Services organizations today are dealing with increasingly specialized work and a siloing of data and departments that are caused by myriad systems intended to make it easier to get work done. While these systems can help equip team members with the tools and insights they need to succeed, they may not be enough on their own to efficiently run a services business.
Success requires greater efficiency and the ability to coordinate resources and projects in ways that reduce downtime and make the most of each team member’s unique strengths. This is only possible when each team member is empowered to do what they do best.
A system of record, or source system of record, is a data management term for an information storage system that is the authoritative data source for a given data element or piece of information. An Operational System of Record (OSR) is a solution focused on bridging core planning, project accounting, analysis, collaboration, and project management systems in a single ecosystem. By connecting these previously disparate solutions, an OSR creates a definitive data source for all operations data. As a result, organizations are able to dramatically improve visibility, predictability, and agility at a lower cost, helping counteract slimming margins and obstacles to success.
How an OSR Helps Services Businesses
By connecting multiple critical business solutions and supporting many different processes, an OSR is uniquely equipped to support multiple team members’ needs, including:
An Operational System of Record provides real-time information on resource availability and skills for effective project and task level resource scheduling. Resource Managers have access to deep insights into all levels of resources regarding availability, project forecasting, and employee scheduling. Detailed plans built with data provided by an OSR improve utilization that improves projects, collaboration, profits, and more critical aspects of running a business.
Enable project managers to build detailed plans and define projects with a series of granular tasks and the visibility needed to quickly address issues in real-time. When an OSR integrates project planning, execution, and project financials for real-time data, project managers have access to a true ecosystem of management that improves on time and on budget project delivery with improved margins.
An Operational System of Record bridges project communication and task management with contextualized collaboration. These elements drive greater connection and communication between departments, management, and clients, no matter the distance. The result is that contributors are better equipped to stay on top of their tasks and collaborate with each other far more efficiently.
An OSR can provide executives with detailed analytics and forecasting through robust integrations between project management, back-end financial systems, and other key business solutions. Executives can then take these dependable insights that span the company to make informed, strategic decisions that positively impact teams, departments, or the entire organization.
An OSR’s Impact on Your Business
The actionable insights created by an Operational System of Record provide support for each team member’s specific needs, creating far more effective business processes and a company ready to succeed in the increasingly competitive landscape of today’s services industry.
Support Your Business with an Operational System of Record
Interested in learning more about how an Operational System of Record can help your business thrive?