OUR AREAS OF EXPERTISE
Every sector has specific requirements. We understand them.
Engineering
Track the profitability of every project, from the initial estimate to completion.
Information Technology
Gain complete visibility into your development and implementation projects.
Consulting
Optimize the allocation of your consultants across multiple projects.
Marketing and Advertising
Track the profitability of every campaign and streamline billing.
Staffing, Recruitment, and Professional Employer Organizations (PEOs)
Manage the profitability of your staffing and recruitment engagements and HR and payroll management agreements for each client.
Life Sciences
Track the profitability of your research and development projects while managing complex regulatory requirements.
Law Firms
Track the profitability of every matter and simplify hourly, fixed-fee, or matter-based billing.
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MAIN CHALLENGES
Hours worked are recorded in spreadsheets, emails, or various disconnected tools, which slows down billing, increases the risk of errors, and can lead to lost revenue.
While a project is underway, it can be difficult to determine whether it remains profitable or whether the hours spent have already exceeded the budget agreed upon with the client.
Assigning the right people to the right projects at the right time becomes increasingly complex when team availability and capacity are not visible in real time.
Between variable rates, fixed fees, reimbursable expenses, and contract amendments, billing requires numerous manual steps and remains prone to errors.
Client data, time entries, expenses, and project-related documents are spread across multiple systems, making it difficult for executives and managers to gain a comprehensive view of operations.
As the number of clients and projects grows, manual processes that were once sufficient become a barrier to further growth.
Project Profitability
Track the hours, expenses, and margin of each project in real time. Anticipate cost overruns before they erode your margins and protect your firm’s profitability.
Resource Planning and Capacity Management
Optimize resource allocation based on skills and availability to avoid overutilization, underutilization, and scheduling conflicts.
Billing and Revenue Recognition
Generate accurate invoices using the appropriate billing model, whether based on time and materials, a fixed fee, or project milestones. Recognize revenue accurately and gain complete financial visibility across all your projects.
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MAIN FUNCTIONALITIES FOR PROFESSIONAL SERVICES
Project Accounting and Financial Tracking
Centralize the financial data for each project, including revenue, costs, hours, and expenses. Compare actual results with budgets to track margin performance and quickly identify variances that could impact profitability.
Time and Expense Tracking
Record hours worked and expenses directly against the projects to which they relate. Improve data accuracy, reduce unrecorded time, and accelerate processing for billing and project accounting.
Flexible Billing Models
Bill clients based on time and materials, fixed fees, milestones, or percentage of completion. Combine different billing methods and tailor invoice formats to the requirements of each client or project.
Revenue Recognition
Automate revenue recognition based on contract terms and project progress. Separate billing schedules from revenue recognition schedules to produce more accurate financial statements and gain better visibility into recognized revenue.
Profitability by Project, Client, and Team
Analyze revenue, costs, and margins by project, client, department, or team. Access up-to-date financial data to identify the most profitable activities and take action before overruns erode your margins.
Real-Time Reports and Dashboards
Create reports and dashboards tailored to the needs of executives, project managers, and finance teams. Track key metrics such as budgets, costs, revenue, margins, and unbilled amounts without manually consolidating multiple spreadsheets.
Financial Process Automation
Automate approvals, invoicing workflows, and recurring financial processes to reduce manual intervention. Accelerate data processing and the financial close while maintaining a complete audit trail for every transaction.
ADVANCED CAPABILITIES
PROFESSIONAL SERVICES AUTOMATION (PSA)
PSA capabilities leverage artificial intelligence to enhance resource planning, forecast team capacity, and deliver real-time project visibility. Early alerts identify potential overruns to improve resource allocation and project profitability.
Discover how PSA can help you:
- forecast resource needs and team capacity
- assign the right people to the right projects
- gain real-time visibility into resource utilization
- identify risks that could impact project timelines and profitability
Sage Intacct and SAP Cloud ERP each offer their own PSA module: Sage Intacct PSA and SAP Project and Resource Management.
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MAIN BENEFITS
Profitability
Quickly identify the projects generating the strongest margins and those whose costs exceed forecasts, allowing you to take action before project completion.
Efficiency
Reduce the time spent on administrative tasks so your teams can focus more on serving clients.
Accuracy
Reduce billing errors and unbilled hours through centralized and reliable time and expense entry.
Visibility
Provide executives with real-time visibility into the financial health of every project and the firm as a whole.
Growth
Streamline your processes to manage more clients and projects without increasing manual work.
Client Satisfaction
Keep projects on schedule and within budget while providing clear billing that helps strengthen client trust.
WHAT PROFESSIONAL SERVICES FIRMS SAY
“The visibility we have through Sage Intacct is great. It helped us improve profitability and make faster, better decisions because at literally the click of a button, we can see what’s going on in the business.”
« SAP gives us the structure and scalability we need as we continue to grow. We now have one system, real-time visibility, and a strong, flexible foundation that supports our teams today while scaling with us over the next five to ten years across all teams. »
“Initially, we used QuickBooks, but it had limitations. It wasn’t cloud-based, and its reporting capabilities were subpar. We were outgrowing the software and needed a new system to scale with us.”
