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Connecting disparate psa solutions

The Core Challenges of Disconnected Technology

Picture the following scenario: You are a fast-growing professional services firm or project-based business with service and product revenues. You’ve got a CRM system that manages the product sales and a PSA system that manages time and expense (and projects), along with an accounting system for billing and financial management. With projected sales and product…
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Resource utilization

Improving Utilization Through a People-first Approach

For professional services firms and project-based businesses, utilization is the key to driving more revenue and improving profitability. Traditionally, firms have employed a top-down approach to improve resource management, starting with strategy, developing a tactical plan, and driving down to the line to execute on it. The problem with this approach is that it can…
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How to improve utilization

Getting a Read on Utilization

In the world of professional service firms and project-based businesses, managing utilization is key to running a profitable business. In an earlier blog post we discussed that “utilization” is really three separate metrics that need to be tracked in order to analyze how to improve utilization: the utilization rate (productive hours/total available work hours), the…
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Metrics to measure utilization

“Utilization” Is Not a Single Metric: The 3 Key Utilization Metrics

As a professional services firm or project-based business, there are two key factors to maximizing revenue – utilization and billing rate. While individual firms have some ability to manage billing rates, it is primarily driven by external factors – market fluctuations, economic issues, labor availability, regulatory changes – driving supply and demand. Utilization, on the…
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Improving utilization for professional services firms

Let’s Talk About Improving Utilization

As a professional services firm or project-based business, you know improving utilization is key to your success. However, the number one challenge to measuring and managing utilization is disconnected, siloed business systems. Reliance on disparate systems and manual processes is an urgent and pervasive problem. Incomplete or even inaccurate data can result in slow and…
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Outgrowing Quickbooks

Project-Driven Firms Can Profit From Cloud Automation

The Theory of Constraints is a business management approach proposed by Dr. George Friedman at the University of Southern California. According to his theory, a business constraint is anything that interferes with the profitability of a company or business endeavor. Project-driven firms can improve profitability by moving beyond the constraints of their basic accounting system.…
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Small business

Was Your Small Business Saturday a Success?

When most people think of Small Business Saturday, they think of it as a day to shop at and support local small business. Some may see it as way to help small businesses compete against larger big-box stores and online retailers. But, according to Guidant Financial, 11% of all small businesses are business services companies.…
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Cloud professional service automation

Cloud Puts Power of Integrated PSA in Reach of Smaller Firms

Cloud technology coupled with subscription software models are making powerful tools easy to integrate and affordably priced. In the professional service industry, small and mid-sized organizations have relied on non-integrated and disparate systems to manage day-to-day activities, including project management, collaboration, and resource planning, among others. These limited business applications like the accounting package QuickBooks…
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