SPI White Paper:

Why the Right PSA Solution is Critical to Firm Growth & Profitability

Download the new white paper published by professional services think tank, Service Performance Insight, titled, Accelerate Professional Services Growth and Profit: Why the right PSA solution is critical to firm growth and profitability for insight into business applications that support the specialized requirements of project-based businesses:

The Challenges of Growth & Market Trends Driving the Need for Change

Understand the five prevalent obstacles faced by growing firms, along with key industry trends where having a PSA solution allows top performing firms to manage their business more effectively

Why the Right PSA Solution is Critical to Firm Growth and Profitability

Integrated to provide visibility and collaboration between sales, service delivery and finance

The Benefits of Professional Services Automation

Learn the top five business benefits your firm will recognize as a result of improved automation

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According to a new study published by the leading professional services think tank, Service Performance Insight (SPI) which analyzes results from more than 250 management and IT consultancies, the most profitable consulting firms run their business on an integrated professional services automation (PSA) solution.

These firms increased their EBITDA by 6.2 percentage points, improving their profit margins by 56%.

Key Performance Indicator (KPI) No
PSA		 Non-Integrated
PSA		 Integrated
PSA
Year-over-year change in PS headcount 6.4% 7.9% 9.4%
% of employees billable or chargeable 69.1% 70.3% 76.3%
Billable utilization 68.8% 70.0% 76.4%
Projects delivered on-time 78.1% 78.6% 81.3%
A standardized delivery methodology is used 60.5% 64.9% 75.2%
Percent of annual revenue target achieved 87.1% 92.0% 92.4%
Percent of annual margin target achieved 88.4% 89.9% 91.0%
Profit (EBITDA) 8.5% 7.9% 14.1%

What Should You Look For?

But, how did the most successful firms choose the right PSA for their firm? They looked for a solution that was designed to manage the entire project and engagement lifecycle from project initiation and planning, through execution, to control and close out. In short, they chose the solution that would best improve service delivery, resource management, project management, and collaboration.