Professional Services Automation Blog

Infographic: 8 Fast Facts about Professional Services Automation

I’m a writer…and a reader. I admire the elegant turn of phrase, the graceful arc of a tale well told, the inescapable logic of an argument well made.

I’m also a visual person. I relish diving head first into a great photograph, letting it lead my eye around like a puppy on a leash. I love the way a simple diagram can express a complex concept with an efficiency not possible with an ocean of prose.

Finally, I’m a quant. I have a firm belief in data. 93% of business executives agree with me that, looked at in the right light and presented in a compelling manner, numbers can tell a great story. (OK, I made that statistic up.)

Professional Services Automation Infographic
We put all of that in a blender along with my role as the product manager for Projector and hit puree. Out popped an infographic that explores the impact that a professional services automation solution can have on your services business…an infographic that we’re rather proud of.

Click on the thumbnail to the right to see a larger version.

Alternatively, if you prefer to consume your infographics in the old fashioned way–on paper–feel free to download our two-page printable version.

Download

Download: 8 Fast Facts about Professional Services Automation [Infographic]

Over the next few blog posts, we’ll take the opportunity to explore each of the “fast facts” and delve into them a little more deeply. We’ll link to each of the more detailed blog posts as we publish them. Use one of the “Connect with us” links to the right if you’d like to know when we do.

So, until then, whether you’re a writer or a reader, a photographer or a designer, a quant or just a person trying to run your services business, I hope there’s something in our infographic that speaks to you. Or educates you. Or informs you. Or at least amuses you.

We’d love to hear what you think. Send us a note. Upload a picture. Compile some stats. We’ll take them all.

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3 Strategies for Selecting the Right Software Vendor—the First Time

We’ve talked with thousands of companies as they are evaluating software solutions and have noticed a few approaches that work well and a few others that have, let’s say, fallen short.

Everyone takes a different approach. Some like to dive in head-first and prototype their business within a tool. Others like to perform a formal needs analysis and go through a traditional RFP or proposal process.

The most successful companies tend to approach their vendor selection with an open mind, a clear understanding of their goals, and a desire to view their software vendors as partners. They focus on tangible business results—improved resource utilization or better on-time delivery—instead of a laundry list of features that they think they need. In this post I’ll take a look at a few strategies companies should consider while looking for a new software solution.

1. Conversations, not checklists

The traditional method of software selection is a very structured process. Organizations formulate their requirements, ask stakeholders for input, compile a list of features, rate them based on importance, and send their list off to vendors as an RFP. This process seems rational, but with all of the complexities of modern business software, it often times results in a less than thorough evaluation. It is focused on the current shortcomings of an application or process that is being replaced instead of the actual business reasons behind the software’s functionality. Continue reading »

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A Tale of Two Conversations: Managing Fixed Price Projects

How to manage fixed price projectsLast week, our head of business development, Barry Franklin, had an interesting conversation with a prospect who was interested in learning more about Projector. That conversation went something like this:

Prospect: Can you forecast revenue accurately in Projector? Because if you can’t, this will probably be a short conversation.
Barry: Yes, no problem.
Prospect: What about for fixed price projects?
Barry: Absolutely.
Prospect: What if the project is already underway?
Barry: That’s not a problem.
Prospect: (Pause) Really?
Barry: Definitely. Let me explain…

A few years ago, I had a slightly different, but related conversation with the CFO at an organization that had just started using Projector. That conversation went something like this:

CFO: We have to be able to perform trial rev recs in bulk at the end of each week. How easy is this to do in Projector?
Me: Can you tell me a little bit about why you need to do this?
CFO: Well, it’s the only way to see where we are on fixed price projects. (Pause) Isn’t it?
Me: Not really. Let me explain…

We talk with all kinds of prospects and work with all kinds of clients. Some are just starting up their professional services firms and may not know the term “Professional Services Automation” (PSA). Others have decades of experience running services firms, understand the complexities of managing long-running fixed price projects, and have been burned by other PSAs or clumsy business processes in the past.

The two people with whom we had these conversations were obviously among the latter category… Continue reading »

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What can Dr. Demming Teach your Professional Service Firm?

Back in the 1950’s, Dr. Edwards Demming was one of the main proponents of the Shewhart Cycle, more commonly known as PDCA. PDCA, which stands for “Plan-Do-Check-Act,” is a four-step management model that strives to promote continuous improvement through constant iteration. It admittedly is not the most cutting-edge or sexy construct in this age of the balanced scorecard or services packaging. Nevertheless, PDCA remains a timeless and effective foundational concept that can help improve best practices in the project delivery process.

Easy to define but challenging to implement, best practices help professional services organizations (PSOs) ramp up new employees, standardize delivery processes, and scale their business more efficiently. Many PSOs struggle to implement best practices in an efficient and flexible manner. Without some type of structure in place, they can quickly become a casualty of business buzzword bingo – all talk and no walk. Services organizations that use Projector’s Professional Services Automation tools are well positioned to address the problem of loosely implemented best practices. In this blog post we will use the PDCA cycle to explore how Projector’s PSA software can help improve the project delivery process. Continue reading »

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Social Media and Professional Services Automation

I am among the Facebook-challenged, an outsider amidst the Twitterati. My G+ is more like an F-, and for Pinterest I can’t muster a shred of interest. In short, my media is perhaps less social than the typical bright-eyed twentysomething fresh out of college.

