Bottlenecks are an inevitable challenge faced by services businesses of all types. In both the sales and services lifecycles there are areas where progress is likely to slow down as teams wait for information to be transferred and decisions to be made. These bottlenecks must be overcome in order to increase cash flow and improve project completion rates.
Studies have shown that decision-making bottlenecks have a major impact on project failure rates -- the difference between making a decision in one hour and making it in five translates to a 23% increase in project failure and 40% decrease in the probability of successful project completion.
The best-in-class services organizations are ones that overcome these bottlenecks and think about how they can leverage services to drive the best possible customer experience while also optimizing for profitability.
These businesses become more efficient and scalable in decision-making, and leverage technology to help them do so. Professional Services Automation (PSA) software is often the key to their success.
PSA Software For Breaking Through Bottlenecks:
Professional Services Automation is taking mundane or inefficient processes in the services industry and bringing them into the future. PSA helps you complete tasks better and faster than ever before by digitizing and automating different stages of a product or sales life cycle.
Time-Tracking is an important but pesky task to remember to do. There are many different tools that will help you automatically track time as you work, but having a tracker right within a PSA tool like Krow Software, would save you time hopping between apps and cause less confusion down the line by keeping all information tracked in one spot.
Project management is a large part of professional services automation. By digitizing project management stages all in one spot, you are ensuring all of the data and information is centralized and available to those who need it. The right people will have immediate access to the information they need at any point in time. Utilizing professional services automation software geared toward project management will also help you save time as you will be able to track a project’s lifecycle and easily see where bottlenecks are.
A PSA tool will also allow you and your team to collaborate and share documents easier than ever before. Team collaboration is an important part of speeding up decision-making, ensuring everyone is on the same page, and smashing bottlenecks that may occur.
To learn more about the features of Krow PSA and see how your services business can use a PSA tool to break through bottlenecks, visit: https://krowsoftware.com/product/