If you are in the professional services world you probably know that effective resource management can mean the difference between making big profits or taking a loss.
On paper, resource management doesn’t sound so hard. You just need to put the right people on the right projects and everybody gets to work, right? But all too often the right resources are simply not available — sales may have oversold or over promised; projects might run long keeping resources tied up; or the right skill sets are simply not in the mix.
The direct financial impact is revenue getting pushed and/or margin erosion. The indirect financial impact is poorly run projects, unhappy customers and under or overworked resources that can lead to attrition. But it doesn’t have to be that way. With the right tools and a collaborative platform in place, you can easily get all the insight you need to scope, plan, manage your people so there are no resource management issues at all.
The secret is integrating Human Capital Management (HCM) with your Professional Services Automation (PSA) application. When these two apps are working together, you get a single source of truth for your talent pool – so you know who to hire, when to hire, how to align the right skill sets with the right projects, manage schedules, and more – all from the same system.
Now you can:
- See which particular skill sets from team members lead to higher performance with different types of customers.
- Have the data and insight to identify who needs training and when, track performance and goals, and make decisions to re-assign or hire based on the data.
- Get all the insight you need to see current and future demand and properly align staffing and team schedules.
It’s a win-win for everyone involved.
Pairing these two technologies is definitely getting more and more industry attention. Holger Mueller, Principal Analyst & VP at Constellation Research, is hosting a webinar on how integrating HCM into your PSA application will bring your PSA teams, organization and best practices to the next level. This webinar will include use case scenarios on how team leaders will use HCM and PSA together to keep your resource management report card in a positive light. If you want to attend, the webinar is on Tuesday, June 22 and you can register here.