This expedites financial management operations and makes it easier for users to obtain payment. These programs often include support for different payment methods such as checks, credit cards and even cash. Some vendors include automation functionality that instantly submits a request for payment upon completion of a project.

Allocate resources

PSA enables users to visualize the tasks and projects that employees are currently working on so that labor resources can be allocated as needed. For example, if a high priority project comes up and you’re hoping to quickly assign it to someone who isn’t dealing with any high-stakes tasks at the moment, you could use a professional service automation to effectively assign the project.

These systems also allow users to allocate resources such as money and time. If you know the budget of other projects compared to the overall company budget, it can affect the rate that you request for your project’s spending limit. Additionally, employees can leverage historical financial information to predict the prices that their projects will incur and to create realistic budgetary requests.

Look at employee tasks

Users can visualize the current projects that fellow employees or direct reports are working on to more efficiently assign task priorities and to allocate labor resources. This can expedite the process of getting a project started and alleviate communication errors in regards to project details. Many PSA systems enable users to post comments and documents related to specific projects so that others have access to relevant information to help facilitate project workflows.

Manage projects

Project management is one of the underlying core components of professional service automation. There are many different capabilities that vendors offer regarding this function. Here are some of the features you might want to look for in a PSA solution:

• Contract management
• Bidding
• RFIs/Submittals
• Cost management
• Conceptual estimates

Schedule appointments

PSA enables employees to schedule appointments and meetings, both internally and externally. For example, PSA would be a great way for a law firm to set up meetings with clients based on the availability of both parties. It can be difficult to figure out a meeting time that works for everyone, so some programs contain automated scheduling functionality that suggests best-fit appointment times based on everyone’s calendars. Here are some of the scheduling features that PSA systems may include:

• Automated scheduling
• Appointment management
• Calendar management
• Attendance management
• Class scheduling

Track time and expenses

Tracking the amount of time that employees and contractors spend on tasks is essential to pay workers fairly. This is especially necessary for organizations with employees who are paid hourly. Expense reporting functionality can also reduce the amount of time that your employees spend filling out expense reports. Here are some of the tracking features you might consider in a PSA solution:

• Timesheets
• Expense tracking
• Overtime tracking
• Expense approval

How Do I Select a PSA Solution?

Selecting the right PSA system for your company can be an incredibly difficult process. During your search, you’ll need to keep factors such as number of employees, industry and operational needs at top of mind to find the solution that works best for your business. Because the process of discovering the right vendor for your business can be tedious, we at SelectHub have created an easy-to-use requirements template to make your search simpler. Check out our PSA requirements checklist to equip yourself with more information about PSA software options and to make the selection process easier.

Do you need assistance with choosing the right program for your business? Give us a call or send us a message! Our team is ready to provide you with individualized recommendations based on your company’s needs. You can reach us at support@selecthub.com or by calling 855-850-3850.