Professional Services

Female construction worker with orange hard hat and vest.

Acumatica: Ideal for Field, Professional and Oilfield Services

By | Acumatica Cloud ERP, ERP, Field Services, Oilfield Services, Professional Services | No Comments
Female construction worker with orange hard hat and vest.

Oilfield services companies need solutions that allow for precise project accounting, data collection and analytics.

If your business offers services – as a professional firm or a resources exploration company – you need software solutions that keep everyone connected.

With the right enterprise resource planning software solution, you’ll have the proper tools that connect core components of your business, helping your teams be more productive and coordinated. You’ll have better outcomes for your business and your customers.

Your ERP solution helps your business, whether field services, professional services like law and accounting firms, and oilfield services, with the unique, industry-specific functionality that is necessary for success.

An ERP solution also solves common challenges among services companies, including:

  • Meeting customer expectations for reliability and on-time delivery
  • Regulatory compliance with local, state, federal, international and industry mandates
  • Loss of institutional and client knowledge due to employee turnover
  • Complex taxation requirements

Below is a closer look at the core benefits of ERP software and why Acumatica is ideal for field, professional and oilfield services.

Unique challenges for industry

Your company’s business requires specialized solutions that address core challenges that are often difficult to resolve. That’s where Acumatica comes in. Acumatica’s ERP solution has been designed to deliver on the greatest needs for field services, professional services and oilfield services businesses.

Here is a closer look at some of the challenges each of those industries regularly faces:

Field Services

Field service companies have to address a wide range of customer demands and complexities in scheduling, operational efficiency and logistics. Among the common challenges are:

  • More product complexity as the variety of and technology used in products grow. Items such as refrigerators, washing machines and HVAC systems are increasingly “smart.” These connected devices require technicians that can address mechanical and digital issues.
  • Increased competition in both product sales and service providers
  • Ever-increasing customer demands and expectations
  • Staff turnover due to retention challenges and an aging workforce

Professional Services

Professional services firms are selling an intangible product – time and knowledge. This creates challenges related to workload management and balancing client services with sales and marketing. Law, accounting and other professional services businesses are looking for:

  • Commercialization of data and insights delivered via automation solutions
  • Technology that can automate complex processes by breaking them into simple components such as research, data analytics, document assembly, contract management and project management
  • Data agility that allows for better collection, storage, reporting and usage of large amounts of information that provides for faster, accurate insights and solutions for clients
  • Staff efficiency driven by technology that allows for employees to focus on more critical, strategic tasks instead of clerical and administrative responsibilities

Oilfield Services

Complex projects occurring in multiple geographies requires tools to collect and transmit large data sets in real time that can inform key decisions. Oilfield services companies often grapple with:

  • Managing potential risks
  • Maintaining financial control across projects in different areas and under different legal structures
  • Supporting upstream players via repair and maintenance of wells and drilling equipment, drilling rig leasing and seismic data processing
  • Real-time visibility into production costs, yields and outcomes
  • Data sharing across multiple systems
  • Compliance with multiple regulatory mandates
  • Optimizing field logistics and the supply chain
  • Tracking equipment and other assets

These challenges are among the core reasons to use an Acumatica ERP solution.

Work on site.

Field services companies are facing increasingly complex products and more demanding customers.

Advantages to ERP solutions for services companies

Why are more services businesses turning to enterprise resource planning solutions? Because these products address core needs and deliver operational excellence, allowing principals to focus on key business needs.

Here are some of the advantages of choosing a cloud-based Acumatica ERP:

