Professional Services Automation (PSA) software is a set of tools designed to help companies organize and streamline processes for the business to focus more on people, tasks, projects and even client management. It also involves creating, managing and terminating a set of process in the business. The software is often used by small business owners, consultants, project managers and any type of service-oriented business in the market.
When it comes to history, modern developments of the software can be traced back to the 80s and 90s but PSA solutions were typically designed to be incorporated with a financial software package. The rise of the internet, along with other online developments led to access of radical business ideas in the mid 90s as well. The internet has brought about the technology wherein it can allow people to browse, track and purchase products and services instantly. This resulted in companies wanting to improve their services, be more efficient, productive and client-oriented for the clients to patronize them continuously. Moreover, the internet is considered a major milestone that allowed so many software packages to have its connectivity function to people all over the world.
Integration between financial accounting software and PSA is also an essential capability. Even with integration is already in the system, most project managers and executives are still focused on gathering and inputting data into the software. In the earlier days of PSA, solutions are being integrated little by little, together with financial and office automation software. As the years pass by, in order to manage and keep up with the demands of the business, more and more applications were integrated that involve two or more solutions built on different platforms with different models.
As a business owner, you will also have to understand why you will need automation incorporated in your organization. These are the following problems that automation solves:
- Avoiding repetitive tasks by your employees
- Invoicing, billing and tracking management
- Project Management
- Accounting Management
- Resources Management
- Expense and Time Tracking
Once you find out that you need to solve any one of the problems mentioned, you might consider automation in your business. PSA softwares usually advertise also similar capabilities like accounting, project collaboration, effective communication systems, etc. but they do vary on the depth of the capabilities of each one.
To know which PSA system is the right solution for your business or your team, you will need to identify your goals, objectives and needs. Next step is to prioritize your requirements as you may likely need to make trade offs on different applications that offer different capabilities. Always keep in mind what you need solutions to first, since this will have a huge impact on the success of your software implementation later on.
Since technology and automation software is constantly evolving, it’s best to expect that businesses will continue to face bigger challenges and increased demand for products and services to be able to cater to the needs of the market.