Professional services firms: solve your pain points with a project management solution

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Like all other industries, professional services firms often encounter typical pain points at some point during their growth. Recognize your firm in the following situations? Maybe it’s time to look into specialized tools to facilitate your processes. Look into a project management solution specifically designed for professional services firms like JOVACO Project, which provides a range of specialized modules to solve the pain points of professional services firms.

Pain point #1: Lack of visibility on project information
Solution: Real-time project reports

Having a hard time accessing project information or sharing it with the management team? Look for real-time reporting capabilities and sharing options. A project operations platform like JOVACO POP puts clear, concise web reports at your disposal for optimal visibility on project profitability, budget progress, and resource productivity. They can also be exported and shared automatically in various formats based on user needs. It also provides access to supplier invoices and lets you follow up on client invoicing for your various projects.

Pain point #2: Gap between budgets versus actuals
Solution: A progress module

Ideally, delivering your project would cost less than what was estimated at first, but things can be problematic if the project ends up requiring more effort than planned. A progress module helps you avoid this situation by letting you track the initial budget, the efforts to date, and the budgetary progress for the project. The project manager can enter the actual progress to calculate the acquired value of the project for a better cost estimate at the end of the project. This information lets you be proactive and avoid cost overruns.

Pain point #3: Long, complex billing
Solution: A professional invoicing module

Professional services firms often have complex billing requirements (multiple customers to bill for one project, fixed price and time and materials, or multiple projects on the same invoice) that combine different resource rates and billing methods, often within a single project or project phase. A professional invoicing module should have the capability to mix and match different rates (based on resource, class of employee or even task) and methods, and automate calculations based on your criteria to accelerate your invoicing cycle and improve your cash flows.

Pain point #4: Errors, double entries, and manual entries
Solution: An integrated timesheet application

An integrated, web-based timesheet removes the need for multiple manual entries and having to modify data in multiple systems, which is time-consuming and can lead to errors and discrepancies. The integration also makes the information available throughout the rest of the system as soon as the timesheet is submitted, making it easier to track finances and accelerating the invoicing cycle. Moreover, look for alert functionalities to avoid having to run after timesheets!

Pain point #5: Difficulty to track resource occupation rates
Solution: An advanced planning module

No more scheduling conflicts or employees sitting on the bench! An advanced planning module lets you maximize employee productivity and billable hours by optimizing their utilization rates and workloads. You can allocate resources to specific activities depending on their competences and availabilities. Consolidated views let you track multiple projects simultaneously and distribute tasks to avoid under- or overutilization.

A successful project practice starts with the right tools. With the right modules and applications, you can boost your productivity and profitability, improve your cash flows, and retain your customers by increasing their satisfaction and loyalty. Fully integrated to Microsoft Dynamics ERP solutions, JOVACO Project was developed in partnership with professional services firms to meet their specific needs. To learn more, read up on the Top 5 project management features or learn how to Improve visibility on project progress with JOVACO POP.

By JOVACO Solutions, Microsoft Dynamics ERP specialists in Quebec


About JOVACO Solutions

JOVACO Solutions is a leading ERP and CRM solution provider operating for over 35 years. As a specialist of Microsoft Dynamics business management solutions, we offer a wide range of products and services to meet all the needs of professional services firms and project-based organizations. We also offer specialized project management tools and timesheet add-ons fully integrated to Microsoft Dynamics solutions. Visit our website or contact us for more information.

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