Did you know that time-draining administrative tasks are among the top productivity obstacles organizations need to overcome en route to their success?
Professional Services Automation software can help professional services organization increase their productivity while also providing the added extra bonus of improved profitability and productivity. Here’s how PSA makes that possible.
The ultimate purpose of professional services automation software is to streamline projects for a better, much less chaotic project management experience. This includes standardizing project operations and the lifecycle.
A standardized operation ensures projects are launched and executed with much more efficiency, thus saving time. Many processes are also automated when using PSA software, further saving time and resources that would previously have been spent on manually carrying out those tasks.
Ultimately, a standard operating procedure for your projects will lead to a more efficient organization overall. It will help your organization grow, without getting caught up in the nitty gritty of the day-to-day of project management.
Create a centralized data hub
As you know by now, one of the biggest advantages of incorporate professional services automation into your business is that it creates a centralized dashboard for all your project information.
PSA software helps give organizations complete visibility over their data in one central location. By breaking down information silos, data becomes more accessible to all stakeholders leading to better, more efficient decision-making.
Speed up the project lifecycle
So much time in professional services is spent carrying out tedious and manual admin tasks. By automating many of these tasks, professional services automation not only frees up time but helps projects move along faster.
PSA software can automate everything from project setup to financial reporting, resource utilization to meeting management, invoicing to status reports. Automation also helps take away the distraction of admin tasks and ensures project professionals can maintain a single-minded focus on their deliverables.
The focus on efficiency means you and everyone involved in the project can spend more time doing productive work that moves the needle and leave the tedious work to the software.
Improve cross-functional team collaboration
Professional services organizations don’t function in silos yet information is often stored in silos. This makes collaboration difficult, sometimes results in duplicate work and can also slow down a project due to the lack of information visibility.
A PSA solution can contribute massively towards better collaboration between cross-functional teams. The tool centralizes everything (as you already know) so there are no information silos. Everything is easily accessible for all involved in the project.
PSA software allows you easily build projects, create tasks for different tasks, assign them to different people, upload assets such as images and documents, comment on tasks and more. Additionally, all stakeholders can easily find the answers they need for the project, right within the tool which means much less wasted time overall.
Your PSA tool will become the central hub for all project organization, communication and collaboration and ultimately lead to a much better, collaborative and more productive team.
Focus on revenue-generating clients
Data visibility within your PSA solution can affect your bottom line in a way you may not have thought of before.
Reporting within your PSA software can also be very useful for learning more about your clients. The data may show you that some clients are more work than they’re worth. While others consistently generate great revenue for the business.
This easily accessible data will allow you to focus more of the team’s energy and resources on the revenue-generating clients. It also means you can choose to take a step back from the energy-draining, resource-heavy clients that aren’t making an impact on revenue.
Minimize costs and boost profitability
Profitability is every business’ priority. But often organizations get caught up in revenue-generation and lose sight of profitability.
Professional services automation software helps ensure this doesn’t happen. As your PSA tool keeps track of all project data, you will find you can learn a lot from the data.
The data can show you which projects drain your resources without creating a positive impact on the bottom line. The data will also tell you more about your workflow and point out inefficiencies that need to be addressed. Further, your tool can also give you better visibility of when client contracts may be up for renegotiation.
All of this data comes together to help you understand where you can make improvements to your project management and how you can address possible opportunities to ultimately minimize costs and boost profitability.
Finally, PSA software eliminates the need for your business to invest in multiple tools serving multiple purposes. Why invest in six different pieces of software when one will do the job? This is obviously useful for centralizing your project in one hub but is also much more cost effective for the business.
Automate project reporting
Modern PSA solutions eliminate the need for guesswork. With data centralized in one place, project reporting can be automated, ensuring all stakeholders always have all the information they need to work efficiently.
This integrated data overview leads to better, and possibly much more granular reporting across various functions and activities within the organization. Access to better reporting also leads to better decision making, overall. With more visibility over what’s working and what’s not, time taken for certain tasks and projects, and a better understanding resource utilization—this reporting helps professional services organizations improve projects with each iteration.
Improving productivity at any business usually goes hand-in-hand with an increase in profitability as well. PSA software can not only help create a more efficient organization but also provide better project overviews that can be cost-efficient for the business in the long run.
With a suite of first-class features, the Mission Control PSA software can help your organization increase productivity and improve profitability today.