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

Everything You Need to Know: Fixed Price Contracts and Revenue Recognition for Professional Services Firms

Author: Categories: Professional Services, Profitability, Project Management, Visibility

Everything you need to know about managing fixed price contracts and revenue recognition for professional services firms

Managing fixed price contracts is a source of struggle for many professional services firms. Both private organizations and public companies need to paint a picture of how complete a project is in order to run revenue recognition. In addition, companies need to do so in a manner that is justifiable to its board, shareholders, auditors, and the IRS, all while … Read More

Invoicing for Professional Services: Best Practices and Scalable Processes

Author: Categories: Efficiency, Professional Services, Project Accounting

Invoicing for Professional Services

Invoicing for professional services work is one of those things that seems simple on the surface. Download an Excel invoicing template for consulting services, punch in your hours and rate, render a services invoice, and send it to the client. For professional services organizations with just a few consultants, this is often the approach. Of course, as service teams grow … 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

About to Outgrow Your Accounting System? Look at Your PSA Software Instead

Author: Categories: Professional Services, Project Accounting, Scalability

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

Driving Professional Services Success: How Marginal Improvements Payoff Big

Author: Categories: Professional Services, Profitability, Project Management, PSA Software, Results

Performance Dashboards for Professional Services Firms

Over the years we’ve noticed that the top performing professional services firms are always tinkering with their processes. Their growth strategy is a combination of selling more on the front end, and adjusting delivery operations on the back end. Seasoned managers are constantly evaluating incremental costs and benefits, and making a chorus of small changes that effect dramatic improvements in … Read More

Predicting Professional Services Variability with PSA Software

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

One of the reasons I love doing what I do is that it gives me the opportunity to work with a huge variety of professional services firms—from startups employing just a couple of founders to larger organizations with thousands of consultants scattered around the globe. No matter where they sit along the maturity curve, each organization faces unique challenges. They … Read More

The True Cost of PSA Software – PSA Infographic Deconstructed: Part Five

Author: Categories: Overview, PSA Software

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