Making the Case for Best-of-Breed Professional Services Automation

Author: Categories: Benefits, Growth, Overview, PSA Software

best-of-breed psa software

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

Author: Categories: Benefits, Growth, Professional Services, PSA Software, Resource Management

resource utilization calculation

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

How to Measure and Calculate Billable Utilization: Formula for Professional Services

Author: Categories: Benefits, Efficiency, Professional Services, PSA Software, Resource Management

What is billable utilization in 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

The Ultimate Guide: What is PSA Software?

Author: Categories: Benefits, Overview, PSA Software, Results

The Ultimate Guide: What is PSA Software

This article answers the question, “What is PSA software?” and covers the critical aspects you need to know. Professional Services Automation software is sometimes referred to by several other names, some formal and some informal, such as: Whatever name you wish to use, Professional Services Automation software is the core operational system for professional services resource planning, project management, and … Read More

The Best Way to Select Software for your Professional Services Firm and Get it Right

Author: Categories: Features, Professional Services, PSA Software, Scalability

Selecting professional services software for your firm

You have undertaken the selection process to find the right software solution for your professional services firm. You have a laundry list of functions the software needs to perform, you have Googled professional services software vendors, and you are quickly feeling overwhelmed with a handful of options, each promising to meet your every need. How do you sort through this … Read More

When Should You Implement a PSA Tool to Improve Delivery Efficiency

Author: Categories: Overview, PSA Software, Results

Are you still managing your professional services firm with spreadsheets, whiteboards, emails, and a host of manual processes? Do you know what type of business software, such as a PSA tool, and business processes you need to manage your consulting firm more efficiently? As a savvy professional services executive, you might be asking yourself these important and perfectly reasonable questions … Read More

6 Revenue Forecasting Mistakes Professional Services Firms Make – Part 2

Author: Categories: Benefits, Growth, Professional Services, PSA Software, Resource Management

At the center of every professional services firm, there is a revenue forecast. Regardless of the platform used to develop a revenue forecast—spreadsheets, whiteboards, or Professional Services Automation software—every services manager is trying to predict what the future may hold.  And revenue forecasts are just that, a prediction. In my last post (link below) about revenue forecasting mistakes, I took … Read More

6 Revenue Forecasting Mistakes Professional Services Firms Make – Part 1

Author: Categories: Benefits, Growth, Professional Services, PSA Software, Resource Management

Professional services firms live and die by their ability to forecast revenue. Although there are many types of forecasts that service firms perform—utilization, profitability, or backlog—they all tie into an underlying revenue forecast. Get your revenue forecasting right, and you have an appropriately sized firm that has a healthy service mix. Get your predictions wrong, and you will be under … Read More

Revenue Forecasting Models for Professional Services Firms

Author: Categories: Benefits, Growth, Metrics and Reporting, Professional Services, PSA Software

Revenue forecasting is more of an art than a science—for professional services firms at least. Although the inputs used are quantitative in nature, successful service executives will often layer in their perspectives on the business, the market, or key accounts. Perfecting the qualitative aspect of forecasting revenue comes with years of experience working in PS firms. The underlying forecast model, … Read More