The client billing process is one of the most critical business processes that professional services organizations must manage.
Getting invoices out quickly, accurately, and in way that meets your client’s billing requirements can have a direct impact on your cash flow, which is the lifeblood of a professional services firm.
The services revenue forecasting process is an important financial management practice for all professional services firms.
These revenue forecasts help provide a critical input to hiring and manpower decisions and other investments that your firm may be considering. Unfortunately, building accurate forecasts is something that most firms have found to be a constant struggle.
Project management is a challenge that requires multiple hats. You typically bring together a team with diverse skills sets and work styles, and asking them to collaborate successfully on a project that likely has little room for error. The successful project manager must provide team leadership while at the same time be incredibly detail oriented.
Most companies follow project management methodologies to handle the details, but successful project leadership is harder to define and implement.
SAGlobal is excited to release a new demo video series for the Microsoft Dynamics AX Services Industries ERP solution. The Dynamics AX Services Industries solution is an industry-specific version of Dynamics AX that was designed for Architecture & Engineering firms, IT & Management Consulting firms, Marketing Communications agencies, and other project-driven services organizations. This Dynamics AX solution can help professional services firms and other project-based businesses manage their finances, clients, projects, and resources all in a single easy-to-use software system.
Each year, SPI publishes their Professional Services Maturity Benchmark Study, which collects key performance-related data from hundreds of professional services firms in order to benchmark how the top firms are performing, so that organizations can understand what attributes set them apart from their peers and improve their own performance.
The 2014 report was just released, and includes 198 benchmark statistics from 238 professional services firms across 8 vertical markets, such as Architecture/Engineering firms, IT consulting firms, management consultants, etc…