In Professional Services, Time is Money
As a professional services firm you rely heavily on the ability to track and realize every hour of every day. Project estimates need to be precise because you can’t afford to donate hours. Resource and capacity planning needs to be carefully balanced so that you don’t find yourself short staffed on a project, or worse, with staff sitting idle without assigned tasks. Every hour worked needs to be captured, and your billing needs to be precise and timely. Your margins are affected by your ability to estimate and staff every project, and without a system that can help you track hours and apply them to a project, you run the risk of losing precious billable time.
You need professional services automation (PSA) software that can help you manage every aspect of your day, so you can capture every hour of work.
Detailed Project Management
From estimating hours to scheduling resources, managing projects is a major component of your business. With no product to sell, your intellectual property needs to be delivered with care and demonstrated quality. Your clients expect their projects to stay on track and true to budget. You need to carefully monitor every hour spent and ensure you’re not exceeding timelines. You need to manage change orders, keep the client abreast of project status and, above all, keep a tight grip on costs and resource allocation.
You need a PSA software solution that can help automate project management, create alerts and give you the control you need to make adjustments as required.
Resource Management and Allocation
You have a talented team of professionals on staff that can contribute to an array of project requirements. The trick is to know who is right for every task, and to ensure you’re effectively distributing the workload so no one is way over or way underutilized. You need to know who is on task, who is idle and who is coming available next, so you can not only plan your projects on a general level, but also your resources, more specifically. You need to manage in-house and field workers, contractors and specialty staff, understand everyone’s bill and charge rates, and determine who can work together the most effectively to get the job done. You also need to communicate with everyone on the project, ensuring they can access the project data they need, are made aware of percent to completion and are notified of overage hours. Manually trying to manage these moving parts is no simple task, and no amount of spreadsheets and emails is going to effectively keep track of it all.
You need a professional services automation solution that can help you effectively track and manage resources so you can best plan your projects.
Remaining competitive means exceeding the expectations of every client so you gain repeat business and good referrals; you need to create loyalty. In order to build mutually beneficial business relationships, you need to provide clients with excellent service, projects that are delivered on time and on budget, and a good line of communication through every phase. Estimates need to be detailed and complete; billing needs to be accurate and timely, and change orders or delays must be effectively processed and disclosed to eliminate surprises. Your clients demand to know every aspect of their project and you must be able to quickly provide them with the answer to any of their questions.
You need a PSA software solution that can help you keep track of all your information so you can report to clients at their discretion, and keep everyone on the same page when it comes to changes to and progress on project parameters.
Whitepaper: Driving Growth and Profitability
This whitepaper is an indepth discussion of how Professional Services organizations can achieve success by leveraging integrated practiceDownload "Driving Growth and Profitability"
BDO Can Keep You Focused on Billing
BDO Solutions can provide a PSA software solution that is designed to keep your professionals billing and not wasting time on unnecessary administrative tasks that challenge their utilization.
“ BDO has been instrumental in assisting our First Nation in streamlining our accounting processes and procedures in AR, AP, Bank Services and Payroll. I found the staff to be very knowledgeable and effective at delivering your services and the training that was received was more than excellent. I would recommend BDO to any of our affiliates provincially and nationally. Thanks BDO for a job well done! ”Mary E. King at Beausoleil First Nation —
We can help you:
Automate day-to-day processes for reduced project execution costs, help project managers complete tasks faster without compromising quality and create more accurate time and expense estimates for better project budgeting.
Connect with Staff
Utilize mobile applications and centralized data storage to keep staff up to date on all project information, and timelines and budgets; and allow project managers to report real-time project status to clients and managers.
Reduce costs, streamline operations and enable project lifecycle tracking from initial contact through to invoice so you can operate a more effective business.
Realize More Time:
Estimate more effectively and capture every hour for improved cash flow and a healthier bottom line.
Plan and coordinate necessary resources based on current and anticipated project workload so you can ensure you are fully optimized.
Enable Business Intelligence:
Gain full access to all the information you need to make better decisions, establish KPIs and enable improved reporting functionality to help keep your business on target.
Case Study: The Williamson Group
This case study shows how TWG chose BDO Solutions to implement a new solution due to their extensive experience with project management andDownload "Case Study - The Williamson Group (TWG)"
BDO Solutions offers professional services automation software that can help your professional business improve customer service, better communicate with all stakeholders and empower your staff – whether in-house or in the field – to perform optimally.
Sonia is a CGA with over 20 years of experience, including 14 years as a consultant leading complex process and systems projects. Sonia joined BDO Canada LLP in 2005 and has been able to leverage her diverse background to manage numerous engagements with not-for-profit and government organizations.
Ask Sonia a Question or Call (905) 946-1066