How Your Organization Can Benefit
from Professional Services Automation

4 Areas of Your Business You Can Improve
Right Away with PSA

Business professionals have a lot to juggle, which makes tasks like utilization rate management for billable staff or tracking of client projects an extra and often heavy lift in an already packed work schedule. Professional Services Automation is designed to help, and take the guesswork – and legwork – out of project and resource management.

Professional Services Automation from FinancialForce is built on the Salesforce platform, providing a complete, customer-centric view of your business on the cloud that connects your entire organization end-to-end.

Interested in learning more about FinancialForce PSA?
FinancialForce PSA Datasheet

But what does that really mean? Let’s break down the four areas of your business that would be impacted by implementation of a Professional Services Automation solution, and how your business processes and your customers’ experience with your company will benefit as a result.

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FinancialForce PSA

FinancialForce Professional Services Automation (PSA), ranked #1 on G2, leverages the power of Salesforce CRM and the Salesforce platform. Gain unprecedented visibility into your business across sales, services delivery, and finance. Keep projects on time, customers happy and reports up to date–all on one integrated platform.

1. Project Financials: Project Accounting to Maximize Profits
and Minimize Pain

Get a full view of every project’s financial health at any time. Without a PSA solution, you may have visibility into certain financial data, such as bookings, invoices, and basic costs, but without a complete view, you can’t know exactly where a project stands, which impacts the customer experience and your business.

Using a Professional Services Automation solution, you have complete visibility over the following financial aspects of a project – see how this list compares to your current level of detail.

Project Financial Software

Financial Health. Quickly view critical financial health data and make swift adjustments as needed. You’ll be able to track profitability and keep projects on budget.

Billing and Invoicing. Keep administrative costs low and deliver a better customer experience by handling tedious pricing and billing processes through your PSA solution. Automated billing and flexible configurations eliminate human error and save you time and costs.

Project Margins. Know whether a project meets profit targets before it even begins. Grow your project margins with simple tracking of revenue, profit, and expenses at any time.

Revenue Recognition. Easily manage revenue recognition as projects progress by connecting directly to milestones or project completion percentages.

Project Budgeting. Track time and expenses in real-time for each project, and compare estimates with actuals to make more accurate future projections and keep projects on track.

2. Time and Expense Management

PSA - Time & Expense ManagementFor many businesses, managing employee time and expenses not only itself requires time and expense but can uncover glaring gaps in your process for tracking activities. Employees work quickly and often move between projects with some overlap – and these types of hectic work schedules undoubtedly result in incorrect time and expense reporting. A shift in focus to a different project for any period of time can easily be forgotten and later go unaccounted for, which ultimately costs your business money.

With Professional Services Automation, you can better capture and track time and expenses, ultimately reducing revenue leakage and keeping your employees more satisfied. Here are some quick wins for your business when you use PSA for time and expense management.

Increase Facetime With Customers. When your employees aren’t spending time performing administrative tasks, they can focus more on the customer, which contributes to a more fulfilling professional experience, and an improved customer experience.

Streamline Approvals. Delayed time and expense approvals can create bottlenecks, and it may feel almost impossible to catch up once this type of backup is created. Instead, make approvals in a snap and ensure no time or expense entry falls by the wayside.

Accommodate Travelers. If your business has employees out in the field, it’s critical to create open and functional lines of communication. With mobile access, no time or expense entry is delayed or missed, keeping your business processes on track whether your team is in the office or on the road.

3. Dashboards and Reporting

With so many organizational processes happening at once, it can be overwhelming to collect the right data, let alone leverage it for valuable insights and improved decision-making.

A Professional Services Automation solution takes the onus off of you and your team to scour mountains of data. Instead, valuable insights are put right in front of you, so you can save time and improve your business with better planning and future-proof operations. The key features of a PSA solution for data analysis and reporting may have you wondering how you’ve operated any other way.

Data Visibility. With real-time dashboards that are customized to provide only the data you need, you’ll have no trouble gleaning relevant information and leveraging it to drive timely, actionable business decisions.

Management Dashboards. Different roles require different data to make decisions and interpret performance. Personalize dashboards based on management level and role to ensure only the most relevant, actionable information is provided to keep your teams as proactive as possible.

Business Reporting. Services businesses collect data across customers, regions, offices, and teams – and that data needs to be consolidated and available to the right people. Collect data from a single project or an entire portfolio to see only the information you need when you need it.

4. Sales Engagement

PSA - Sales EngagementSales shouldn’t be siloed, and yet in many organizations, the sales team operates almost independently, with limited data-sharing with other departments. This type of process is detrimental considering the amount of customer information sales teams collect that could inform work in other departments, and, conversely, the information other departments have that could empower sales.

Bring your sales teams into the fold and connect valuable customer information across your enterprise with a PSA solution. The immediate benefits are clear.

Cross-Departmental Collaboration. Be proactive and participate early in the sales cycle to create accurate quotes and manage customer expectations. Maintaining visibility over projects across departments improves customer experiences and your profit margins.

Capacity Planning. Provide services teams with visibility into the sales pipeline to help them plan better. Understanding the sales trajectory for customers helps with early identification and mitigation of gaps between supply and demand, and sets expectations for resource requirements before a deal is closed.

Services Handoff. If a handoff of projects won from sales to services is not currently happening at your organization, it should be! With a PSA solution, all won opportunity data can be visible on a single platform to all teams, which allows for greater continuity, fewer errors, and richer data on successes and other opportunity details.

PSA solutions help you keep projects on time and on budget, while meeting or exceeding customer expectations, and streamlining cross-departmental operations within your organization. You have a lot of processes moving quickly all at once – why not gain greater visibility over those projects and better inform business decisions and future planning at the same time?

Contact us today to schedule a demo and learn more about how you can leverage FinancialForce PSA on the Salesforce cloud platform to streamline your operations and put your customers at the center of everything you do.