Do you need direction when learning about PSA software? Not sure if your business requires PSA? The following blog will educate you on PSA software, the benefits, and what to look for before you take the leap!
Professional services automation (PSA) is a process where routine tasks and procedures in the professional services industry are automated through a software application or an IT system. Professional services automation involves the creation, termination and management of a set of processes. PSA is typically used by project managers, consultants and other service-oriented professionals/businesses.
Professional services automation enables professional workers to manage and execute most tasks associated with their jobs. PSA software is designed for a services industry that relies on the management of knowledge and information in order to provide services to clients or other businesses. Some industries that benefit from the implementation of professional services automation software include: management consultancy, marketing services, architecture, computer software services, engineering, accountancy, and advertising.
The professional services industry is growing rapidly, and with this growth comes the need for a PSA solution to help automate the overwhelming workload. According to researchandmarkets.com “The Global Professional Service Automation (PSA) Market is poised to grow at a CAGR of around 10% over the next decade to reach approximately $17.33 billion by 2025”.
What is the main business value of PSA?
Money Saving – this is the most tangible and direct consequence of implementing a modern PSA solution.
Eliminating revenue leakage – a good PSA tool will ensure you bill everything you should. This prevents the possibility of doing work for free or overcharging a client.
Efficiency – PSA enables you to optimize the delivery of the business and ensure you don’t miss any opportunities, slightly harder and less tangible, but very real nevertheless.
The combination of these three values should both reduce your costs and increase your revenue while allowing you to become more efficient and streamline processes along the way.
PSA software has many more benefits, and ultimately it is concerned with helping businesses achieve immediate results by streamlining, integrating and automating processes. PSA softwarecan improve project and resource management, accuracy of invoices and time-keeping as well as revenue recognition, overall performance and profitability.
With real-time actionable insights, PSA software can reduce errors and save you time by performing many administrative functions automatically. It can also be used to improve and elevate customer relationships, leading to return clients and higher levels of communication.
Core modules to look for in PSA Software
Time & Expense Tracking – You will gain the ability to see the time and expenses associated with any project. Track time across teams, projects and individual employees for real-time profitability and resource allocation insight.
Resource Allocation – With PSA software, you have a central dashboard with a view of your entire organization’s resources, you can better plan for and bid on future projects, make staffing decisions on current tasks, and ensure that everything is done on-time and within budget.
Billing & Invoicing – Integrated time tracking and invoicing. You can now create automated invoices within one solution and connect with multiple accounting solutions like Quickbooks and more!
Project Management – PSA software provides real-time access to project statuses to keep you in the loop and eliminate the exhausting task of chasing down update after update from team members.
CRM – You can track and manage the entire sales pipeline and customer relationship, analyze sales performance across the organization and keep everything needed for a single client account on a single unified solution.
The world’s most intuitive PSA solution is here…
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 and seamlessly synchronize projects and accounting within one unified system. Our innovative PSA solution allows organizations to maximize profitability by seamlessly connecting projects and financial accounting, enabling you to manage all stages of your project from conception to completion and deliver on your promises.
CrossConcept Continuum 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.
