Increase the profitability of your services business with end-to-end optimization of project management, resource management, project financials, billing and invoicing, automation, and analytics.
Professional Services Automation is the Trend
Professional service practices such as IT, accounting, legal and consulting are focused on resource optimization and utilization to increase profits. Oracle NetSuite’s OpenAir Professional Services Automation (PSA) solution provides a rich business intelligence platform for professional services organizations to automate key aspects of business across the bid-to-bill lifecycle including:
– Resource Management
– Project management
– Time and expense tracking
– Project accounting
– Advanced billing and invoicing
NetSuite OpenAir PSA solution supports the entire professional services delivery organization with a powerful cloud-based suite providing a single source of truth of your finance, manpower and projects – from actionable insights dashboard to line level of granularity for your data-driven decision-making.
Value & Impact of Professional Services Automation by NetSuite OpenAir
Profitability and completing projects on time keep professional services sustainable and offer the capability to grow.
For CFO/COO/senior management of Client Services, data-driven decision-making is possible with:
– Increased predictability of revenue and margin forecasts.
– Efficient project revenues and expenses management to optimize project profitability.
– Increase in margins with real-time dashboards, reporting and forecasting tools.
For Consulting Manager, Professional Services Operations, or Project Manager, project transparency enables your efficient project resources and margin maximization:
– A one-click, instant status report based on current project KPIs to share with management. or flip a switch and
create the Client View to share with your customer.
– Expedite billing and improve invoicing accuracy to improve cash flow and streamline revenue recognition.
– Plan capacity and optimize resource utilization with Resource Booking Planner to manage your team’s bookings simply and easily.
– Resource booking requests enable automation. The system recommends the best resource matches based on every resource’s skills, experience, preferences and abilities.
Benefits of NetSuite OpenAir
Services Performance Insight issued a Professional Services Maturity Benchmark that PSA solutions yield several core benefits to Professional Services Optimization (PSO), but most executives only need to look to the 4% increase in billable utilization as a primary reason to select PSA. With the cloud-based NetSuite OpenAir PSA system, comprehensive visibility into back-office financials and front-office services operations in one unified system to make informed, data-driven, strategic and tactical decisions with powerful and insightful business metrics.
– Centralize information and enable real-time collaboration among dispersed teams to provide better quality service and increase
customer satisfaction.
– Connect project activities with company financials to ensure accurate accounting and billing throughout the project lifecycle.
– Get real-time, accurate project status, helping to ensure on-time projects
– Recognize revenue separate from project billing to support profitability and ensure compliance with financial standards.
– Gain efficiency with mobile access to time and expense management.
Professional Services Automation Success Stories with NetSuite OpenAir
Strata Information Group
“OpenAir allowed us to bring time and expense capture, scheduling and invoicing under ‘one roof.’ Monthly utilization rates are 90% or higher and our invoice-to-payment cycle is less than 20 days for a majority of our clients.”
https://www.sigcorp.com/
SoftwareAG Standardized on OpenAir for Global Services
Before utilizing OpenAir PSA, SoftwareAG was unable to effectively track budgets and schedules. As a result, resource utilization suffered as well. The complexities of spreadsheets and a standalone project management software package hindered the company’s ability to track and manage projects efficiently.
SoftwareAG
“Not having to worry if the data is correct has freed us up to focus on higher strategic values such as how to efficiently manage a project, forecasting and revenue recognition.”
https://www.softwareag.com/en_corporate.html
SoftwareAG adopted NetSuite OpenAir to help optimize its business for the better. As a result of integrating their accounting and professional services, it saw huge improvements as project managers could better determine resource
utilization through real-time views of budgets and schedules. This in turn improved the accuracy of staff planning and automated time tracking to deal with profitability forecasting. SoftwareAG, with the help of OpenAir, predicted an 8% savings in administrative overhead and can now provide consistent global customer service.OpenAir is truly a one-stop-shop for all PSA
needs.
NetSuite OpenAir is proven to quickly drive tangible results, increasing resource utilization, project markings and on-time project delivery while driving down IT costs, decreasing project accounting and overhead. With anytime, anywhere access in the cloud, supporting users where they work—on the go or remotely—running a professional services organization becomes more efficient and manageable.
Kenway Consulting
“If you’re a services organization that has struggled to get the insight into the data you need, OpenAir is worth your investment.”
https://www.kenwayconsulting.com/
ONE Pacific’s Professional Services Automation Approach with NetSuite OpenAir
At ONE Pacific, we on the frontier in professional services automation as we have the first-hand experience in all aspects of a professional consultancy’s business management. We apply the best practices as well as customize for the need of various organizations in our clientile. We partner with our clients in optimizing and automating your professional services business for sustainable growth with transparency and actionable insights.