Automation is the need of the hour especially if organisations are striving for efficiency, high productivity, and streamlined operations. Let’s admit that automation transcends human capabilities and can only be achieved with the combination of new-age technologies and innovative steps to implement them. Professional services automation (PSA) tools are a prime example of these new-age tech tools and without their integration, automation is not possible in today’s business landscape.
So, what exactly does a PSA software offer and why do organizations require PSA or professional services automation? Let’s find out.
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Why Should Companies Invest in Professional Services Automation (PSA) Tools
One of the most straightforward answers to this question is that a PSA software empowers businesses to outperform their competitors by offering precious insights as and when required. Today, generating numbers and data is not enough. Project managers and other stakeholders need to understand the practical implications of all the data collected.
Let’s dive deeper to understand the potential of professional services automation (PSA) tools.
- Central database
With robust (PSA) professional services automation software in place, you can store all your project costs and revenue-related data in a central database. This simplifies cost estimation across the organization. You can also include another core item in the central database and that is the deliverables. This allows you to understand what you need from each project.
- Standardized processes and working methods
Using the same tool fosters standardization across the organization. This is because the process of entering project data remains consistent regardless of project roles and clients. Therefore, it is easier for consultants to toggle between projects or simply pick up a project from someone who is not available due to different reasons.
- Real-time reporting with PSA software
Real-time evaluation or decision-making based on the most recent data is one of the hardest tasks for managers. It might be challenging to find the exact data you need to make decisions effectively in fast-paced industries. This can result in attempting to do the right thing while deliberating on the next course of action without having the entire information at your fingertips. This can turn out to be a stressful experience for your project managers and even your clients are not likely to receive top-notch service.
- Audit trail
You are able to view ongoing tasks, who are involved and the status of each task when everything is documented in your professional services automation PSA software. This data is useful in different ways, including in the unlikely scenario that you ever need to revisit a client complaint.
- Minimal admin costs
A common trend observed is that the admin costs of businesses begin to go down once they make the switch from spreadsheets and manual tracking to automated tools including PSA professional services automation tools. Time spent on performing administrative tasks including data entry, project plan updates, spreadsheet revisions, and error correction can be utilized in other ways to boost productivity while reducing costs. The advantage of working with a PSA software is that once you enter the data, it replicates across other areas of the system.
Get in touch with our team to learn more about Product Dossier’s PSA software.
