We talk a lot about core metrics for professional services organizations, and for the past 15 years, we have worked with hundreds of services teams to illuminate KPIs for consultants. These are the metrics that keep professional services organizations in business (and growing) year after year. If you work for a PSO, then metrics like profitability, utilization and delivery success probably come to mind. But what about all of the secondary, often underrated metrics that are crucial to a PSOs success?
Projector’s CEO, Denis Whelan, touches on the topic in a piece he penned for Forbes. The article got us thinking: what are the other underrated benefits of a PSA tool, and how can we share them with our audience? Read on for our thoughts.
1. Prevent burnout
It’s an employee’s responsibility to keep their job, but it’s the employer’s job to retain top talent. Burning out key people is a surefire way to guarantee staff turnover, leading to low morale across teams and of course the high costs and associated delays that come with finding replacements. A recent Gallup survey of 7,500 full-time employees determined that two of the top five reasons for burnout are an unmanageable workload and unreasonable time pressure. This can ultimately derail revenue per employee, project profitability, and client satisfaction. We talk more about this in the aforementioned Forbes piece on surprising ways to address consulting burnout.
2. Guarantee higher customer satisfaction
The real benefit to customers is a promise kept throughout the entire lifecycle, from the time a project is sold all the way to its completion. A PSA tool will surface reliable data around what a sales team can actually sell (balancing project deliverables with staff capacity), informing the planning process and allowing projects to kick off faster. Capacity planning with a PSA system engages the services team while projects are still in the pipeline, and the resulting clarity helps teams to deliver with confidence and ace the customer experience. An added benefit? Foster better collaboration between services teams and their customers, surfacing issues in real-time and quickly resolving speedbumps before they become real problems.
3. Happier, more engaged employees
Are you measuring how fulfilled and connected your employees are to your business? With a PSA tool, managers can support employees by proactively staffing against projects in the sales pipeline, syncing skills and available hours for optimal resourcing. Doing so will improve employee satisfaction by getting the right people on the right projects at the right time. Our customers are also often pleasantly surprised to learn that time entry and tracking becomes easier with Projector, leading employees to feel recognized and become more engaged. And we all know that when teams are motivated, involved and committed to the success of your organization, everyone wins.
4. Team cohesion and better decision making
Profitable, successful projects are a result of tight collaboration between sales, delivery and finance — plus strong communication with the client. With a PSA system, stakeholders from all of the involved teams can lean on a unified source of truth to understand, track and act upon details as a project progresses and new details arise. Projector’s BI platform consolidates data from across the organization so teams can stay on the same page — measuring, forecasting and ultimately making better business decisions. With visually rich dashboards, everyone in the organization (plus external stakeholders and customers) have the visibility they need to drive success. With this visibility, teams remain in lockstep, progressing towards the shared goals of delivery success, project profitability, satisfied customers and a happy workforce.
If this piece resonates with you, or you’ve experienced any other secondary benefits of PSA software, we’d love to hear from you.
On the other hand, if you’re in the market for a PSA tool, we highly recommend checking out our Buyer’s Guide. We’ve compiled years of geeking out over PSA technology into an ebook with advice on how to navigate the complex software market aimed at professional service organizations.