Professional Services Keep Innovating

Professional services are some of the oldest professions in the world, so technological innovation has had a direct impact on productivity in this sector of the economy. Today, we’ll take a look at a couple of technologies that are built for the professional services industry and how they help PS firms enhance their productivity.

Professional Services Technology

There are certain technologies that are created specifically for professional services companies. In professional services, there’s that extra responsibility to be the authority the client expects. As a result, today’s professional services firms are really looking to use cutting-edge technology to create satisfactory customer experiences. Like any other business, professional services firms need reliable hardware, software tools that promote productivity, and the security solutions needed to protect their network and data. 

Here are two technologies that help drive efficient professional services:

PSA

Professional Services Automation (PSA) is a software designed to manage the professional services business from end to end. It allows for comprehensive service management as well as options to manage resources, store information, and manage projects. It provides a great deal of automation options that both enhance your business’ ability to do business and manage the relationships that make the service offering possible. 

Most businesses use some type of CRM (Customer Relationship Management). This software basically comes with a calendar, a time management system, analytic tools, and more. The PSA is designed specifically for tracking time and managing tasks within a project setting. This means that each client has a profile within the PSA and each service that is carried out is tracked through a task system. This provides an easy-to-use interface to manage all of a business’ day-to-day operations. 

Additionally, many of today’s PSAs provide access through a web client or browser so it can be accessed remotely from anywhere. This accessibility also provides for the means to integrate some other tools, such as payroll software, CRM platforms, or even a marketplace, allowing businesses to centralize their operations, be able to sufficiently track billable time, and invoice clients faster. The PSA can also provide the knowledge base decision-makers need to make educated and informed decisions about their business in the future.

Document Management

When you think of an office worker, you may think about a person that sits behind a desk and types and frequently takes phone calls to go retrieve a file from a file cabinet somewhere in the office. Once the model, this version of the office can only be viewed today as inefficient and costly. Businesses, even professional services businesses, need to do more with less.  Document management is an opportunity to streamline the management of all of your business’ crucial information. 

In professional services, the ability to get the information you need at the moment you need it can be completely indispensable. A document management system (DMS) presents an opportunity to do just that as every document your business needs to save, every receipt, even the all-important lunch menus, can be scanned and saved in an easy-to-organize digital management system. Privacy is built-in as many DMS options allow administrators to secure documents down to the file folder.  

While often resource-intensive to set up, the DMS provides complete and secure access to all of your business’ stored information from nearly any device, anywhere you have access to the Internet. For professionals, information is a key component of doing business, so having remote access to all your information can both speed up business and reduce costs.

By having software that reacts to positive outcomes, the overhead of any business will be reduced. It will also allow professional services companies to cut out a lot of the intermediaries that may act to hurt their business. Having smart software powering the modern professional services company will only help for quicker and more effective resolutions and much lower costs. 

The professional services industry is competitive. The use of technology to make your firm, practice, or company more efficient will in turn make it more client-friendly, approachable, and profitable. For more information about how we use technology to run our professional service, call us today at (02) 8825-5555.