Professional Services Automation Software

Professional services automation (PSA) software helps companies in professional services manage most or all back-office and front-office activities. PSA systems track operations, related costs, and the revenues they generate. These products are used by consultants, lawyers, marketing account managers, and other professional services industry roles that conduct business on a client-project level. PSA software delivers insight into the business processes of project and portfolio management to improve the efficiency, productivity, and profitability of the project operations in place. This type of software can be used by all departments of a professional services company, from sales and marketing to accounting, as well as by project managers.

There are two major types of PSA software—best of breed (which focuses exclusively on professional services) and ERP systems that provide features for PSA combined with functionality for manufacturing or distribution.

PSA systems can be integrated with accounting software, CRM software, and payroll software to make a more end-to-end solution.

To qualify for inclusion in the Professional Services Automation category, a product must:

• Manage customer profiles, sales opportunities, and communications
• Include features for contract management and service level agreements (SLA)
• Provide project and portfolio management for professional services
• Deliver accounting functionality or integrate with accounting software
• Track project and portfolio costs such as time and expenses
• Record and allocate resources based on necessity and availability
• Recognize revenue by project, portfolio, or business unit
• Monitor project and portfolio performance, risk, and profitability