We know every professional service firm is different. There are different sizes, people, goals, needs, and budgets. So with all these different factors weighing in on decision making, how do you know you’re making the right choice when it comes to adopting a new software? We know a software search can be a tough one, but that’s why we’re here! In this blog, we’re going to cover everything you need to know about 2 different types of software — ERP and PSA.
If you're still left feeling unsure after reading through our guide, shoot us a message! We’d be more than happy to help you navigate through the different types of software out there and answer any questions you have about BigTime.
Enterprise Resource Planning (ERP) Software
What is Enterprise Resource Planning Software?
ERP software is a suite of solutions that leverage a centralized database to automate and optimize routine business processes and link various departments together in a centralized location. This means a business can integrate its financials, supply chain operations, reporting, manufacturing, accounting, and human resources activities under one shared system.
Why would I want ERP software?
Simply put, having an ERP means you only need one program to keep track of all of the moving parts in your firm so things don’t get lost in the shuffle. An ERP helps to give you a big picture look at the who, what, when, and why of your firm’s day-to-day operations.
What industries/companies use ERP software?
Manufacturing, education, healthcare, retail, and construction. Industries like construction, for instance, choose ERP software because of its capability to use data from various construction processes such as contract management, accounting, HR, equipment management, and so on to help more informed business decisions.
Professional Services Automation (PSA) Software
What is professional services automation software?
PSA software is all about helping firms manage client engagements throughout the project lifecycle. This type of software establishes a process for planning, managing, and measuring the performance of each project throughout its lifecycle. A PSA solution, like BigTime, is where you go to budget, track time and expenses, allocate resources, and invoice your clients based on the data collected. Continuing in the process, management teams will be able to view meaningful reports and KPIs that help firms to manage their financial health.
Why would I want PSA software?
A PSA solution can help you to streamline your firm and improve operational efficiency. How? This type of software gives you easy-to-comprehend real-time data (including project status, employee performance, financial metrics, expenses, time, and more) that can be accessed by your entire organization (or those you choose to view). This kind of transparency allows firm leaders and managers to spot and address operational inefficiencies in real-time.
What industries/companies use professional services automation?
You guessed it! Professional service firms are PSA software’s biggest fans. This type of software is ideal for accounting, engineering, architecture, marketing & creative, IT services, legal, government contracting, and consulting businesses.
A Side-By-Side Comparison of PSA & ERP Software
Benefits of a PSA solution like BigTime
Compared to an ERP solution that is an all-in-one solution that can’t really be customized, BigTime PSA software allows you to use the tools you love without having to implement big changes in your company. BigTime’s deep integrations connect with what’s already working for you. A PSA solution like BigTime helps you to build a best-of-breed ecosystem that evolves and scales with you. With CRM, PSA, and accounting seamlessly integrated, you can manage your business in real-time and get work done faster. Our partnerships are designed to accommodate firms of any size so we can remain constant as you grow.
PSA or ERP: Still Not Sure?
We know that was a lot of information. Let us walk you through it and figure out what’s best for you and your company. Give us a holler whenever you’re ready.
About the Author
Content Marketing SpecialistSee more by Leanna Michniuk