The days of using multiple resources to get the job done are over. Or at least they should be! If you’re still stuck using separate platforms to track orders, inventory, jobs, and billing, it’s time for an upgrade. There are many reasons to invest in business automation software. Let’s look at how PSA software works, why more companies are capitalizing on this technology, and the ways it can improve your business.
How PSA Software Systems Work
Professional services automation (PSA) software is technology that allows service companies to manage multiple areas of the organization such as billing, time tracking, orders, inventory, and more. PSA software takes manual processes and automates them to help businesses lower expenses and create an efficient workflow.
The best PSA software systems manage all these tasks and can relay information from one department to another, avoiding costly errors and inefficiencies.
Why PSA Software is Critical for Business Success
The demand for professional services is growing. One of the most effective ways to manage that growth is through the implementation of PSA software. Companies who invest in PSA software will have a competitive edge over those who attempt to manage their businesses with outdated practices.
Without an organized, effective business model, you could:
- Impact customer satisfaction through delayed service, parts delivery, and staffing issues
- Increase expenses from lost or unorganized inventory
- Struggle with inconsistent cash flow due to slow manual invoicing and payment processing
- Experience ongoing data entry errors due to busy employees and multiple systems utilized to manage your business
7 Reasons to Implement PSA Software Today!
Managed technology services companies big or small need to investigate all the benefits PSA software will contribute to their business.
One: Accommodate a Remote Workforce
PSA software is essential for many service businesses due to the movement of a remote workforce.
50% of companies that enabled a remote workforce in 2020 aim to retain it even post-pandemic. (SWZD, 2021)
98% of remote employees plan to work remotely for their entire career. (Buffer, 2020)
Thanks to the global pandemic and advancements in technology, many individuals in the workforce have no plans to return to a traditional office, making PSA software critical for tech and professional service businesses to maintain productivity.
Ask yourself, “Can my team work from anywhere?” It’s imperative to have a centralized system that makes it easy for any employee to access key information, whether that’s financials or notes from the last customer service call.
Effective collaboration is key to any business offering remote work options or hiring contractors to complete the jobs at hand.
Two: Compete with the Big Guys
For small service operations, competing with large competitors is a daunting task. Today, service automation solutions are affordable, and many times save you money with less manual labor and wasted time trying to manage multiple platforms or tools. With the right PSA software, you can do more with less, leveling the playing ground between smaller operations and large service companies with cost-effective business management and competitive customer service.
At Tigerpaw, we’ve created a tool that fits the budget and needs of small managed technology services businesses who desire to take their organization to the next level. We’ll show your teams how to automate processes to give staff back precious hours in their day, freeing them up to spend their time on tasks that move your business forward. In turn, you’ll accomplish more of your goals with the staff you have now. Download our PSA Checklist to find out what you need from PSA software to make a difference in your business’s workflow.
Three: Eliminate Missing & Inaccurate Inventory
Not knowing how much you have in stock and where it is located can lead to costly surpluses or unnecessary shortages. PSA software connects inventory to your orders and billing through one system. PSA software allows you to see available inventory, inventory on order, and associated costs to help you better manage your supply chain. With Tigerpaw, you can even set up minimum and maximum inventory levels so orders are automatically generated to ensure you never run out of stock or get stuck with obsolete inventory.
Four: Reduce Costly, Error-prone Manual Entry
Over half of all organizations agree that business process automation (BPA) minimizes human error in the workflow. (McKinsey, 2021)
Sending the wrong product to the wrong customer due to an error in the system results in more time spent handling a customer project, more money resolving the issue, and the risk of losing a frustrated customer who is still waiting on the products they need.
With PSA software, automating processes to reduce the number of times your employees need to submit information into a system reduces the number of errors your customers and team will experience. Plus, you’ll no longer be paying for time spent on duplicate entries or reconciling spreadsheets.
Five: Complete Projects On Time and On Budget
Time is money. Delaying projects or dragging out cumbersome manual tasks wastes precious resources that can be used elsewhere and significantly reduces your profitability.
73% of IT leaders say that thanks to automation success, employees are saving between 10 and 50% of the time they previously spent doing manual tasks. (McKinsey, 2021)
Updating to PSA software saves time and money by:
- Consolidating systems, where one platform manages quotes, orders, inventory, invoicing, etc.
- Making it easy to track and bill all time spent on a project
- Flagging delays and potential budget overages so you can take action before it’s too late
Automating some of the workload helps you keep projects on track and clearly identifies whether you’re making or losing money on each one.
Six: Timely Invoicing
Cash flow is critical to all businesses but especially small operations who don’t have a plethora of resources at their disposal. You can’t afford to misplace an invoice in a messy office or lose track of what’s been sent out when. Paper invoicing makes it too easy to delay, misplace or even completely forget to invoice a client.
PSA software can allow you to invoice customers immediately upon completion of a project or even daily. Invoices are generated automatically and sent to the customer when work is completed, which means you get paid quicker. Customers can also set up autopay, so as soon as an invoice is issued, you have your money in hand. Automating payments gives you the opportunity to put cash back into the business sooner.
Seven: Utilizing Staff Appropriately
Time management is especially important when it comes to your technicians. The sad truth is most organizations have a hard time tracking and improving technician utilization. PSA software, especially when there’s a mobile component, can help you capture more billable time from each technician. Knowing how your teams are spending their time and what resources you need to keep up with demands makes it easier to schedule and manage service.
Using a PSA to manage service ticketing, inventory, and time tracking helps you:
- Calculate the true ROI of different jobs and customer contracts
- Plan efficient routes and match tech skills and truck inventory
- Better manage customer expectations
PSA software changes the way you work—in the best way!
At Tigerpaw, our commitment to you goes far beyond the initial transaction. We’ll show your team how to achieve their goals, introduce processes, suggest best practices, and eliminate the roadblocks that are holding back your success—all through a single, easy-to-use platform!
Ready to talk to a Tigerpaw team member? Contact us today to see our software in action.