What is PSA or Professional Services Automation?
PSA, or Professional Services Automation, is software that can be used by professional services organizations, or MSPs, to streamline and optimize various aspects of a project. It can automate routine tasks and procedures in the professional services industry. With the help of PSA software, you can streamline and automate your project management and customer relationship management operations under one roof, reducing your overall operational costs and boosting your profits. Professional Services Automation software can be customized as per the business model. It can be different for a project or a managed service.
Why do we need PSA software?
When a company is small, it can focus on all aspects of the project and manage to give a good delivery. But as an organization grows, it becomes tough to keep up the pace and manage various aspects of different projects at hand, deliver them on time, and manage them efficiently with full client satisfaction. PSA can be a game changer; with the help of data, it can automate the whole process.
Let’s see the features a PSA software can provide:
- Resource Management
It can help in allocating the resources efficiently and optimally. Whether it is employees, contractors, or equipment, if not used properly, the project cannot be completed on time and efficiently. But it all can be automated and managed properly with the help of PSA software.
- Budget Planning
PSA can help with real-time monitoring of the project budgets. It can help in tracking expenses compared to budgeted costs, which were planned, which can help in preventing overspending or underspending in the project lifecycle. It can also help in budgeting for new projects with the help of data on expenditures from past similar projects. It has the capability of making every project profitable.
- Time Tracking
PSA simplifies time tracking through centralized and project-focused management of working hours. Neither manual time tracking nor any other software is required, and thus it helps in improving accuracy, reducing administrative burden, and practicing proper time management.
- Reports & Analytics
PSA makes use of past as well as real-time data, which can help in analyzing and generating useful insights that can help in completing the project efficiently and on time. It can identify bottlenecks, and based on the data and reports, it can optimize resource allocation.
- CRM Integration
CRM is an important part of any organization because it helps with client satisfaction. The PSA software can seamlessly integrate with CRM to track and manage client interactions and opportunities. It can help maintain strong client relationships.
- Collaboration & Communication
The best project coordination can be done when team members, clients, and stakeholders have clear and transparent communication and collaboration, and PSA software provides you with all the capabilities to put it into action.
How to decide which PSA software to use:
To choose a perfect professional services automation software following points should considered:
- It should have a simple and user-friendly interface. Some software are so complex that for a normal person, it can be a hectic job just to understand how it works.
- The software should be customizable as per what the organization needs and is working on.
- The project budgeting and profitability feature should be very crisp, clear, and accurate; otherwise, a big loss can happen while executing the project.
- It should be easily integrated with your existing software and CRM.
- It should be easy to implement.
- It should have the feature of billable vs. non-billable hours.
- It should have the features of time tracking, time allocation, and time of completion.
- It should have the functionality of collaboration and communication between the team members and the client.
- As mentioned above, it should provide project insights with reports and analytics.