Growing a professional services firm to $10 million in profit depends quite a bit on the systems, structures, and strategies deployed by the firm. See what the latest Professional Services Benchmark reveals about the impact these choices can have.
When Should You Implement a PSA Solution
Are you still managing your professional services firm with spreadsheets, whiteboards, emails, and a host of manual processes? Do you know what sort of software you need to manage your consulting firm more efficiently? Should you settle for a series of individual point solutions—separate time tracking, invoicing, project management, and resource scheduling applications—or invest in an integrated Professional Services Automation … Read More
What is PSA Software? – A Deep Dive into Professional Services Automation
“What is PSA software?” It’s a question that I get all the time. I can answer that here (and I will), but in the tradition of great journalistic practices, I’ll do more than that. Journalism 101: in order to tell a compelling (and complete) story, I’ll make sure I answer the what—but will also cover the who, when, where, why, … Read More
Getting the Right DIRT on Time Reporting
Labor is the largest investment made by a professional services company. There are two important quality measures: accuracy and timeliness. Accurate time reporting leads to higher project profits and resource utilization, as well as greater customer satisfaction. The benefits of accuracy are: Better knowledge of project profitability and resource utilization Better process improvements through better knowledge of actual effort Correct … Read More
About to Outgrow Your Accounting System? Look at Your PSA Software Instead
The Plot… A few years ago, a prospective client came to us and said they were interested in implementing Projector as their Professional Services Automation (PSA) tool. At the time, they were a small, 8-person start-up consultancy and Projector was probably overkill for their existing needs. They predicted, however, that they were going to grow, both in size and in … Read More
Is a Professional Services Automation Solution in Your Plans for the Coming Year?
Early September here in New England always represents a wonderful time of transition. The lazy days of summer yield reluctantly to the crisp crackle of autumn air. Majestic maples and oaks ready themselves for one final ostentatious display before settling in for a long, grey winter. Home gardens burst with the last of the summer’s bounteous harvest. Kids don shiny … Read More
Performance Dashboards for the Professional Services Organization
As an executive of a professional services firm, what do you care about? Are we doing better this year than last? How is revenue tracking this year versus target? Who’s busy and who’s not? Do we need to hire? What clients or projects are in trouble? Is the pipeline healthy? Are we overly dependent on one key client? Do we … Read More
The True Cost of PSA Software – PSA Infographic Deconstructed: Part Five
Over the past few blog posts we have been examining the different aspects of how professional services automation (PSA) software can benefit a service organization. From enhancing utilization to streamlining the delivery process and ultimately improving profitability, PSA software is an essential tool for service firms. We’ve spent a significant amount of time demonstrating the effect service automation software can … Read More
How PSA Software Helps You Deliver More with Less – PSA Infographic Deconstructed: Part Four
Over the past few blog posts we’ve examined how service organizations can enhance their profitability by implementing a professional services automation (PSA) solution. We covered increasing utilization, improving project margins, and using PSA software to deliver more successful projects. Today, we’ll take a look at professional services software from an operational efficiency perspective—delivering more with less. Because services automation software … Read More
Infographic: 8 Fast Facts about Professional Services Automation
Updated April 20th, 2016 – I’m a writer…and a reader. I admire the elegant turn of phrase, the graceful arc of a tale well told, the inescapable logic of an argument well made. I’m also a visual person. I relish diving head first into a great photograph, letting it lead my eye around like a puppy on a leash. I … Read More
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