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Choosing professional services automation (PSA) software is like shopping for a car. You want a model that fits your needs and budget, but you don't want to sacrifice features. It wouldn't make sense for a family of six to buy a two-seater sports car, right?
The same goes for PSA software. You must understand your organization’s needs and evaluate the features and functionalities of each product to make the right selection.
Here are our tips for choosing the best PSA software for your business.
What is professional service automation software?
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PSA software is a full-suite, cloud-based solution that helps professional services firms manage their entire project life cycle from one centralized platform. It is the central hub for customer data, project management, resource scheduling, and financials. Think of it as a one-stop shop or a single source of truth for all your business processes.
PSA tools help service-based businesses like managed service providers (MSPs), IT consulting firms, and digital marketing businesses streamline operations and improve efficiency.
By automating mundane administrative tasks, eliminating manual data entry, and providing real-time visibility into project performance, teams can pivot their focus to higher-value activities. This frees up more time and manpower for customer service, strategic planning, and product innovation.
Typical features and functionalities found in PSA software include:
Project management
Resource management
Time tracking and expense management
Billing and invoicing
Reporting and analytics
Task management
Contract and customer relationship management (CRM)
The features and functionalities you need will largely depend on the type of services you offer and the size of your organization. For instance, a small web design business might need just basic project management and CRM tools.
However, enterprise-level marketing businesses or IT services firms would benefit from a more robust solution with features like resource utilization rates, expense tracking, and third-party integrations.
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Benefits of using PSA software
Professional services organizations that use PSA software are better positioned to manage projects, maximize profitability, and drive customer satisfaction. So it's no surprise the global PSA software market is projected to hit$23.3 billion by 2030, up from $11.2 billion in 2022.
PSA software can help your business in several ways, including:
Easier collaboration
PSA software significantly improves collaboration among team members, clients, and stakeholders by providing a centralized platform for real-time communication, project updates, and file sharing. Real-time updates and notifications ensure everyone is on the same page, in the loop, and working towards a common goal to prevent project failure.
You can view timesheets, track progress, monitor project milestones, and access reports from any location. This helps maintain transparency and accountability across the entire organization for timely project delivery.
Improved productivity
Logging in to work daily, manually tracking project progress, allocating resources, and compiling invoices is time-consuming, tedious, and cumbersome. You waste valuable time and resources that could be better spent on higher-value activities.
PSA software automates repetitive administrative tasks, taking the burden off your staff and allowing them to focus on more critical tasks that require their attention. It also optimizes resource allocation and reduces redundancies across teams.
Robust PSA software solutions, like Teamwork, also offer seamless integrations with other helpful productivity tools like Slack, Zapier, and Microsoft Teams. This creates an end-to-end workflow that helps teams get more done in less time.
More accurate time and resource management
Accurate time tracking is critical for billing purposes and resource allocation. You need to know which tasks are completed, who's working on what, and how much time is spent on each task or project. PSA systems provide real-time visibility into project progress, allowing you to accurately track billable hours and resources.
This helps your team deliver timely projects, reconcile invoices faster, increase billing accuracy, and allocate resources more efficiently. It also provides valuable insights into team performance, customer preferences, and profitability metrics.
Teamwork.com's resource workload management feature helps you quickly and accurately assign or reassign tasks, manage workloads, and identify bottlenecks.
Streamlined business processes
PSA software centralizes various business processes, creating a unified system that takes the chaos out of project management, ticketing, and invoicing. This eliminates the need for manual data entry, reducing errors like double bookings and missed deadlines.
Automated workflows help ensure that nothing falls through the cracks and that customer requirements are met on time. Your staff can view customer contracts, generate invoices, and manage resources with just a few clicks. Teamwork.com's project management template lets you quickly create tasks, assign roles, and set timelines from one platform.
Better financial insights
Financial health is the lifeline of any organization. You can make smarter decisions about operations, pricing models, and resource allocation when you know exactly how much you're spending on projects and which projects generate the most revenue.
Professional services automation solutions provide detailed reporting and analytics into financial data like profitability trends, customer lifetime value, and average project value. These financial insights help in data-driven decision-making and strategic budget planning. You can also track project costs, forecast income and expenses, and identify areas where you can cut costs.
6 professional services automation software solutions to consider
Whether you're a startup or an established business, there's a PSA software solution that can help streamline your operations and maximize returns.
