Do you provide engineering, software or IT services? Then you’ve no doubt heard about how a professional services automation (PSA) software platform could help your business. You also no doubt know that they’re – well – not inexpensive!

Also, implementing a PSA can be time-consuming and there’s a learning curve. In the short term, bringing one online will disrupt your business. But the long term? It could be a game changer as it pretty much can run your entire business!

It’s a central spot for everything: client lists and information, inventory/assets, billable time (if you bill by such), invoicing/payments, contracts (creation, editing and storage of), your process and procedures, etc.

In other words, once up and running it’s pretty much an operating system for your services business.

But do you REALLY need a PSA?

After all, you probably already have a customer relationship manager (CRM). Your CRM likely offers modules such as document management, billing integration, even a customer help desk in addition to its client management, data reporting capabilities, and more.

One and done, right?

Possibly. But let’s add a little something to the mix: automation!

Note the “A” in PSA: automation. A professional services solution platform is the center of your company’s operations. Not only does it hold your information about billing, doc management, contracts, supplier agreements, your Helpdesk, etc., it automates its connections between different areas.

For example, a PSA usually integrates with other tools your company uses, such as accounting, invoicing, data monitoring and management, data backup, and so on.

That means your PSA will

  • Show you which of your IT tech/engineering employees and/or contractors are logging in the most time.
  • Discover which clients are either bringing you the most value (per hour worked and expenses) or which ones are taking up too much of your time to be profitable clients.
  • You’ll know what services are truly within your client’s contract scope of work.
  • Your finance team members will know which contract employees/contractors are on, any additional billing clients may need to receive for extra work beyond the scope of the contract, and so on.

You could do all of this manually.

But automate it with a PSA and everything changes

A professional services automation platform means you can retain all the information and data you amass over time and use it again and again and again, making your services business more effective, more efficient and…more profitable!

For example:

You provide a quote for a new engineering project. You then deliver it. You then bill the client. All is good, right?

But did you make a profit?

The client gave you money, of course, but then you purchased the equipment, paid your employees/contractors, had to reconfigure one aspect of the project due to the client changing its mind over a minor issue (one that was covered in your original contract).

So did the time and money you spent come out to less than the fee your client paid you?

Your “gut” says yes, but what does the PSA say?

You take a look at:

  • Workers’ salaries/fees and their billable hours on the project.
  • Administrative work (equipment purchase/rental, client queries, requested changed, etc.
  • Expenses incurred by workers and repayments to them disbursed.

And then the PSA adds it all up, subtracts it from the fees your client paid and….you have your answer!

Accounting power that shows true profit – or loss – not a “gut guess”

The Aysling Professional Services Automation platform, for example, integrates directly with QuickBooks Online, easily helping you leverage its advanced accounting technology.

And that means you’ll know the truth, allowing you to adjust bids, expected costs, the ROI on hardware and software, etc. for future projects, helping ensure that projects really are profitable.

So is it necessary to have a PSA solution for your business?

If you want to save time, money and headaches? Yes!

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