Choosing the Right Professional Services Automation Solution

Introduction:

Professional services automation tools, though introduced only about a decade ago, have completely revolutionized the way of doing work in professional firms.  These effective, scalable, and robust software systems are a one-time solution for project management. Right from maintaining the finances to the workforce, time and expense management to invoice generation, and delivery of projects to after delivery solutions, it takes care of all. 

Choosing the right PSA solution:

With so many choices available in the market, it becomes quite confusing for most to make a choice. By focusing on a few basic points, one can oneself a considerable amount of time and effort while choosing the right professional services automation solution.

Some of the key considerations for picking the right PSA tool are mentioned as under:

Effective project management

Professionals firms, be it in the IT domain, legal or accounts, deal with diverse projects with varied complexities. The last thing a professional wants is a professional services automation tool that does not aid in managing the day-to-day projects without the help of a third-party service provider. This causes major inconvenience when projects are manually updated in the PSA applications. Moreover, this way it gets difficult to gain real-time insight into the status of the projects.

Hence, the foremost thing to be considered while choosing a PSA tool is an integrated solution for effectively managing every project from scratch to end. 

Additional integrations

It is crucial for a professional services automation solution to allow for integrations to important software systems that are used in various departments of an organization/entity. Why does integration matter? With the integration, your services team can connect simultaneously with your customers’ team, finance team, sales team, and other stakeholders.

For. E.g. If the PSA tool integrates with your finance and accounting software, project data can be seamlessly entered into your accounting system for easy generation of bills, invoices, vouchers, and other related documents. It will also enable accurate recognition of expenses and revenues. 

Similarly, integration of your PSA tool with other systems like CRM, ERP, etc, is highly essential for every section to work simultaneously on each project. This is another crucial feature to be considered while choosing the right PSA. If it does not integrate with your current systems and processes, then there is no point in using it.

Cloud-based solution

Cloud-based PSA software solutions the need of the hour as they help in reducing maintenance costs (due to lack of hardware) and greater efficiency of projects. A cloud-based PSA solution will also allow mobility and remote access to the system facilitating work while on the go. Travels and meetings are a part and parcel of every business and profession. Your absence in the office doesn’t mean your work should come to a halt. A PSA tool without such a feature serves no real purpose to your business!

Flexibility

The right PSA tool is flexible enough to allow users to manage projects with varied business needs. Some PSA tools do not work for all industries while some work for both. Some PSAs might support a few projects you are working on while completely being unsupportive to a few other projects in your hand. The catch is to go for a one that is specially designed to suit the requirements of your industry to avoid unpleasant surprises halfway on the project.

System requirements

It is a must thing to consider before choosing a PSA solution, as all PSAs are not supported across every platform and operating system. If you are a Windows user, you will not generally face any issue with any PSA. However, if you are using other OS, then it is better to go through the system requirements once to avoid technical glitches in the future. Besides the OS, also go through the other technical must-haves your PSA suggests.

Easy billing

Correct invoicing of services is an important part of any business. A little error could result in huge revenue losses. Most of the projects handled by professional firms are a result of complex agreements/contracts containing numerous clauses as far as payments are concerned. All the expenses incurred in the completion of the project including those paid to third parties are required to be correctly incorporated in the PSA tool to generate the correct invoice. This is both time-consuming and complicated when you do not have an effective tool/software in place.

PSA tools these days come with features that enable users to generate invoices just at the click of their hands in no time automatically taking into account every single thing tied to the project.

User interface

An intuitive UI of a PSA solution is of paramount importance for the end-users to easily understand and adapt to its features. Implementing a PSA tool in your organization means every employee will be dealing with it while performing his/her day-to-day jobs. The technical expertise varies from person to person. Hence, it is best to go for a PSA solution that is easy for everyone to operate.

Resource management

Interestingly, modern PSA tools can identify the right resources and time that would be required to complete a particular project. With so many complex projects being on the table to deal with, why take the burden of effective resource and time management on your shoulders? 

Invest in a PSA tool that is capable of tracking your employees’ skills and expertise to match them with suitable projects. Deciding on the right team to work on a project is time-consuming. But with the right PSA tool, a lot of your precious time is saved. Hence, go for a one, which provides this functionality and stay ahead on all your endeavors.

Security

A good PSA software solution should possess the requisite features that would allow its users to maintain the security of the company’s database. Though every SAAS service provider focuses on providing the utmost security to its clients. However, it is the duty of the user himself to go through all security terms and conditions to make sure they comply with the latest security regulations. This way not only does your data stay safe but your organization stays compliant to statutory regulations.

Real-time reporting

Having real-time insights into your projects are important to keep a note of your performance. The best PSA solutions available in the market come with robust dashboard and features that allow users to get real-time information on resource utilization, comparison of actual and planned performance, and more to help in making more informed decisions and improve weaker areas. 

Issue resolution and assistance

Your PSA tool provider should be a team of dedicated personnel willing to assist you at every step to resolve any issues that might crop up with the system. A timely and effective issue resolution is essential to keep the flow of your projects undisturbed. The last thing you want is your queries to remain unanswered.

Learn a bit about your providers’ staff and workers won’t go in vain as well. They should have the requisite knowledge about the technology to educate you on its use. Every software solution faces issues at some point and it is only the provider who can provide the solution to it.

Focus on “how well”

All the above points suggest concentrating on whether the PSA tool has a certain feature or performs a certain task. But what equally important is to determine how well does the software system perform that specific task. The best way to ascertain this is to dig up the clientele of the provider. Look at how the end-users have rated the product and their experience with the same. This would surely help make an informed decision.

Conclusion:

The above-mentioned are some of the most essential features one needs to look for in a PSA tool. Besides, the focus should be on choosing a partner and not just a product. The PSA system will become the core operating system for project management. In a way, the provider will be associated with you for a long time. 

Also, do not get swayed away by future promises. It is quite a popular tactic to lure customers into buying a software tool by promising to introduce exciting features in the future. However, keep your feet on the ground and focus on what is there in the present.