Did you know that the professional services automation (PSA) market is poised to grow from $716.5 million in 2017 to north of $1.244 billion by this year?
According to MarketsAndMarkets, that works out to a compound annual growth rate of 11.7% over the forecast period. So, more and more businesses are taking advantage of this type of software that is designed to help professionals with resource management and project management so that they can better complete projects for customers.
Is your company using it? Here’s a look at three benefits of using PSA software.
1. It’ll Be Easier to Work With Clients Overseas
The internet makes working with clients in different countries and time zones easier. If you have customers based in other countries, you’ll want the right PSA solution. The right tool for your business will have features that allow you to bill in different currencies, factor in different tax requirements, and use various languages.
Without the right software solution, working with people across the country or in other nations who speak foreign languages will be more difficult. You can provide customers with reports in the languages they’re most comfortable and familiar with.
Expanding internationally means new revenue potential, more foreign investment opportunities, and greater talent access. PSA software can make doing so a more seamless process.
2. Real-Time Reporting
A real-time reporting is about automatically updating data so that reports display the most current information available. It merges historical data with real-time data to help businesses identify emerging trends. What this can do is help with decision-making.
Using a PSA application will provide access to real-time information. If you’re going to make informed decisions in a business environment that won’t wait, you’ll need timely access to reliable information. Making the right decisions is problematic if the data you need isn’t readily available or isn’t accurate. It’s impossible to expect anyone to make informed decisions when the right data is lacking. That’s where PSA comes into play.
You’ll have access to analytics and reporting when you obtain the right PSA solution. And it’ll be available in real-time. You’ll be able to generate the types of reports you need based on what your business or customers need to know. Decision makers at your company won’t have to play guessing games. PSA allows for real-time reporting.
3. Better Customer Service
Customer service is a must. But things can get out of hand if your company isn’t following proper processes and procedures. You need to know what is happening, when things are done, and who is involved. If a client has an issue, you’ll be able to follow the audit trail, find out what occurred and which worker was involved, and remedy the issue.
Seeing how things are done at your company can help highlight when things are done well. You can use the results to arrange for employee training going forward. In addition to highlighting when things go right, it can also help to highlight when things go wrong. If a client is dissatisfied with the services rendered, you can comb through your PSA software to dig into the details. There won’t be any guesswork involved.
Your company can learn from the data. Offering great customer service is a must. It’s not something your company can take lightly. In this digital age when people can transact with companies worldwide, your business needs to go all out for customers.
Get the Right PSA Solution
If your business doesn’t use a professional services automation platform, you’ll want to consider the benefits you’re missing out on. It’s a mistake to assume that one PSA tool is as good as another. So, ensure you do your homework to find the right one for your business. But once you’ve found the right tool, you’ll wonder how you did without one. Getting the right PSA software will give your company a competitive advantage.
