What is Professional Services Automation (PSA)?
Efficiency is a big deal for any-sized business. The problem is that efficiency, true efficiency, is hard to nail down, and if you ever do, it’s extraordinarily fleeting. As a result, many businesses utilize software to create a culture of efficiency. There are many of these systems to choose from, but for the professional services firm, one of the best ways to deliver the type of efficiency they are looking for is to deploy a professional services automation software (PSA).
The PSA combines the capabilities of a powerful CRM with a timesheet system to track time and allows for end-to-end resource management capabilities. It also provides tools to manage the data generated by various business processes. Functioning much like ERP software, the PSA allows an organization to gain efficiency by automating common business tasks. Since much of professional services delivery is to produce for customers who are on a strict deadline with a strict budget, the PSA includes the following features that promote through project management:
- Resource management
- Time tracking
- Expense reporting
- Portfolio management
- Project support
- And more
The more dynamic the PSA, the more an organization can do with it. The PSA, as the name suggests, is mostly used by service providers that don’t provide tangible goods to the user, and is used mainly to meet the challenges every service-based company faces. While providing a powerful customer service solution, it also provides a lot of back-end value that it allows for extensive resource planning, which is valuable when searching for the most efficient manner in which to do business.