  • Single source. Eliminate the need for costly third-party integration services, expensive add-ons and inefficiency with a completely integrated system that provides a single source of data that can be used across the company.
  • Accurate, efficient data. With one data source, there’s no need to re-enter information in different systems, resulting in fewer errors and information that is more precise.
  • Streamlined operations. Improve efficiency with integrated applications for financials, customer relations, distribution, project management, project accounting and service management.
  • Anywhere access. With cloud-based access and mobile applications, users can access information, files and reports from any internet-connected device at any time and from any location.
  • Security. Service companies have legal and regulatory mandates about how data, especially client data, is collected, stored and used. Other requirements specify security precautions that need to be in place. Acumatica data is secured with the most rigorous physical and software protection.
  • Cost predictability. One license allows you to extend access to new employees or other users without incurring incremental costs and additional licensing fees. Extend access to customers to review accounts and check on status.
  • Operational ease. The cloud-based solution means there is no on-premises equipment to install, configure, maintain and upgrade.
  • Scalability. As your business grows, your Acumatica ERP scales accordingly, allowing more data to be stored and accessed easily.
  • Relationship management. Improve your company’s relationships with partners, suppliers and customers. Gain a 360-degree view of your customers’ interactions with sales, marketing, finance, fulfillment and customer service.
  • Customer management. Manage leads, contacts, accounts and cases with a consolidated view of all prospects and customers.
  • Automated sales and marketing. Integrate your sales and marketing operations with automation tools that track, manage and assign leads to sales teams, resulting in shorter sales cycles and increased closed-business rates.
  • Contract and order management. Use company-defined sales workflows to expedite orders and contract creation and execution with tools to handle discounting, flexible pricing, variable service rates and long-term or warranty-specific support cycles.
  • Adaptability. Acumatica ERP is designed to respond to ever-evolving and changing customer demands for better service, incorporating cloud computing, business intelligence, analytics, automation, e-commerce and mobile technologies.
  • Better insights and productivity. Business intelligence tools and dashboards deliver insights into client trends and purchasing patterns that increase billable hours and staff productivity.
  • Integrated document management. Share invoices, customer interactions, inquiries and contracts across disciplines to provide consistent and coordinated service. Automated and rules-based workflows route documents, track activity, avoid delays and signal when a step in the process is behind schedule.
  • Logistical control. Dispatch calendar boards optimize travel routes, rearrange appointment orders, schedule and dispatch employees to the right job at the right time.
  • Time and expense management. Make timesheet and expense report entry easy for your employees, subcontractors and partners with capabilities on mobile devices. Accelerate the collection and reporting of project costs with tools that consolidate expenses and allocate shared expenses.
  • Project accounting. Manage project budgeting, billing and profitability across projects, employees, materials, resources and tasks. Project accounting integrates with general ledger, accounts payable, accounts receivable and inventory management.
  • Improved cash flow. Fulfill orders and requests faster with fewer mistakes, allowing for faster collection and reconciliation processes.
  • Collaboration. Portals allow for internal collaboration and partnership with freelancers, contractors, partners and customers.
  • Employee empowerment. With a single source of data and a complete view of client engagement, employees have a more complete understanding of relationships, can make better decisions, and can deliver better service.
  • Employee engagement. Better scheduling, allocation and assignment tools allow for better employee outcomes, improved engagement and reduced risk of burnout. These benefits lead to more satisfied, productive and effective employee outcomes.
  • User friendliness. Acumatica allows users to customize views, displays, reports and dashboards using fields and data that are most relevant to their work. Browser-based drop-down menus, point-and-click functionality and visualizations make the platform easy to use quickly.
  • Software integration. Acumatica integrates seamlessly with other work productivity applications such as the Microsoft Office suite of programs. It also integrates with credit-card processing, barcode, project management, e-commerce, print, promotion and supply chain solutions.
  • Reliability. Acumatica’s ERP solution is designed to remain operational, a promise made in guaranteed service level agreements.
  • Data recovery. In the case of a natural disaster or a cyberattack, Acumatica data backup and recovery services ensure that there is minimal disruption and fast restoration of your data.

Acumatica offerings

Acumatica’s enterprise resource planning solution is designed with service industries in mind. Its applications meet specific needs for field services, professional services and oilfield services providers, including:

  • Financial Management – General ledger, accounts receivable, accounts payable, cash management, currency management, tax management, deferred revenue accounting, intercompany accounting, recurring revenue management, fixed assets, human resources and payroll
  • Customer Management – Sales automation, integrated marketing, service and support automation, customer self-service
  • Project Accounting – Cost tracking, advanced billing, time and expense management
  • Inventory Management
  • Sales Order Management
  • Purchase Order Management
  • Materials Requirement Planning
  • Requisition Management
  • Time and Expense Management
  • Service and Support Automation

NexTec Group proudly works with services companies and other industries to identify the systems and tools that make a difference and deliver a competitive advantage. Our skilled and experienced consultants have extensive knowledge of the industries, vendors, products and features, helping our customers choose, implement and optimize their technology solutions.

NexTec works closely with Acumatica customers to deploy and configure the ERP solution and integrate legacy systems to create an integrated software product. We also provide training, insights and supports to ensure your business gets the most return from your investment. To learn more about how NexTec and Acumatica deliver exceptional products that solve your services company’s most critical business needs, give Acumatica a try.

