In 2012, the Bureau of Labor Statistics reported that there were more than 116 million jobs in the U.S. In the service sector, making it the largest share of the labor market, with a 79 percent share. By 2022, that number is expected to reach 130 million. As the service economy grows, these companies must have the right tools to manage customer lifecycles and stay profitable in the back-end.
This negotiation involves thousands of mobile parts for each industry, generating a proportionate amount of business applications for process automation, from the basic spreadsheet to the ERP system on a large scale. This guide will examine professional services automation (PSA) software and how it can give project and service organizations a competitive advantage, before comparing four leading PSA software solutions.
Professional services automation software is a thorough solution to manage a service-based company and manage the information produced by different business processes, so some referred to it as the service industry’s ERP. Despite the parallel, PSA can be difficult to define and understand due to its comprehensive scope.
PSA is intended to automate popular company tasks and to handle them. The goal is to ensure that customer projects are delivered on time, under budget, and according to customer needs and specifications.
The software manifestation of this can be as simple as timesheets and project management, or as robust as an enterprise suite with integrations for CRM, help desk and accounting.
Best PSA Software For Your Business
1# Work front
Workfront is a web-based project management tool developed by Workfront, formerly AtTask, based in Utah. It was designed for IT and marketing teams, but can be implemented for any type of project. Workfront offers all the standard features for project management platforms.
2# ConnectWise Manage
ConnectWise Manage calls itself an enterprise management platform for companies that sell, service and support technology.
According to the vendor, the product is compatible with 110,000 users and helps them achieve greater accountability, operational efficiency, and profitability.
Clarizen is a world leader in software for cooperative job leadership. The vendor’s value proposition is that its enterprise-class SaaS solution simplifies work, reduces communication overhead, and provides broad visibility at any level of the enterprise.
Mavenlink provides advanced project management and task collaboration software for small and midsize professional services companies. Features include resource management, project dependencies, time and expense tracking, file sharing, versatile user permissions, private messaging and planning.
4# OpenAir PSA
NetSuite OpenAir is a cloud-based professional services automation (PSA) product that includes capabilities around project management, resource management, project accounting, etc. NetSuite OpenAir PSA is well suited for time tracking and project/resource management.
For this we use it and it does it well. As with such systems, it is as good as the data it has, so if team members are not entering their hours, it can be useless. Some mechanisms to notify / “force” users to enter their data will always be useful.
Changepoint is a platform that combines professional services automation (PSA), project portfolio management (PPM) and business analysis to provide managers with broad operational visibility and control over their strategic business portfolios.
6# FinancialForce PSA
FinancialForce Professional Services Automation software is also a cloud-based services solution based on the Force.com platform.
It enables companies to manage professional resources, customers, projects, and finances in one integrated services management application.
7# Tenrox Professional Services Automation
The Tenrox Professional Services Automation (PSA) solution is modular, cloud-based project management, service delivery and billing solution designed to support customers and workers on globally dispersed projects operating in multiple remote locations, currencies and tax jurisdictions.
Time and expense tracking software from Journyx aims to streamline timesheet collection and processing, reduce payroll time, increase client billing and increase project profitability. The provider says Journyx helps him collect better time and expense data to make better, more informed decisions.
Accelo promises to allow you to streamline your business and automate repeatable processes. Depending on the vendor, Accelo tracks customer accounts, projects, timesheets, sales, tickets, retainers and more for you, so you can spend less time in meetings and dealing with the administrative work, and more time focusing on quality and inoculation.
Unanet is on-site or in the cloud project management software. Features include resource planning, skills management, budgeting, forecasting, time tracking, expense reports, billing, revenue recognition, and project status and performance reports.