The right tool varies from one organization to another, so it's important to consider the size of your business, budget, and specific needs. Let’s look at six great PSA software solutions to get you started:
1. Teamwork.com
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Teamwork.com is an all-in-one client operations platform custom-built to include best-in-class project management, resource management, project delivery, and financial management in an easy-to-use, intuitive interface.
The platform's robust time-tracking capabilities allow your team to accurately track billable hours and resources to ensure accurate invoicing, while the client collaboration capabilities offer a centralized platform for real-time communication, project updates, and file sharing.
Essential features and pricing
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Time tracking: Track billable hours, resources, and progress in real time. Create timesheets, send time reminders, and get a bird's eye view of the entire project.
Resource and workload management: Quickly assign or reassign tasks, manage workloads, and identify bottlenecks across teams.
Project management: Create tasks, assign roles, set deadlines, and track progress on multiple projects from a unified platform.
Task Management: Create and assign tasks, set deadlines, view project progress in the dashboard, and deliver projects on time.
Retainer management: Manage invoices and payments, predict future costs, and maximize returns on retainer agreements.
Teamwork.com offers a Free Forever plan for up to five users, with paid plans starting at $9.99/user/month for the Deliver plan, $19.99/user/month for the Grow plan, and custom pricing for the Scale plan.
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2. Accelo
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Accelo is a cloud-based PSA software solution that helps professional services organizations streamline their operations. With sophisticated tools for project planning and execution, resource management, and billing and invoicing, Accelo provides an end-to-end solution for the entire client life cycle.
Essential features and pricing
Project and financial reporting: Track project costs, forecast income and expenses, and identify areas for cost-saving.
Quotes/ estimates: Generate quotes and estimates for potential projects quickly and accurately based on past projects.
Time tracking: Record time entries against projects, tasks, and expenses to ensure accurate invoicing.
Resource management: Assign tasks, reassign roles and allocations, and track workloads in real time.
Accelo’s pricing starts at $24/user/month for the Plus plan, with their most expensive plan, Bundle, costing $89/user/month.
3. Atera
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Designed for IT service providers and MSPs, Atera is a comprehensive PSA solution that automates manual tasks and streamlines operations. It helps service providers gain access, visibility, and control over their service deliverables, client relationships, and financial performance. You can quickly assess customer needs, create tickets, assign tasks to team members, and resolve issues from one unified platform.
Essential features and pricing
Remote monitoring & management: Automatically detect and patch security threats, resolve issues, and respond to service requests remotely.
Reporting & analytics: Generate detailed reports into financial data like profitability trends, customer lifetime value, and average project values.
Help desk and ticketing: Create tickets, assign tasks, prioritize requests, and close tickets with just a few clicks.
Customer portal: Provide customers with a centralized platform to view service tickets, submit requests, and view progress.
Atera’s pricing starts at $99/month/technician for the Pro plan, with the Superpower plan requiring custom pricing.
4. BigTime
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BigTime helps MSPs take the guesswork out of resource utilization, project planning, and financial management. Its intuitive user interface and robust features enable users to track billable hours, manage resources, organize projects, and generate accurate invoices in a few clicks. It also helps reduce administrative burden by automating manual tasks like time tracking and billing.
Essential features and pricing
Time tracking & expense management: Record billable hours, track expenses, and generate invoices quickly.
Project management: Set tasks, assign roles, and track project progress across teams.
Reporting & Analytics: Generate real-time reports on financial performance, customer lifetime value, and profitability trends for data-driven decision-making.
Resource allocation: Eliminate over- or under-allocation of resources to maximize utilization and profits.
BigTime’s pricing plans include Essentials at $20/user/month, Advanced at $35/user/month, Premier at $45/user/month, and Projector at $60/user/month.
5. Wrike
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Wrike is an enterprise-level PSA software solution designed to help MSPs manage complex project portfolios. It offers an intuitive user interface, robust enterprise features, and automated workflows to help teams collaborate on tasks, set deadlines, track progress, and deliver projects on time for maximum profitability.
Essential features and pricing
Task management: Create and assign tasks, set deadlines, track progress in real time, and collaborate on projects with a few clicks.
Project management: Develop project plans, assign roles, break down tasks into smaller subtasks, and track progress against deadlines.
Budget & expense management: Set budgets, monitor costs, forecast expenses, and track project profitability easily.
Workflow automation: Automate mundane tasks like project planning, invoicing, and resource management for improved efficiency and productivity.
Wrike’s pricing plans start at $9.80/user/month for the Professional plan, but they also offer a Free plan for up to five users.