Professional Services ERP Software

By | Acumatica Cloud ERP, ERP, Professional Services | No Comments

Technology to Power Your Professional Services Firm

Acumatica Cloud Enterprise Resource Planning can transform your professional services company

Take control of finance, accounting, service, customer relationships and more

Whether you specialize in simple client requests with quick turnarounds, long-term projects with many moving parts, or work on retainer, your professional services firm faces ongoing challenges, increasing competition, and high client expectations. Your success relies on the ability to orchestrate projects and the right ERP solution can make that happen. NexTec and Acumatica Cloud ERP have the answer.

Benefits for Professional Services Firms

Take control of complex projects

Every project you have is unique, and managing each project from estimate through invoicing requires visibility and control. With Acumatica Cloud ERP, you can bring together your professional services business, managing budgeting, inventory, change orders, time sheets, billing, profitability, and reporting for individual business initiatives.

Put the right people on the job

For any professional service firm, people are the number one asset. Assign the right people to the job, track key performance indicators and drivers with business intelligence, and consistently deliver profitable and successful projects.

Budget, track, and control your business

From budgeting to billing, keeping your costs under control is a necessity. Compare actual project costs with original and revised budgets and forecasts by period using real-time reports, tracking ongoing costs with integrated timesheets, expense reports, and more. Assign specific conditions including flat-fee or hourly-based invoicing to projects.

Grow your business through excellent relationships

The best way to grow your business is to deliver for your customers. By automating sales marketing, and service processes and integrating them with your financials, you can continually maintain customer satisfaction and employee productivity.

Remain agile while you grow

Know how and when to take advantage of opportunities by knowing where you are and knowing how you will get where you want to go. By automating your professional services software, you can maintain the agility that got you where you are today—no matter your size.

Give your people the access they need

Professional Services businesses rarely operate from one location. Give your team access to ERP, CRM time and expense tracking, and more—whether they are at home, on site, in the office, or on the road. With mobile applications and browser access, you can empower your team anytime and anywhere.

Ready to learn more? Request a demo today.

NexTec Group is an award-winning business software consulting firm with over 24 years in the industry. As a firm founded by consultants, we know the challenges you face in organizing projects and managing resources. Respond to today’s opportunities, improve customer relationships, and grow your business with the power of ERP, CRM, and BI customized and delivered for the professional services industry.

Contact us for a free demo.

Acumatica Gold Certified Partner

Webcast: Acumatica Cloud ERP for Field Services

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Construction worker tightening a bolt.

How Acumatica is tailored to your key business operations

By | Acumatica Cloud ERP, Distribution / Supply Chain, ERP, Professional Services | No Comments
Construction worker tightening a bolt.

Acumatica software helps manage construction costs and provide real-time insights on projects.

Operational efficiency is essential as businesses look to reduce costs and output. Simplifying operational complexity can have a dramatic positive impact on your bottom line.

Having the right enterprise resource planning (ERP) solution available helps to keep your data, employees and operations organized, in sync and performing optimally.

Acumatica is an ERP solution that allows companies to improve their operations in many areas, including distribution, professional services, field services and construction. Acumatica provides unique, function-specific tools that help improve operations in each of those key areas.

Benefits of Acumatica

Acumatica is a leading provider of ERP solutions designed to automate core functions, reduce data entry and provide full views of customers and processes. It offers exceptional solutions to companies looking to:

  • Streamline operations
  • Automate back-office functions
  • Access real-time information from anywhere and on any device
  • Grow their business with a scalable business platform that can reduce the burden on internal IT resources
Plumber repairing a faucet on a sink.

Efficient distribution systems help dispatch repair teams and lead to better levels of customer satisfaction.

Acumatica and distribution

Your distribution management software is the way to keep customers satisfied, transportation on schedule and inventory under control.

Acumatica’s distribution management solution helps to manage your supply chain and logistics, from the warehouse to inventory control to order management.

By connecting key data and employees in warehouse, supply chain management, ordering, distribution, sales and marketing, businesses can see in real time the status of orders, products and production. Integrating those functional areas with financial systems and employees gives clear, real-time insights on productivity and logjams.

