Professional services automation (PSA) refers to software tools designed to enhance productivity and profitability of IT services companies by tightly integrating and automating key business operations like project management, resource planning, time tracking, billing and accounting.

Importance for Managed Service Providers:

– Streamlines delivery and management of client services
– Improves resource planning and cost analysis
– Enables accurately tracking time and expenses
– Tightens financial control through automation

Example:

An MSP uses PSA to gain insights like budget allocated versus spend for projects to efficiently manage multiple outsourcing contracts while ensuring optimal staff utilization across accounts.

Key PSA Components:

– Centralised dashboard
– Project planning capabilities
– Resource allocation tools
– Billing and invoicing
– Business analytics and reporting

By leveraging PSA, IT service partners achieve improved productivity, operational efficiency and financial health – making them an indispensable investment.