The Value of Implementing an ERP for Professional Service Organizations
Leaders in the Professional Services industry can benefit from a modern cloud-based ERP system that enables them to provide a better service delivery methodology with employees that are prepared to provide customer support — transferring both timely response and expert quality.
To make significant impact in this ever-changing industry, it’s essential that organizations have a solid handle on project management, contract management, and accounting processes. Companies are able to create more efficient processes when they combine the management and oversight of multiple processes into one system. Implementation of a streamlined solution can ease daily tasks, while improving the ability of the entire work team. In the end, this means more efficient work.
By modernizing a company’s operational infrastructure, professional service firms are capable of breaking away from disparate practices and bringing together wide-ranging functionality into one fully integrated tool — imagine the advantage having both back-end and front-end processes accessible when working to innovate client projects.
An ERP system enables the business to view data and insights across the entirety of the organization in one simple solution. Leadership will have dashboards that display the information needed to make decisions quickly and accurately.
Because the cloud-based system is updated regularly, there are no lapses that could provide the team with conflicting data. Real-time reporting keeps everyone on the same page — a perk that can eliminate issues and keep all employees “in the know” at every juncture. Drill down architecture enables employees to reach whatever details they are needing to transform their work function.
Accounting is integrated into the organization’s various departments; this means that finance can see where sales and marketing are focused and those working in these areas are able to attribute gain and loss to the area’s efforts.
Acumatica, an award-winning cloud-based ERP solution, tracks integrated performance with its ERP Solution for Professional Services Lead, including:
- Sales and purchase order management
- Service and support automation
- Project cost tracking
- Time and expense
- Material requirements
The more a company knows about its customer base, the better the employees can serve the clients’ needs. Likewise, the happier a customer is, the more loyal they will become. With this in mind, it’s essential that leaders engage state-of-the-art business software that can help them maintain a competitive advantage.
First is understanding who key clients are, and next is learning how to better capitalize on these money-making accounts. By studying purchases and needs, a company can better determine opportunities to retain, extend, and even up-sell whenever possible. An ERP system reveals shifts, whether negative or positive, which enables leadership to make decisions that can grow the company’s relationships — and, thus, its bottom line.
Real-time views provide not only leadership with understanding of where processes are successful or lacking, but also employees working at client locations. With access to Internet or Wifi and a smartphone, tablet or laptop, service technicians or consultants can provide up-to-the-minute insights to customers. This adds value to those who have face-to-face relationships with clients, enabling them to provide the best possible service — and become the company’s personal and accessible expert — and close deals quickly.
Professional Services firms need to quote accurately and make sure they are able to come in at the projected amount. Employees who are working within a cloud-based ERP solution have the best chance of providing the best possible service.
An ERP solution enables consultants with detailed information around resource allocation, project budgets, and delivery dates. Tracking project actuals can assist in avoiding costly overruns, which can be a black eye for those responsible for project management.
With a system that provides insights and detailed project-based reporting, a team can fully understand a client’s profitability —both in past and current runs, as well as what the forecast is for future performance.
Professional Services employees know that the work they do today will reap rewards for future business. The best a company can do for its staff is arm it with the most advanced technology, which in turn enables their best and brightest to deliver results that exceed expectations and make working easier.
Learn more in The Importance of Project Cost Management.
The Cloud Advantage
Implementing a cloud-based ERP solution is one of the best ways a business leader can prepare a Professional Services organization for the future. Modern technology can help a company to lead successful projects through even the most challenging timelines, on budget.
The first step is partnering to improve business capabilities and efficiencies, both of which are imperative to growth. At CCS Technology Group, we understand cloud expertise and how it can benefit Professional Services organizations. Interested in learning more? Read our testimonials and contact us to get started today!
Additional ERP Resources
Qualities to Look for in a Cloud ERP
How to Improve Efficiency with a New ERP Solution