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5 Ways to Improve Efficiency in Professional Services Firm
We are all finding that the professional services industry has become more competitive than ever. So how well are you competing for new business and retaining existing clients?
It’s not that difficult with the proper PSA platform and remembering that your people are your most valuable asset.
Integrating your business (and everyone in it) with a single, accessible platform will give management actionable insight into the business health and profitability. At the same time it will free teams from administrative burdens so they can deliver more value to their clients – and we all know efficiency in professional services is key.
Here are five ways to improve your professional services firm’s efficiency:
1. Break down barriers
- See the complete view and make better decisions.
- Eliminate information silos to see what’s coming and act decisively and effectively.
The result? Create a clear, more engaging environment.
2. Remove the admin burden
- Eliminate reporting and waiting on reports.
- Reduce throughput times.
- See everything needed in one place, lessen the strain on employees for admin activity and data accuracy.
The result? You’ll see an 8.4 percent improvement in on-budget projects with professional services automation (PSA).
3. Eliminate meetings (and other unnecessary things)
- Become more agile.
- Collaborate and engage across teams and departments, and with clients.
- Never miss a thing.
- Have better handoffs, with better insights.
- Engage employees, make better decisions, and take faster action.
The result? Less hassle, more focus.
4. Connect sales and delivery
- Meet customer expectations without over delivering.
- Create realistic and competitive proposals.
- Increase win rates and margins.
- Validate SOWs with delivery.
- Become better at forecasting.
- Predict margins effectively.
The result? With PSA, you can gain a 9 percent increase in projects delivered on-time.
5. Be empowered to make decisions
- Achieve higher client satisfaction.
- Share access to all relevant info so teams can make good and informed decisions.
- Provide a single source of engagement for all service professionals, giving instant insight and access to all data, documentation, and decisions required to drive the desired outcomes for clients.
The result? You’ll get insights to accelerate and grow as you go.
Want to learn more about how you can make your PSO run more smoothly? Get in touch with our team. We’ll help you drive the outcomes you need to grow your business: better margins, lower overheads, higher utilization and more revenue.
