Professional Services Automation(PSA) Software Market Growth Factors

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Professional Services Automation (PSA) is software designed to assist
professionals, such as lawyers, auditors, and IT consultants, with project
management and resource management for client projects and utilization rate
management for billable staff. This is accomplished by developing metrics to
quantify and qualify basic business processes that can then be used to
streamline and improve those processes.

PSA functions include project management and documentation, time recording,
billing, reporting and labor utilization.[citation needed] These features are
often integrated with accounting, Customer Relationship Management (CRM)
systems, and payroll systems in order to improve efficiency of overall
operations. As a result, in addition to better managing client projects,
independent contractors can prevent lost revenue and slow billing cycles.

PSA software suites allow users to integrate industry-appropriate metrics in
order to better understand operations and, in turn, improve efficiency and
profitability. As businesses grow, the size and complexity of their projects
tend to increase as well. PSA software is used to provide visibility into
mid-project profitability

Top Companies in global market: Autotask, ConnectWise, Accelo, Atera,
HarmonyPSA, Tigerpaw Software, Promys, Appirio, ChangePoint,
FinancialForce.com, NetSuite OpenAir, Projector PSA, Tenrox, Compuware
Corporation, Clarizen and Deltek.


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