4 Benefits of PSA CIOs Must Know

By CIOReview | Tuesday, October 29, 2019

Most professional enterprises know that they need PSA. However, there is a big difference between knowing it and considering it. Are CIOs aware of its benefits?

FREMONT, CA: Manual processes can be arduous and frustrating for many enterprises, but they can be downright debilitating for professional service providers. From sluggish project management workflows to prolonged billing and invoicing, manual activities strike professional services companies where it hurts the most.

However, professional services automation (PSA) services provide an alternative to the range of different project management, invoicing, time tracking, business intelligence, resource planning, and collaboration tools utilized by various project teams.

PSA software determines a constant procedure for planning, managing, and measuring the performance of every project during its entire lifecycle. The software centralizes business processes and data, which causes the services to be delivered more predictably and repetitive manual processes to be streamlined or automated.

Before adopting PSA software, it is advisable for the CIOs to have an insight into the software’s benefits.

1. Methods of Working Are Standardized

When everyone makes use of a similar tool, the ways of performing the tasks become naturally standardized. Regardless of the enterprise’s role in a project or whoever the client is, the user interface for accessing the company’s project information is consistent. This makes it convenient for the consultants to migrate between the projects, or to take a project from somebody else who is unavailable for the business for a while, probably because of sickness, for instance.

2. Audit Trail

The company can keep track of every activity like what happened when, and who was involved if everything is documented within the company’s PSA software. It turns out to be very useful in the scenarios in which the company needs to go back and check a client’s complaint.

The software enables the CIOs to keep a check on the ongoing project. This software is great for attaining knowledge from good practice and sharing process enhancements amongst the team. Since the solution documents the history, it is also very helpful in the events when the projects don’t go according to the plan or customers are not satisfied with the service. The company can revisit the details of its PSA software and see precisely what went wrong.

Check out: Top Professional Services Automation Solution Companies

3. Organizations Possess a Central Database in the PSA App

Cost data and project revenue are stored centrally in a database. This makes it convenient to view cost predictions across the enterprise. There is a presence of another core item as well, i.e., deliverables. Since the software empowers the companies to track the same system costs and expenses, it can measure productivity too. This gives it access to powerful reports.

4. Lower Admin Costs

What is noticed regularly in clients that shift from spreadsheets and manual tracking is a reduction in their admin costs. Admin time for updating project plans, entering data, revising spreadsheets, and unpicking mistakes can all be used in a better way.

The advantage of PSA is that the data is entered only once. It can be replicated into other domains of the system wherever it is required. That gives the company’s resources freedom to work more productively and efficiently and on billable services.

No wonder, PSA software offers great privileges to an organization. However, CIOs are advised to pick the right vendor before incorporating this excellent software into the company’s system.