The distribution applications include:

  • Advanced inventory management
  • Sales order management
  • Purchase order management
  • Requisition management
  • Advanced financials
  • Advanced fulfillment

Here are the main advantages of Acumatica’s distribution management solution:

  • Reduced order times. By automating sales order processing and shipping order creation, your business reduces the time it takes to complete, process and ship each order. Customized rules allow for better management of multiple warehouse locations, returns, drop shipments and credit limits.
  • Supply management. Automating your purchasing process keeps materials on hand when needed.
  • Better customer satisfaction. Provide customers and support teams with real-time visibility of inventory on location or in transit, reorder amounts and inventory expenses.
  • Know true costs. Understand detailed profitability metrics by location, product line, warehouse and business unit in real time.

Acumatica and professional services

Service industry companies succeed in delighting their clients with insights, information and results that help address critical needs. For professional services firms, that means acquiring new business, managing projects and delivering on time.

Acumatica’s services industry software gives your company a 360-degree view of customer requests, projects and activities. It provides a seamless, integrated and transparent view of work being done, status reports and costs.

Professional services firms need to focus on three pillars of profitability to make a profound impact on their clients’ lives and businesses.

  • Two-way communication that includes active listening
  • A clear understanding of needs, pressures, obstacles and opportunities
  • Exceptional execution and delivery of what is expected, ideally before the due date and on or under budget

The right ERP solution helps professional services firms achieve those important goals that create stronger business relationships, positive recommendations and reviews, and repeat business. The right solution needs to manage time and financial resources with automated business processes, document management, real-time analytics and mobile workflows. Your ERP should make it easy for customers, and the employees working on their behalf, to contact, communicate and get answers quickly.

Acumatica’s professional services solution integrates the following applications:

  • Customer management
  • Project accounting
  • Project cost tracking
  • Financial management
  • Employee time and expense management
  • Advanced inventory management
  • Sales order management
  • Purchase order management
  • Materials requirement planning (MRP)
  • Service and support automation
  • Deferred revenue accounting

For your customers, having these tools available provides significant added value and differentiates your firm from the competition. You’ll also reduce the total cost of ownership by consolidating the most essential business processes in one integrated solution.

Acumatica and field services

Many businesses rely heavily on field services to maintain, monitor, explore, serve or deliver to customers. With more remotely deployed employees, and the customers they serve, you need solutions that can access, collect, store, display and analyze information.

Integrating your dispatch services with other available information, reducing response times and lowering costs all have a major impact on your bottom line and customer retention.

Acumatica’s field services suite of apps works seamlessly and integrates with your sales, marketing, CRM, financial reporting, inventory, purchasing and accounting functions.

Together, these tools give you a complete, 360-degree view of customer activities, interactions and needs. Improve the overall customer experience while improving customer satisfaction scores, increase your recurring revenue opportunities and providing your customers with interactions with your brand that set you apart from your competition.

The Acumatica field services applications are web-based and mobile-friendly, giving you and your employees seamless integration of information in real time. What’s more, the field services management tools are integrated into Acumatica’s ERP, meaning there are no awkward transitions or clunky functionality as with other third-party add-on options.

Here are the major advantages to Acumatica Field Services Management:

  • Integrated scheduling, dispatching and call center. You can capture service needs quickly, access customer information, provide product history and pinpoint resources needed for fast and accurate response. Automatically create daily or weekly schedules or use drag-and-drop functions on a digital dispatch board with clear indicators of order status.
  • Use on multiple devices. The Acumatica solution works on all mobile devices with a connected browser, including Android and Apple iOS apps (for iPad). Service technicians can access service information and customer data.
  • Improve equipment maintenance. Your Acumatica solution records the history of each machine or piece of equipment at each customer site and tracks available inventory. Integrated with sales and finance, this tool tracks each step for each piece of equipment – quoting, order, delivery, installation and service work. It also tracks manufacturer, model and configuration and can automatically schedule maintenance.
  • Optimized inventory management. Your tools and equipment could be anywhere – in trucks, warehouses, garages or customer sites. Gain control and track the location of each tool, resulting in faster service, improved reordering and replenishment functions and logistics.
  • Manage service contracts and warranties. Service contracts are a valuable revenue source. Automated dashboards can alert service and sales teams of expiring contracts and coordinate appointments. Warranty management tools integrate warranties with other functions, giving you and your customers a clear indicator of timing, covered parts and services and ensures billing accuracy.
  • Track project costs. Understand the true costs of small or large installation projects, tracking the people, equipment, time, and materials used.
  • Improve collaboration. Collaboration is at the heart of ERP solutions. With field services applications, your sales, customer services and remote techs can work together to understand and resolve issues faster communicate customer concerns and gain a deeper understanding of other functions.

