Professional services automation
Professional services automation (PSA) is software designed to assist professionals, such as lawyers, auditors, and IT consultants, with project management and resource management for client projects and utilization rate management for billable staff.
Typical PSA functions include project management and documentation, time recording, billing, reporting,[1] and resource utilization.[citation needed] These features are often integrated with accounting, Customer Relationship Management (CRM) systems, and payroll systems in order to improve efficiency of overall operations. As a result, in addition to better managing client projects, independent contractors can prevent lost revenue and slow billing cycles.
Ultimately PSA software suites allow users to integrate industry-appropriate metrics in order to better understand operations and, in turn, improve efficiency and profitability.[2] As businesses grow, the size and complexity of their projects tend to increase as well. PSA software is used to provide visibility into mid-project profitability.[citation needed]
Software types
[edit]In its simplest form, PSA software may offer only timesheet systems (including expense reporting and project management). However, in their most robust incarnation they can also include customer relationship management (CRM), resource management, opportunity and knowledge management.
References
[edit]- ^ Rudolf Melik (April 2002). "PSA: Professional Services Automation: Optimizing Project and Service Oriented Organizations". Wiley; New York, NY.
{{cite journal}}: Cite journal requires|journal=(help) - ^ R. David Hofferberth (April 2, 2001). "Professional Services Automation - Pointing the Way To Higher Profitability". ChannelWeb. Retrieved November 4, 2009.
Further reading
[edit]- Melik, Rudolf (2002). PSA: Professional Services Automation: Optimizing Project and Service Oriented Organizations. New York, NY: Wiley. ISBN 0-471-23018-9.