Are Disconnected HR and Professional Services Automation (PSA) Software Hurting Your Employees’ Productivity?
For any company, profitability is the keyword! Companies often tend to get waylaid in the processing of the figures and profit levels. A lot of times, SMEs and startups can’t even figure out where they have gone wrong. More often than not, the problem lies in streamlining and integration. A lot of crucial resources are wasted in managing too many disconnected things related to organizational management, resource planning, and employee functionality. Companies need to focus on having integrated solutions for all professional services.
Three crucial disconnects result in “fire drills” in your organization every month without you even realizing their deep-rooted impact on your profit levels -
1. Fluctuating Costs: A lot of companies have different management solutions from different IT firms. Examples include project management software, employee payroll management software, expense management, project cash flow management, client invoice management, report generation, etc. Each of these might have been sourced from different firms and, depending on the features, billed differently. Adding each of this management software into the billable amount with each update or add-on feature leads to a rise in cost and might affect your company’s budget and expenditure.
2. Streamlining Issues: Different software by different companies have different maintenance timelines which might clash with each other and stall work. Employee productivity and customer relationships take a hit leading to a dip in profitability. Office management software, as well as HR software, must be able to ensure that all allied software aid in employee productivity and this is absent in most cases. In fact, the excess cost is incurred for extra maintenance. Aligning all the updated features and maintenance modes leads to cost duplicity due to repetitive features or services available across various software.
3. Manual Transfers: Imagine having different software for different departments. While from an outsider’s perspective, it looks process-driven, internally it can lead to discrepancies and differences. Often, the updates of one management software may not blend seamlessly with the other, leading to employee frustrations and time wastage. It might require manual intervention to get data or information from one department to another. Duplicating the data, invoice discrepancies, crediting and re-invoicing the customers, tracking down missing data, and similar other troubleshooters also work against the cash flow and systematic processing.
On a large scale, these small glitches can lead to significant flaws. If you are a startup or an SME, such discrepancies can lead to potential blacklisting by customers and clients, affecting profits and company positioning.
Streamlining Your Business Through Hybrid HR +PSA Software
Professional services automation (PSA) is a cloud-based HCM & HRMS SaaS solution to the above mentioned fundamental problems that SMEs and Startups face every month. PSA also boosts the credibility of SMEs while pitching to investors.
Investors tend to invest in startups that have robust management systems in place. This qualifies as the first thing that they see when choosing a company to back. Next come the business model and idea integration into the product or service provided. If you see closely, investors are always backing up organizations that merit systematic processes in place. Uber, Oyo Rooms, Ola, Flipkart are a few examples of Indian companies that have integrated, streamlined PSA in their businesses, and all of them enjoy great backing of investors.
The professional services automation market is expected to grow at a (CAGR) of 11.7% and reach $1,244.8 million in 2022 from $716.5 million in 2017. The small and medium-sized enterprises (SMEs) segment is expected to follow the trend and grow at an even higher CAGR in the professional services automation market. ( Source: MarketsandMarkets)
SMEs also stand to benefit from the deployment of professional services automation on the cloud. It could help them reduce IT infrastructure and maintenance expenditure since cloud-based professional services automation solutions are less expensive than on-premise solutions. The entry of several small vendors in the market has opened up many options for organizations to have inexpensive solutions. Factors such as real-time monitoring, dependability, scalability, flexibility, cost-effectiveness, user-friendliness, seamless integration, enhanced agility, and improved efficiency drive SMEs to adopt professional services automation solutions. No wonder there has been a steep rise in SMEs adopting automation owing to the benefits accrued by the companies with PSA systems in place.
What Do We Offer?
With our seamlessly blended, fully integrated, and streamlined PSA system, engineering services companies can focus more on productive employees and happy customers instead of worrying about the function of their internal systems. Automation drives organizations to focus on better products, happy employees, and satisfied clients, and it is this key principle that has helped us bring out best-in-class PSA services for companies. Backed by excellent support services, our holistic PSA system software helps an engineering services firm to ensure that profitability is at the pinnacle without downsizing employee morale and saving both time and money.
Originally published at https://juntrax.com on June 11, 2020.
