Ensure your projects run smoothly
For professional services organisations, the conflicting challenges of providing effective project management, utilising resources and ensuring highly skilled and highly valuable professionals are retained can impact margins and business performance.
At Advanced, we offer a suite of HR, Finance, Payroll and Timekeeping solutions to help free you to focus on what really matters: having the right people in the right place at the right time to ensure projects run smoothly and to optimise revenue recognition.
Right people, right place, right time
of PS firms say cloud software is their spending priority for the next 12 months
of professional services teams believe tech will play a major role in global economic recovery
of professional services businesses believe covid-19 has accelerated the shift to a digital-first mindset for their organisation
of PS firms believe covid-19 has shown their workforce needs greater flexibility
of PS firms believe covid-19 has shown their workforce needs more agile ways of working
of PS firms have seen limitations in their current technology as a result of the changes brought on by the covid-19 pandemic
The world has changed, have you? The way professional services organisations run projects has shifted hugely due to the impact of the Covid-19 pandemic. Do you have the tools you need to continue to adapt and be agile?
Drive project profitability
Now more than ever, recognising revenue against projects and your people is critical to your future success and planning. Predicting cash flow is essential for stable growth.
Look after your people
Paperwork and admin needs to be reduced to make life easier. Your people are your most valuable asset. Making sure your highly skilled professionals are retained is key to the success of your business.
Reduce admin headaches
Allow your people to thrive by taking away the burden of chasing contracts, suppliers and customers. Make the complex simple for all of your teams by giving them the tools they need to focus on projects.
- What are the top priorities for professional services firms in 2021?
Professional services firms will need to ensure they remain agile and adaptable to change to keep up with shifting market dynamics. Staying as close as possible to clients, even while continuing to work remotely will be critical to remaining successful. In order to do this, investment in technology that enhances these relationships and ensures their effectiveness is key. Our recent blog with leading sector journalist Kevin Reed explores this in further depth here.
- What technology does a professional services firm need?
Organisations will require a range of core back-office solutions to ensure the smooth running of their business. At a minimum, a successful professional services firm will need financial management and accounting software, HR management software, employee engagement solutions, CRM software and time recording solutions. In addition to this, to run successful projects professional services organisations will also require professional services automation (PSA) to help them allocate consultants and track progress with clients.
- How do professional services firms make sure their projects are profitable?
There are five key pillars to ensuring project profitability for professional services firms:
- Ensure automation is in place
- Give your employees the tools they need
- Dashboards and reporting
- Timely and accurate billing
- Get a clear view of your cash flow
Find out more in our recent blog with leading sector journalist Kevin Reed
- How do professional services firms ensure they’re utilising their people in the right way?
Using PSA software will ensure that professional services firms are not over or under-utilising team members. PSA automates allocation of employees to different projects, taking away the complex nature of scheduling and planning for professional services firms.
- How can professional services firms get a clear view of cash flow?
Having the right software in place which enables finance teams to get a clear view of cash flow is critical, but not possible if professional services firms are relying on old technology. Firms need to ensure they are using a Cloud-based finance and accounting solution which not only has robust reporting capabilities but also in-built cash flow capabilities.
- How can professional services firms ensure they retain valuable members of staff?
Employees will only want to stay when they feel valued, rewarded and motivated. In order to do this, frequent communication with staff is critical. One way of achieving this is by adopting employee engagement software, which will enhance your touch points with your team members.
- How can professional services firms maximise time against resource?
Making sure you allocate the right employees to projects, and that projects are monitored effectively, is critical to ensure time is maximised in the right way. Most professional services firms do this by implementing PSA software as well as having a connected back-office suite of solutions comprising of CRM, HR software, performance management and finance and accounting software.
Explore our full range of Professional Services Software
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We’ve partnered with leading finance journalist, Kevin Reed, on this piece examining the digitalisation of the finance department and what the future holds.Read whitepaperWhitepaper
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