Acumatica and construction

Track information, understand project costs in real time and provide crucial information to requisition, purchasing and finance teams with Acumatica’s cloud construction accounting software.

This end-to-end system includes apps for project management, accounting, job costs, contracts, subcontracts, commitments, compliance and retainage. Among the major advantages are:

  • Device neutrality. Your employees will use the same software across computers, laptops, tablets or phones.
  • Integrated functionality. Modern APIs allow for seamless integration with our construction apps, including Hyphen Solutions, Procore and Smartsheet.
  • Better decisions. Once data is entered, it’s updated everywhere immediately and accessible by all users. There is a unified, single source of truth for all.
  • Improved access. Share real-time information with customers, suppliers, subcontractors or staff, including self-service dashboards, portals and reports.
  • Enhanced cost control. With more information available in the moment of need, your construction projects can have better profit margins and clearer control from estimating to close-outs.

The right Acumatica partner

NexTec works with businesses in multiple industries to improve their operations and reduce expenses with technology solutions. NexTec’s teams of consultants and technical experts bring extensive product and industry knowledge to their work.

NexTec works with our clients to identify critical business needs and select the right ERP solution that improves business outcomes. We help manage the installation, data and system migration and employee training on new ERP solutions, ensuring that there is a seamless and smooth transition that minimizes disruption.

Our extensive knowledge and expertise with Acumatica solutions provide our clients with insights to ensure that the ERP software is optimized. Learn why Acumatica is rated highest among cloud core financial suites and how NexTec can deliver great returns on your technology investment.

Take the Acumatica software tour and discover how to lower your operational costs and boost performance.

Webcast: Acumatica Cloud ERP for Professional Services (recorded webcast)

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Tech investments for small business field services

Closing the technology gap between SMBs and enterprise-sized field service businesses

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Field service businesses, big or small, face similar business pressures. However, why do small- and medium-sized businesses invest in technology differently than their enterprise counterparts? The latest report from the Aberdeen Group gives you insights into the challenges that field services businesses face and where they should invest in new technology. It examines the technology utilization gap between small and larger businesses and where companies should look to bridge that gap.

Luckily, for small businesses, they could learn from the mistakes of their enterprise counterparts. The relative affordability of field service management (FSM) software makes it easier for smaller businesses to adopt new technologies. In addition, small business might lack existing infrastructure, which could make it easier to implement FSM software, unlike an enterprise who may need to rip out their existing structure to make system changes. This gives small businesses the flexibility to start fresh and build a much smaller set of embedded technologies.

Where do small business start when choosing a new field service management system? According to Aberdeen, they should focus on solutions that benefits the customer first, and then focus on growth management. One of the first technologies they should look for is contract management – a necessity for field service companies. Document digitization, which includes digital invoices, work orders and contracts, is crucial in today’s business environment.

Once they have that in place, they should look into other technologies, such as enterprise resource planning (ERP) and customer relationship management (CRM) software. CRM software is crucial, given the complexity of customer needs. It will allow them to compete and scale their business as much as they like.

To find out more on the technologies SMB field service companies should implement for superior customer service, download the Aberdeen report today.

professional services automation

Overcoming challenges with professional services automation

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Professional services firms face a set of challenges that make it difficult to win new clients and deliver projects efficiently and effectively. A recent study from Aberdeen found that the top organizational challenges firms face today are managing changing customers expectations (47%) and poor communication and understanding of client expectations (24%). 43% of firms say a lack of available resources (skills or cash) is their top profitable project delivery challenge. The lack of access to skilled resources and rising labor costs could make it difficult to delivery on projects effectively and efficiently.

Top challenges for professional services firms

Free eBook: Develop, win and deliver more with professional services automationHow could professional services firms succeed when faced with these challenges? This free eBook from the Aberdeen Group, “Develop, Win, and Deliver More with Professional Services Automation,” will show you how top performing firms addressed these four major challenges:

  • Changing customer expectations. Your client is often the determinating factor on whether a project was successful or not, so it’s important to have expectations and agreements fully communicated. When they are not, it could affect resource utilization, timelines and costs.
  • Global/distributed teams. When you have a geographically distributed team, communication is key, both within your organization and with clients. Without this, your employees might feel disconnected from the data they need.
  • Lack of available resources. In professional services firms, your employees are the product. When resources are scarce, it makes it difficult to complete projects on time.
  • Inability to accurately predict project costs or profit potential. Without insights into past performance or having scarce resources, it makes it difficult to quote new and exisiting clients accurately.

