional Services Automation (PSA) software is to streamline and reduce the burden of processes for users in the services industries such as consulting, engineering, architecture, IT, marketing, legal, accounting and more! Basically, any business that offers billable services will see their processes streamlined by the use of PSA software.
PSA software enables users to generate workflows and enhance the testing or reviewing of
operations. To achieve these outcomes, PSA solutions can offer a variety of features including project management, time management, resource management, document management, crm, financial accounting, reporting, and billing and invoicing. Through these features, users can gain 20/20 visibility over their projects at any given time. Furthermore, many PSA solutions are tailored towards the needs of specific business verticals and processes. These specialized solutions can be very useful as they generally provide a range of industry-specific capabilities, therefore, it is certainly worth considering how beneficial a desired solution will be for your businesses unique needs.
According to Big Market Research, "The global professional service automation software market size is estimated to reach $16,015 Million by 2025, at a CAGR of 11.7%". Rapid advancements in functionalities of the solution are anticipated to boost growth. Increasing needs to improve operational efficiency among professional service firms are expected to propel the market over the forecast period. The companies have been focusing on optimally aligning resources while profitably delivering projects on time. PSA tools offer benefits such as optimized staffing, improved collaboration, and automated time and expense.
Small enterprises have been using spreadsheets for various tasks such as resource and time management. However, as businesses grow, complexity, need for automation, and the challenge of maintaining business quality, throughput, and effectiveness will grow as well. Small-sized businesses are untapped markets and increasing IT budgets of these enterprises are expected to demand over the forecast period.
How PSA Software Can Help Your Business In 2020
Automated Workflows
It's 2020 and competition for professional services firms is higher than ever! PSA software helps you stand out from competitors by freeing up time spent on manual cumbersome task, freeing up your resources to spend that time on more revenue orientated tasks and projects. More advanced, robust PSA solutions also provide crm and financial modules right out of the box. This eliminates the need for your resources to set up projects manually. Time saved on administrative duties can be better-spent customer satisfaction and ultimately greater turn-over.
Enhanced Project Control
PSA software typically comes out of the box with an array of features around project management which allows for effective budgeting and planning. In addition to project visibility, resources will also have the necessary insights to stay within project scope and budget from conception to completion of each project. This is because PSA software allows you to track project costs at a very granular level. You can easily account for every minute of time spent on each project and all the resources associated with it. Additionally, this allows you to analyze the productivity of your assigned resources to help you maximize your output and make better future decisions.
Data-Driven Decision Making
Incorrect or uninformed project decisions is a huge time waster and a risk for professional service firms. PSA software contains all the information around a project in one unified solution. Any updates or changes made is global across the PSA solution giving all resources access to view the changes avoiding the need for manual edits. Additionally, PSA software enables resources to track all of your projects: you can view historical costs, risks, and pay-offs in order to get better insights on how to price in the future. Information is key for effective management of a service firm, and PSA software provides the answer!
Effective use of professional services automation tools can help organizations improve productivity, operational efficiency, financial margins, and billable utilization. PSA software improves project management and resource management by increasing efficiency through increased collaboration and personnel utilization, better planning, and integrated knowledge management. The software also provides standardized reports, which help management make key business decisions.
PSA software really is a no-brainer for any service firm hoping to scale in 2020!
Why not try a Free 14-day Trial...
CrossConcept Continuum goes beyond traditional PSA solutions available today by incorporating cutting-edge UI technology making the solution more user-friendly, resulting in fewer clicks within the solution and time spent logging data. CrossConcept Continuum has been built from the ground up to integrate with all major accounting systems to seamlessly synchronize projects and accounting within one unified system. Our innovative PSA solution allows organizations to maximize profitability by integrating connecting projects and financial accounting, enabling you to manage all stages of your project from conception to completion and deliver on your promises.
CrossConcept has decades of experience helping service organizations automate their processes. Clients have ranged in size from a handful of people to over thirty thousand. The founder's and
team’s real-world experience is what drove and shaped the creation of CrossConcept Continuum.
Our solution is a simple, yet powerful PSA solution built with the end-user in mind - fast, flexible, powerful and user-friendly! We are offering all new clients a free 2-week trial with no contract obligations. This is a great opportunity for any business to try out the solution and decide if PSA software is for you!
To book a free 15-minute consultation, email: marketing@crossconceptinc.com or call: 1-888-528-3898 x110.