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  • Writer's pictureJessica Gibson

5 Advantages Of FinancialForce PSA Software For Management Consulting Firms

Management consulting firms often spend a fortune to gain greater visibility on the finer details of their projects, such as people, finances, and time management. Thankfully, FinancialForce Professional Services Automation (PSA) software can help save invaluable time, money, and other resources.

Here are just 5 of the many advantages of FinancialForce PSA software for management consulting firms.

  • Effective time and expense management

In modern times, where real-time information is expected, FinancialForce PSA software follows suit. You have easy access to expense and time data at any time, on any device. The workforce can easily and quickly upload timesheets and expense reports upon completion of a job, or multiple jobs, and management is able to view real-time project information with financial implications. The workforce can even provide their expected schedules over the next few weeks to help drive revenue and resource forecasting!

  • Resource planning capabilities

Management consulting firms are typically working on multipleworking multiple projects simultaneously. In that, awareness must be placed on:

ü Where their available resources are being utilized on a task-by-task basis

ü Whether they have enough available consultants to initiate another project

For that, FinancialForce PSA software is a perfect tool. For instance, taking into account, location, skill level and availability, FinancialForce PSA software can be leveraged to automatically identify the right consultant for a specific project. The optimization of the entire workforce is completed behind the scenes leaving end-users more time to take on new and different functions.

  • Seamlessly integrates with your current software

As with any new system or process, there’s an expected and understandable learning curve for end-users; however, it’s important to anticipate and address potential questions and concerns within an effective change management plan. Making change management a priority in introducing PSA software will play a large role in the success moving forward. Moreover, FinancialForce PSA software easily integrates with many of the technologies that your team is already using; therefore, lessening the shock of moving to a new system entirely.

  • Streamlines your key information

Generally, at least 10% of customer data is held locally on spreadsheets by employees – which can have negative immediate and long-term implications in numerous areas of your business.

ü Siloed data that makes it difficult for teams to pinpoint potential challenges and risks

ü A higher probability of human error as you'll have to input an increased amount of data

ü Delays in your tasks will further impact your bottom line as seeking the right information can be tedious for your project teams

ü Customer knowledge leaving with employees that leave the organization

ü Legal ramifications for storing customer information outside of a secure network

In its very nature, FinancialForce PSA software helps you avoid these challenges. With a streamlined interface, relevant customer data is available to the right people at any time, on any device.

  • Provides deep project financial insights

FinancialForce PSA software offers full visibility of your finances. This ensures that you have the required funds to achieve success on each project you’re working on while improving cash flow. Furthermore, FinancialForce PSA software helps you forecast more accurately, and identify where your costs are rising and falling so that you can make informed decisions to improve your profit margins.

Call or email us at Cloud Journey Consulting Group to find out how you can leverage FinancialForce PSA software for management consulting firms. As a leading FinancialForce partner, we can help you reap the countless benefits of FinancialForce PSA software for management consulting firms.


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