Automating business services is a process of time and resource optimization. Servicing customers faster and more efficiently? Sounds like the perfect shot of adrenaline to your company.
In this post, we’ll cover why professional services automation is important, how it can improve your business, and how you can get started automating your services right now! Let’s dive in to see all that professional services automation has to offer.
What Is Professional Services Automation
Professional services automation (PSA) is part of a larger trend that’s sweeping the business world: digital transformation. In short, digital transformation is all about moving away from traditional, monolithic IT infrastructures to more agile and dynamic systems that are built to be constantly updated through business processes and feedback.
Professional services automation (PSA) market size, which is currently $877.93 million, is anticipated to reach $1679.72 million by 2026.
Professional services automation isn’t just about having a computer do your job. It also requires you to have a thorough understanding of your processes and the difficulties they pose, then defining exactly what it will take to make those processes easier, faster and more efficient.
Importance Of Professional Services Automation
Automation is essential for your business to remain relevant and profitable in today’s digital world. In fact, a study conducted by Marketing Profs showed that 66% of businesses who responded said that automation has helped them improve operational efficiency, client satisfaction and employee morale.
In the meantime, it is anticipated that the size of the global PSA software market would increase at a CAGR of 8.2% and surpass $15.1 billion by 2027.
Benefits Of Professional Services Automation
Project management software like PSA can help professional services organizations automate resource management and client project management processes. By automating these processes, organizations can improve efficiency and better manage client expectations.
For professional services firms, a good customer relationship management (CRM) solution is essential to delivering service performance insight and managing the project lifecycle effectively.
PSA solution provide a range of features and tools that help firms to streamline their operations, professional services teams improve communication with clients, and services business track project progress effectively.
1. Digital Transformation
Automating your processes will ultimately reduce costs and save you time. Not only that, but digital transformation also demands companies to stay on the cutting edge of new technology and find ways to better serve their customers. None of this is possible without automation.
2. Customer Satisfaction
During the focal period of 2019 to 2025, the communication and marketing firm industry is anticipated to expand at the highest CAGR of 15.5%.
Unfortunately, in today’s day and age, customer service isn’t a given; it’s usually an ordeal filled with unreturned calls, unanswered emails and general frustration for your customers. When you automate your process, this already stressful situation becomes much easier for your clients to deal with.
3. Speed To Market
When you automate your services, you’ll be able to develop new features faster. Plus, when the service is automated, it saves you from having to do follow-up on customers that aren’t happy with your product or service. All of this makes getting new business much easier and more efficient.
4. Automation Will Make Your Work Easier
When you automate a process, not only can it decrease the hours of work time but also give you more time to focus on other aspects of your business like customer acquisition and design.
5. Flexibility And Adaptability
You can automate the processes that you don’t have time to perform but still need to take care of, such as invoicing. You can also automate parts of your process that fall outside your routine, like working with a client to find the best and most appropriate software solution for them.
6. Automation Will Increase Employee Productivity
When you automate a tedious or repetitive task, it will create new work for your employees that isn’t tedious or repetitive. This means employee morale will go up, which in turn means increased productivity and efficiency for your entire team.
7. Customer Focus
When you automate a service, you can now devote all of your time and attention to developing and keeping up with new technology so that you can continue to evolve as a business. You’ll also be able to do all this without having to worry about managing or creating the technical side of things.
8. Save Money
With digital transformation in mind, we should all prepare for automation. For one thing, when you automate a process, it decreases the amount of work time required on your part in order to complete that function.
This means less man hours spent on manual labor while also cutting your operating costs by outsourcing manual tasks (like answering customer support tickets).
Risks Of Professional Services Automation
As a business providing professional services, it’s important to have a strong team in place to manage client projects. This team should be skilled in project accounting and time and expense management.
Having a good handle on these aspects of the business will help ensure that projects are completed on time and within budget.
By 2025, the market for IT professional services is projected to grow at a CAGR of 8.4% and reach $1.070 billion. Service delivery and project delivery are two of the most important aspects of running a professional services organization.
PSA software can help you manage both of these aspects by providing a centralized tool for tracking projects and services. By implementing PSA software tool, you can improve your service delivery and ensure that your projects are completed on time and within budget.
1. Schedule Risks
When you automate your services, it’s possible that it will result in a loss of revenue due to the time and cost you’ll spend on fixing problems.
For example, if you have an automated service that gives access to other functions but they’re not finished yet (such as contacting a client), the automation could mean lost revenue if the client isn’t satisfied with your services.
2. Risk Of Not Getting What You Want
In terms of yearly revenue growth, embedded software and SaaS led the five professional services sector segments in 2019 with a 16.1% rate.
When you automate your process, some parts of the process may not go smoothly while others may be successful, and some parts will likely be delayed or fail altogether. This means your service will likely be less than optimal when it’s launched.
3. Risk Of Data Loss
When you automate a service, it’s possible that the data you need to perform the service may not exist in the data you need (as in, there could be unsynced data between services).
This means that else may have to manually code or re-enter information. As well, services might not sync properly if they aren’t properly coded. Unsynced data is also responsible for many problems with customer support tickets.
4. Risk Of Inconsistency
When you automate your services, it’s possible that the changes will be made in error and won’t stick properly. This can result in problems like inaccurate data or worse, an unintentional modification of a client’s service.
5. Risk Of Giving Employees Too Much Freedom
As mentioned above, when you automate a service, it means you’ll need to think about how to handle new features or functions for your customers that may not come along anytime soon.
However, if all those new features are automatically added without any input from your staff, this could mean the loss of your core values as a business – namely customer satisfaction and time efficiency.
6. Risk Of Losing Repeat Customers
When you automate your service, it means you’ll have to work on new clients while also maintaining the relationships with your current clients. Your current clients may not see the value in this, thus resulting in them leaving your service.
7. Risk Of Increased Costs
When you automate a service it means you’ll have to invest time, money and resources into newer technology that might end up being obsolete or obsolete within a short period of time. It could also mean decreased revenue due to fewer customers, which would result in your business running at a loss.
8. Risk Of Not Knowing What’s Best For Your Business
When you automate your service, you’ll have to invest time and work into finding the right software for your business. The wrong software could mean that it doesn’t do what it should or does too much but in a way that isn’t cost efficient for you or your customers.
As well, changes may be introduced without the information being communicated properly, leading to other issues like an increase in support tickets.
It’s no secret in the market that automation has become an integral part of our daily lives. We use it in all areas of our life: at home, at work and even when we’re on the go.
IDC estimates that in 2019 the market for public cloud services grew by 26% year over year to reach $233.4 billion.
The future looks very promising for professionals and businesses who are keeping up with what’s happening in the technology industry. Some services are already automated, but there are still many that can be automated for a wide range of industries across many industries.