Operational System of Record, Professional Services Automation

Why It’s Time for Your Business to Go Beyond PSA


Professional Services Automation (PSA) solutions support services organizations and help teams tackle time-consuming tasks with automation, making project management more efficient and accurate. However, in today’s service-level economy, businesses need to go beyond traditional PSAs and leverage the data and insights that a modern solution can provide in order to compete and thrive.

Here are four ways that companies can move past a traditional PSA and utilize an Operational System of Record (OSR) to reach the next level in their business processes.

1. Collaborate in Context

In order to stay successful, teams need to be brought closer together to deliver work in a highly collaborative, efficient, disciplined manner. By combining Collaborative Work Management (CWM) apps and a PSA within an Operational System of Record, which consolidates project, financial, and resource management solutions on a single platform, businesses can achieve a unique collaborative approach.

But collaboration doesn’t just mean connecting full-time in-house employees. Modern collaboration facilitates work across business and geographic boundaries, bringing in remote employees, subcontractors, and clients with ease. By providing team members with intuitive user experiences that can be customized to their unique roles and daily demands, workforce members can be enticed to adopt the chosen PSA solution instead of sticking to the old ways of doing work. With communication channels and project management systems brought together, team members can collaborate in context with data insights and tasks at their fingertips to support one another.

2. Create Robust Project Management

Project management is an element of many PSAs, but this functionality is often weak and incomplete. As a result, project managers still to turn to spreadsheets and third-party project management applications to manage their projects, tasks, teams, and more.

By going beyond traditional PSA and using a system where the data created by project management, resource management, project accounting, and reporting all coexist and are integrated, users can have a complete view of project status and performance at any time. In addition, tightly coupling accounting with every element of the project helps leaders track financial progress against budget and margin targets down to the task level.

3. Enable Full-Cycle Resource Management

Traditional Professional Services Automation solutions support users in the completion of everyday, individual tasks in service of larger project success. But by going beyond a traditional PSA and embracing an Operational System of Record, resource managers have the ability to maximize utilization, strengthen planning, and achieve delivery success throughout the entire project lifecycle.

From capacity planning and estimating to project planning, delivery, and optimization, an OSR addresses the most pressing needs of managers at every stage. PSAs can often support project planning, but lack effective support for demand and capacity planning, as well as the ability to provide the visibility and collaboration necessary to address unplanned changes in resource needs at the speed the business requires. When active projects are managed within other applications, these management capabilities become even weaker in a traditional PSA.

4. Built In Business Intelligence

Managing a professional services organization with precision and agility starts with having all important operational information in one location. Achieving this depends on leveraging an operational platform that comprehensively collects all relevant data points throughout the planning and delivery lifecycle, and displays up-to-date views of the information required to make data-driven business decisions.

Collecting these critical data elements in an OSR and consolidating teams on a single platform means that there is no waiting for timesheet updates and data loads from other systems. Unlike PSAs that often provide limited reporting toolkits or only an integration option with a third-party Business Intelligence (BI) solution, having out-of-the-box BI reports can provide fast, critical insights. This data can support hiring decisions, forecast revenue, drive desired profit margins, track project health, optimize business processes, and more. Built-in BI capabilities provide newfound visibility and control over business processes and save massive amounts of time previously spent crunching numbers.

By moving past traditional PSA solutions and embracing an Operational System of Record, your services organization can achieve new levels of success in an ever-changing industry.

Learn More at TSW San Diego

Want to learn more about how you can go beyond traditional PSA? Mavenlink will be at TSW 2019 San Diego from May 6-8 - Tuesday May 7 at 3:10 PM.