What is Professional Services Automation?
Professional Services Automation (PSA) software helps professional services organisations quickly identify opportunities to win, serve and retain customers by automating pipeline management, resource planning, expense and cost tracking and project financial management.
What is the difference between PSA Software and ERP Software?
Professional Services Automation differs from Enterprise Resource Planning (ERP) in that a full project ERP system manages all aspects of projects, including accounting functions. A PSA solution handles front-office functions of the business and projects; it does not typically include accounting tools (such as a general ledger), but it can integrate with accounting tools.
The definition and functionality of PSA solutions continue to evolve and the lines between ERP and PSA are becoming more blurred. The term PSA therefore will often be used to describe an ERP for Professional Services..
Who Uses PSA Software?
A growing number of project-based professional services companies that derive revenues and profits from projects they manage for their clients need PSA software that supports project delivery via project management, project accounting, resource management, time and expense, invoicing, collaboration and reporting. Professional Services firms are found in industries such as consulting, architecture and engineering, legal, accounting and marketing.
PSA for Architecture and Engineering (A&E)
The project lifecycle at architecture and engineering firms includes business development, project management, resource scheduling, talent management and financial management. Whether your A&E firm is small and looking to grow or a larger sophisticated organisation, a PSA system can help you leap to the next level of success.
PSA for Consulting Firms
Consulting firms face challenges such as winning the talent war, compensating and utilising consultants correctly, delivering successful engagements and improving client satisfaction. PSA solutions encompass the entire engagement lifecycle, including client relationships, proposal automation, project management, resource scheduling, time and expense and financial management.
PSA for Marketing Agencies
Marketing and advertising agencies value PSA (also known as work management in this vertical) because it makes managing projects, people and finances easier. A PSA system handles left-brain activities, leaving right-brained creatives free to do what they do best.