The software that professional services firms use every day can easily be taken for granted and profiled as purely tactical tools. These applications are used to manage operational processes and make day-to-day life simpler while driving incremental growth, such as by managing resource allocation, project status, budget projections, and revenue forecasting. However, professional services automation (PSA) software is more than … Read More
Why Services Teams Have To Have it All
This piece of thought leadership was previously published on Forbes Technology Council here, an invitation-only organization for senior-level technology executives. According to recent research, services teams that do three specific things yield 90% higher revenue growth than their industry peers. SPI Research, a leading research organization focused exclusively on the services sector, highlights these advantages in the 2020 Professional Services … Read More
Deliver Projects Confidently with Intelligent Resource Scheduling
Professional services are a rewarding career path, and one of the most enjoyable aspects of the industry is working alongside talented staff with unique skillsets. Account managers, designers, consultants, and developers collaborate to produce exceptional work for clients and stakeholders, often with shifting goals and challenges. Navigating this work on a daily basis is an ongoing achievement that requires extraordinary … Read More
Demand a Partnership Experience that Matches the Quality of Your Service
My first fulltime professional role after graduate school was as a coordinator and later account specialist at a multi-national marketing agency. My strongest memories from that time in my career all revolve around project delivery. My team was defined by our responsiveness to significant short-term spikes in project volume (especially around the Black Friday seasons for retail clients). Satisfying clients … Read More
Making the Case for Best-of-Breed Professional Services Automation
The most recent blog post from the Projector PSA team focused on the idea that time is a professional services organization’s most precious resource. All organizations, regardless of size, need to utilize their time and resources in a way that drives ongoing profitability and efficient project delivery while also ensuring an accommodating work environment. Selecting the Professional Services Automation (PSA) … Read More
Rethinking Resource Utilization: Developing a Growth-Focused Strategy
Is your services team laser-focused on utilization? Resource utilization measures the percentage of time that employees spend on revenue generating activities. While utilization is one key metric that has a significant impact on business growth, it is just that: one metric. Read on to learn how to stop thinking about resource utilization in a vacuum, and how to start thinking … Read More
Strategic Management of Professional Services Firms – 2020 Professional Services Benchmark
Successfully managing a professional services firm is hard. The professional services industry is continually shifting to react to an ever-changing political, cultural, and technological landscape. Yet, this constant change is the very reason that professional services firms exist in the first place. As this year’s 2020 Professional Services Benchmark puts it, “without disruption and change…clients would not need expert help … Read More
What to Do When a Project is Over Budget: Critical Success Factors in Project Management
Professional services project management is all about delivering projects more efficiently and increasing billable utilization. However, even at world-class professional services organizations, the best project managers and team members will run into a problematic project every once in a while. So if somewhere along the way your project goes astray, here is a 5 step guide to deliver projects on … Read More
Service Leaders: Don’t Invest in Digital Transformation…. Unless You Do This First
In an age of big-data and data science, it’s more important than ever to engage in data-driven decision making. Yet surprisingly, there is often a leadership disconnect between where and how analytics can create value for an organization. You can have all of the data in the world but if you don’t know how and where to apply it, you … Read More
How to Measure and Calculate Billable Utilization: Formula for Professional Services
Utilization. Every professional services firm I’ve ever worked with—whether they’re a management consultancy, a digital marketing organization, or a technology implementer—calculates and measures a billable utilization formula. Every professional services manager—from the executive leadership level to delivery managers to department heads—tries to improve utilization. Every billable consultant is, at least in part, evaluated and compensated on resource utilization. Billable utilization … Read More