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6. Forecast
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Forecast is an artificial intelligence-powered PSA software solution designed to help MSPs effectively plan and execute projects, manage resources, and automate repetitive administrative tasks such as scheduling, time tracking, and invoicing.
With Forecast, MSPs can leverage machine learning capabilities to get accurate estimations, ensuring projects are completed efficiently and within budget.
Essential features and pricing
Resource management: Assign tasks, adjust resources, and monitor workloads in real time for maximum utilization.
Time tracking & budgeting: Track time entries against projects/tasks/expenses to ensure accurate invoicing and easily manage project budgets.
AI forecasting: Leverage the power of AI to get accurate predictions and estimations for future projects and tasks.
Automation: Boost efficiency and reduce manual labor by automating mundane administrative tasks.
Forecast offers two pricing plans, Pro and Plus, which both have custom pricing.
Tips for choosing the best professional services automation software
There is no one-size-fits-all solution when it comes to selecting the right PSA software. Different professional services businesses have varying needs and requirements, so it's essential to look for the features and functionalities that meet your specific objectives.
Here are some tips to help you choose the right PSA software.
Identify gaps in workflows
Start by assessing your current workflows and pinpointing any areas of inefficiency. Consider the pain points in your operations that are holding you back from delivering projects on time, billing accurately, or communicating effectively with your team or clients.
Once you've identified the areas that need improvement, you can align these needs with the capabilities of potential PSA software.
For instance, if your team struggles with tracking time and expenses, you'll want to prioritize a PSA solution with robust time tracking and expense management features. If resource allocation is a stumbling block, you'll want to invest in a solution with strong resource workload management and staffing capabilities.
Collaborate with team members to identify needs
Your team is the heart and soul of your business, so it's crucial to involve them in the decision-making process. After all, they are the ones who will be using the PSA software. Hold a brainstorming session with your team and encourage them to share their insights, preferences, and requirements.
You can also administer surveys, polls, and questionnaires to get feedback from everyone in the business, including stakeholders. Take the time to understand their pain points, daily work processes, and what they wish to do better or faster. This can help you narrow down the list of potential PSA software options and find a solution best suited for your team.
Find a scalable PSA software
As your organization grows, so will your needs and demands. You may onboard new clients, increase project volume, or diversify your services. Your PSA software must be flexible enough to scale with your business and accommodate the changing needs of your team.
Look for scalability, customizability, and robust integration capabilities that allow you to customize the platform according to your goals and requirements. That way, you can scale up or down without sacrificing productivity or customer satisfaction.
Customizable project templates, intuitive dashboards, and automated workflows are some features you should look for in scalable PSA software.
Consider the reporting and analytics capabilities
PSA software reporting and analytics capabilities are critical in our modern, data-driven world. These functionalities let you track key performance indicators (KPIs), analyze trends, and make data-backed decisions.
With robust reporting features, you can measure and monitor project performance, productivity, and profitability in real time. This helps you identify bottlenecks, improve resource allocation, and refine your strategy.
From forecasting financial metrics like revenue and cash flow to analyzing team performance and customer satisfaction, these insights can be invaluable to your long-term success.
Additionally, an analytics tool that visually represents complex data can make it easier to comprehend and act upon. You can generate reports and dashboards in a matter of minutes, gaining valuable insights into the health of your projects.
Take advantage of free trials or demos
Most PSA software vendors offer free trials or demos, and taking advantage of these opportunities can give you a hands-on experience with the platform before committing. For example, Teamwork.com offers aFree Forever pricing plan for up to five users, allowing you to get started with PSA software at no cost.
Use this trial period to test the key features, assess user-friendliness, understand the level of customer support, and see if the software integrates well with your existing systems.
Remember, just because the software has a long list of features doesn't necessarily mean it's the right fit for your business. The best PSA software for you is one that addresses your specific needs and blends seamlessly into your workflows.
Level up your professional services with Teamwork.com
Choosing the right PSA software is critical for your success. Evaluate potential solutions based on features, functionalities, scalability, reporting capabilities, and ease of integration with existing systems. Assess your current workflows, engage your team in decision-making, and take advantage of free trials or demos.
Your PSA software should be efficient and powerful, helping you streamline operations, enhance the customer experience, and make data-driven decisions. While many options on the market are clunky and have major learning curves, Teamwork.com is easy to use.
Our slick, simple interface coupled with powerful project management tools for day-to-day client work make Teamwork.com a dynamic solution for growing businesses.
Sign up today for a free 30-day trial!
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