Best Professional Services Automation Software

By integrating the functions of a professional services firm, leaders in professional services firms are able to automate processes and improve key metrics within their businesses. Typically, by correctly implementing and using a professional services automation tool, businesses can improve resource utilization, improve cash flow and revenues, plus increase profits.

For example, imagine you are running an IT consultancy firm. With a professional services automation system in place, you can create opportunities when a client asks you to bid for an RFP, ensuring you retain enough margin to remain profitable. You can then estimate the costs for your proposal and check you have the right consultants and project managers in place as well as ensure that any software or hardware necessary can be purchased and paid for. 

Once you win the business, you can then track every step of the project, as well as all costs and bill the client accurately and on time. When PSA is implemented across your business, you can quickly increase your labor utilisation and take control of your operations in real time. According to a survey, a midsize (173 employees) professional services organisation reported an expected ROI of $23M USD over 5 years by adopting a PSA tool.

PSA systems are now used by firms in many project based industries including:

• Architecture & Construction
• Environmental Consultancy
• Information Technology Consultancies, SaaS & Managed Service Providers (MSP)
• Marketing, Advertising & Communications
• Management Consultancies
• Legal & Law Firms

Enterprise resource planning and professional services automation can be both complementary or interchangeable systems. In some cases, niche professional services automation tools are integrated into classic ERP or accounting systems. In others, professional services solutions take on the same core responsibilities as an ERP such as accounting. 

Whilst there may be benefits to running a PSA system alongside a traditional ERP system, a truly integrated ERP with PSA functionality provides the greatest level of integration and financial visibility into the business.