Top 10 PSA Solution Companies - 2020
Professional services automation (PSA) refers to a full-scale software suite developed to assist specialists in project and service oriented businesses. By leveraging PSA, professional services providers can manage client engagements throughout the project lifecycle, beginning with sales, allocating resources to deliver the work and ends when payment is collected. And at the same time, PSA helps plan, manage, and measure the performance of each project. This enabled services providers to deliver more predictably, and also streamline or automate repetitive manual processes.
PSA enables not only tracking of key performance indicators but also helps draw insights required to allocate resources intelligently and increase profitability. This is done by automating time-consuming processes such as project planning and scheduling, financial reporting, and workflow management. Artificial intelligence enabled PSA helps predict when projects can be delivered by taking into account available resources and also make timely and informed decisions about future resource forecasting. When it comes to increasing productivity, PSA is extremely useful since it provides a set of tools for assigning the right people to the right tasks at the right billing rates. On one hand, PSA helps identify lower resolution utilization rates and on the other, aids in achieving higher utilization rates through improved team collaboration.
PSA helps track planned versus actual spending and captures non-billable time and expenses that comprise a significant portion of a budget. By providing information about projects and clients that contribute the most to profitability, PSA paints a clear map of where revenue is being generated and lost. Further, professional service providers can have an accurate picture of resource distribution on projects and see revenue, cost, and profit per each role. These insights can then be utilized to better plan and allocate resources for higher project margins. PSA breaks down information silos and ensures vital data overview across all levels to turn operations into a well-oiled machine.
At this juncture, there are a wide variety of PSA solution providers entering the market with a set of advanced offerings. To help companies navigate through the best-of-breed PSA solutions; CIO Review has compiled a list of Most Promising Professional Services Automation Solution Providers and Service Providers. The enlisted organizations are enabling professional service providers to improve operational and financial performance. Besides, the magazine also comprises insights from thought leaders in the sector on industry trends, best practices, recent innovations, and their advice for aspiring CIOs.
We present to you CIO Review’s, “10 Most Promising Professional Services Automation Solution Providers – 2020.”