Benefits of PSA Software
The Benefits of Implementing PSA Software
There are two main goals in any operation and they are to increase profitability and reduce costs. These can be refined down to increasing productivity, improving quality, stronger customer relationships and and the efficient transfer of information within the organization. When these are in place the business gains more control of its environment and has less risk associated with negative external events.
As a business owner you need visibility into your organization and help with addressing your most pressing operational issues. You need information on technician utilization, ensuring you capture all costs to improve cash flow, good procedures and processes and you need to be able to hold your project managers accountable. And most of all, you need accurate and up-to-date operational and accounting activity.
By implementing professional services automation software you and your managers will have quick access to reports and key performance metrics that support timely and informed decisions. It will reduce data entry points and increase accuracy.
With the right PSA software you will have the correct infrastructure for assigning the right staff to the right tasks at the right billing rates. It allows you to control project success from the initial sales proposal right through to project completion. Because you can match the skills and availability of your staff with task requirements and you can quickly identify over and under utilization, employee utilization can be optimized and profits can be maximized.
Professional Services Automation software eliminates leaks in billable time and expenses, and captures it to a level of detail that supports project and budget management, and contractual requirements. Because your project runs efficiently, your billing cycle and time to payment are shortened.
Below are some more specific returns:
- Improved customer relationships adds stickiness, its harder for a customer to leave to a competitor because the benefits of working with you are clear, proven and tangible. The more reasons you provide to continue doing more business with you the less risk you have by relying on rapport with an individual who may leave or general complacency which leaves you vulnerable to a competitor’s sales pitch.
- Implementing more efficient methods for delivering project sensitive information to stakeholders allows an organization to deliver on time and to do so while maximizing profitability. Whether it be making course corrections pro actively, communicating to sub-contractors quickly, consolidating purchase orders and ensuring just in time delivery of materials as well as maximizing your labor utilization; these all add up to increased customer satisfaction and profit.
- Having the operational side of delivery drive the accounting aspects of projects gives you real-time visibility into your costs to date, cost to complete including all change orders as well as earned revenue. This allows you to track new levels of accountability from those charged with delivery of your projects.
- By continuing to use disparate systems for your accounting and project management your staff are wasting valuable time which can causes frustration, can result in uninformed decisions, and can cause data-related errors as information is transfered from one system to another or from living in spreadsheets. By moving to a single software package it allows management and project managers to see where the project sites in real time, which has a huge positive impact on your ability to quickly respond to project cost, schedule or resource issues. Q360™ PSA software provides you with a complete, integrated source environment with single points of data entry and access for all project budget, cost, schedule, resource planning and utilization, billing, accounts payable and accounts receivable information.
Q360™ is a single system that is a queue-based workflow application designed for your business.