What is the Best PSA Software and why?
You could be a business leader at a professional services organization with ambitions to grow it to the next level. You realize that ‘growth’ must be well-managed and not ad hoc — and intend to deploy a professional services automation/IT PSA software.
The general tendency is to look for “best IT PSA software!”
Where? — Google, the so-called digital encyclopaedia😊. By the way, you must not be overwhelmed by the results ☹.
Is there the best IT PSA software?
Before answering the above question, let us understand the nature of the professional services business.
Engineering services, strategy & management consulting, software services, accounting services, process management, etc., come under the broad umbrella of professional services.
Professional services operate in a broad spectrum:
· They follow industry/service-specific life cycles.
· They adopt project-specific approaches — either predictive, agile, hybrid, etc.
· They may conduct business globally and locally.
· They undertake projects that vary in size, value, and complexity.
· They operate at different levels of process and resource maturity.
· They may use enterprise applications such as ERPs, CRMs, Engineering, Accounting, etc.
Before analysing the best professional services automation software, we must outline the capabilities that one could expect in most online PSA software (‘online’ is a hygiene factor).
· Leads, opportunities, estimates, proposals, and contracts.
· Project management — initiation, planning, execution, monitoring & reporting, and closure.
· Requirements — documentation, prioritization, and traceability.
· Resources — availability, estimation, assignment, utilization, and tracking actual effort.
· Financials — estimating, budgeting, tracking actuals, invoicing, and cash flow.
· Project documentation — across the project life cycle.
· Risks and issues — identification, assessment, action plans, and ownership.
· Project meetings — agenda, meeting minutes, action items, and tracking.
Most off-the-shelf PSA software vendors claim to offer all the capabilities needed by professional services organizations!
Really!?
It must be reiterated that we are discussing project management software for professional services businesses — and not generic software such as Microsoft Excel, Word, etc.
Senior business and technology leaders must meticulously examine two aspects of any PSA software that claims to be the best.
1. Configurability of the PSA software
By ‘configuration,’ we review the software implementation as per the unique needs of — product/service, organizational standards, business processes, workflows, templates, checklists, etc.
When a technology company invests in PSA software for IT industry, it must mirror the IT service business, and similarly, when implemented for engineering services, management consulting, etc.
The ability to ‘configure’ is more advanced than just ‘features & functions’ that operate the same way irrespective of the organization or the project type.
Important: configuration comes at “no extra cost.”
2. Customization needed for the PSA software.
By ‘customization,’ we review the additional ‘design and development’ needed to the software — based on organizational unique needs. Unfortunately, most PSA software must be ‘customized’ to organizational needs or risk being used in an ‘as-is’ manner — increasing the probability of poor user adoption.
Every time the PSA software needs an upgrade, the ‘customized elements’ must also be upgraded — these come at an extra effort and cost along with a cumbersome ‘maintenance.’
Important: customization comes at “an extra cost” — and could be recurring over its life.
Let us quickly summarize.
1. Professional services businesses are unique — by the nature of services, organizational standards, project management approaches, and business processes.
2. PSA software must include the essential capabilities that address the complete professional services businesses.
3. PSA software must be easily configurable with limited needs for customization.
In the above context, business leaders and decision-makers must not be misled by PSA software vendors when they claim their PSA software solution as “the best!”
There is no such thing as the best PSA software!
It is high time we shift our conversation to:
“To what extent could your PSA software be configured for my business and organization — and deliver a high Value-to-Cost Ratio.”
TouchBase PSA Solution is comprehensively designed for the professional services industry and further refined to your organizational needs, standards, business processes, and workflows with the sole objective to deliver a superior Value-to-Cost Ratio!