I was talking with one of those bright-eyed twentysomethings today about his perspectives around social media. I’ll call him Greg Smith for the purposes of this blog post, mostly because that’s his real name. Greg and I talked about how he typically contributed to and drew from the vast pool of random bits of information swirling through the social media landscape. We talked re-tweets and hash tags and follows and likes. Most of all, we talked about how one could possibly make sense of this tremendous fire hose of noise, this onslaught of inane trivia. As sometimes happens, after ricocheting around in my warped brain for some time, this conversation started to coalesce into something that I started to realize that we here at Projector PSA have been doing for over a decade. Continue reading »

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Beyond (Just) Regaining Lost Ground – 2013 Professional Services Benchmark Report

SPI Research2012 certainly presented its fair share of challenges to the worldwide economic and political landscape. Austerity measures and rising unemployment in the Eurozone, slowing growth that may indicate more fundamental underlying problems in China, and uncertainty in the run-up to the presidential elections and fiscal cliff here in the US all could have provided business leaders an excuse to play it safe. Fear could have promoted a wait-and-see attitude and motivated a conservative approach to investment, hiring, and growth.

Despite this uncertainty, 2012 proved to be quite a strong year in the professional services industry—a year which saw services firms on average return to pre-recession performance. Key indicators such as profitability, billable utilization, and billable staff ratios are back to levels enjoyed prior to the 2008 financial collapse. Just as revealing is that last year’s rate of improvement has slowed, suggesting that while PSOs were able to quickly recover ground lost during the recession, they are having a harder time improving beyond those levels.

According to SPI’s 2013 Professional Services Benchmark Report, services firms will face some key challenges in the coming year. Low unemployment of and increasing demand for highly skilled workers will radically change the dynamic and power structure of the employer/employee relationship, described by SPI as the “talent cliff.” Firms will need to figure out how to shift their services portfolios away from more commoditized offerings like staff augmentation towards more specialized (and more profitable) ones like business and management consulting. Finally, organizations will need to continue on the trends they established in 2012 in which they were able to grow significantly through improved efficiency, not just by increased headcount.

One driver of the improvements that PSOs saw in 2012 is investment in systems like commercial Professional Services Automation (PSA) solutions such as Projector. PSAs increase a delivery team’s efficiency by automating the mundane, help firms optimize their portfolios by highlighting the unprofitable, and improve an organization’s utilization by balancing supply and demand of its most valuable resource—its people. Continue reading »

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Is a Professional Services Automation Solution in Your Plans for the Coming Year?

PSA Software PlanningEarly September here in New England always represents a wonderful time of transition. The lazy days of summer yield reluctantly to the crisp crackle of autumn air. Majestic maples and oaks ready themselves for one final ostentatious display before settling in for a long, grey winter. Home gardens burst with the last of the summer’s bounteous harvest. Kids don shiny new backpacks and head back to the world of musty textbooks, swirling chalk dust, and sharpened #2 pencils.

This is also the time of year that professional services executives both here in New England and elsewhere ‘round the world turn their attention to planning for the coming year. It’s a time to start nailing down strategic goals and figuring out what people, processes, and systems need to be set in place to achieve those goals. It’s a time to measure progress to date and to figure out how to improve upon that progress in the coming year. For some, it’s a time to consider upgrading their old professional services automation solution to one that better works for their business. For many, it’s a time to consider implementing a PSA for the first time to support anticipated growth.

Is implementing a professional services automation solution in your plans for the coming year? If not, perhaps it should be. Continue reading »

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Selecting a Professional Services Automation (PSA) Solution: Determining What Really Matters

SPI ResearchThe folks over at Service Performance Insight just published a great white paper called Selecting a Professional Services Automation (PSA) Solution: Determining What Really Matters. We have known Dave Hofferberth and Jeanne Urich, the founders of SPI Research, for years and have always enjoyed their insight and perspective on the professional services market. In fact, it was while he was at Aberdeen Group in 1999 that Dave coined the term “Professional Services Automation,” or PSA, in a report that talked about how to increase the efficiency and profitability in a professional services organization. So, if anyone understands what makes the services market tick and how to improve a service organization’s performance, it’s these guys.

The Benchmark

SPI undertakes a huge effort each year to survey a cross-section of the professional services market. This benchmark survey seeks to understand how each participating organization is performing and some of the processes, systems, and philosophies it uses to succeed in an ever-increasingly competitive market. Because SPI has surveyed over 5,000 organizations over the past 5 years, they are able to also provide us with a valuable glimpse into how the overall market is faring. Continue reading »

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Managing Permissions with User Roles

Projector’s professional services automation (PSA) software is a cloud-based services resource planning system designed to be simple enough for small project teams and robust enough to support global professional services organizations with thousands of users. Because of this, it should come as no surprise that Projector contains tools designed to help organizations continually adapt their use of Projector as their business scales in size and complexity. One of the most powerful techniques that Projector administrators can use to save themselves time is to use clearly defined User Roles.

Each User Role within Projector is intended to capture the permission and configuration settings that should be applied to a particular user profile. These User Roles will help streamline the user creation process, prevent security holes in user permissions, and establish scalable system administration policies. In this post, we will explore how to create proper User Roles, where those roles should be applied, and how they can quickly accommodate special cases. Continue reading »

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Growth, Accelerated – 2012 Professional Services Benchmark Report

The second half of 2010 saw the professional services market starting to emerge from one of the worst recessions in decades. Organizations were just starting to hire, and all of the key indicators, such as annual revenues, bill rates, and backlogs, were trending up. Last year, Service Performance Insight, in their annual PS Maturity Benchmark Report, predicted accelerated growth in 2011, and advised services organizations how to position themselves to capitalize on the nascent economic recovery.

True to form—and despite natural disasters in Asia, revolution in the Middle East, impending economic meltdown in southern Europe, and a sluggish recovery in the US—the global professional services market did indeed experience strong growth in 2011. SPI Research’s 2012 Professional Services Benchmark Report shows most key performance indicators significantly up, but not quite back to pre-recession levels, indicating both strength in the market and room for additional growth. Continue reading »

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