Leaders in this space are 66% more likely to use Professional Services Automation (PSA) software to solve these issues. PSA software includes capabilities for managing and planning your projects, gaining visibility in to costs and revenue, and managing your time and expenses.

Download the free eBook, courtesy of the Aberdeen Group, to see how leading professional services firms are facing major challenges here.

ERP solution

How to manage your professional services firm wisely

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ERP solution

Automation tools allow firm executives to see progress on projects and manage costs.

For professional services firms, operational efficiency is a critical driver of profitability. How can firms today ensure that they are using their assets optimally and maximizing revenue potential?

As seen in the recent post, Achieving Agility for Professional Services in the Digital Age, new technologies are playing an integral role in how professional services firms capitalize on all the opportunities available to them. Here is a closer look at how to manage your professional services firm wisely.

Managing human capital

Human resources are the most valuable commodity for a professional services firm … and the largest cost center. Managing the human resources within the firm means focusing on utilization rates, billings per consultant and employee, and team coordination.

With the right enterprise resource planning (ERP) tool, professional services firms can maximize the human capital better. Firms can better assess the need for human capital and deliver the necessary resources required to complete an engagement.

Plan confidently, with specific skills applied to each employee, billable rates, salaries, and availability mapped. Resources can be optimized based on needs, certifications, project start and end dates, paid time off, non-billable time, and required skills.

Resource management also ensures that you are minimizing time spent on the bench or on non-billable work. Resources can be identified and retained on an as-needed basis. For firms that rely on outsourced resources, those can also be tracked, scheduled, and deployed to complement in-house teams.

ERP solution

Enterprise resource planning tools help professional services firms assign resources and manage projects.

Project tracking

Project management has many components, including budget, progress towards deliverables, timing, and resource allocation. With the right ERP solution, project tracking is a few keystrokes away, driven by automation tools that track and analyze progress.

Managers can create projects, assign resources and timelines, and track progress based on inputs from consultants, other staff members, and customers. With information readily accessible, customer expectations, issues, and concerns can be addressed head-on and proactively. Document sharing tools and communication tools keep team members well informed, aware of upcoming deadlines, necessary work, or customer issues.

Projects can be managed from the bid to invoicing. Key performance indicators, milestones, workflows, and timelines can be tracked in one location. Teams can be managed at a granular level, with subprojects assigned and monitored, with clearly defined deadlines and deliverables in place.

Budget management

When processes are automated throughout the enterprise, administrative costs will be reduced. An ERP solution brings together multiple systems and functional areas, from finance to human resources to senior management to project management.

The holistic approach to projects means there is better communication and less time spent tracking down and sharing information.

Job costing will also be more accurate with better resource allocation and cost-planning tools that account for customer-, industry-, or project-specific nuances. The result? Improved profit margins.

There will also be better budget transparency as executives will have access to sales, profits, costs, prices, and rates for in-house and third-party resources.

Automation helps professional services firms create more efficient operations that lead to better outcomes, more satisfied customers and employees, and increased revenue. At NexTec Group, we help professional services companies articulate their technology needs and identify vendors and products that will leverage the latest technological advances.

Download the NexTec Corporate Brochure to learn more about how NexTec can help accelerate efficiency at your professional services firm.

ERP solution

Unleash the power of analytics for your professional services firm

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ERP solution

Analytics help professional services firms develop deeper insights into employee utilization, project management, and client engagement.

Professional services firms that are embracing digital innovation can use analytics to gain insights to drive efficiency and better client outcomes.

As seen in the recent post, Achieving Agility for Professional Services in the Digital Age, professional services firms see the importance of meeting the growing expectations of clients for deeper insights, faster results, and more services. One way to achieve those results is by focusing on metrics that determine impact and efficacy.

Analytics draws on the massive amounts of data available, providing a deeper dive into trends, patterns, and measures that can be used to assess the business. Learn how you can unleash the power of analytics for your professional services firm by focusing on metrics related to resources, client engagement, and operations.


Firms that maximize their human resources aim to have a resource utilization rate of at least 80 percent. Talent is the most expensive part of a professional services firm, and underutilization of that talent results in lost revenue.

Here are a few key metrics that analytics tools can provide you related to employees:

  • Annual revenue per billable consultant
  • Annual revenue per employee
  • Billable utilization, which takes utilization and ties it to overall revenue and profits per employee

Predictive analytics

With aggregated data available from sales, project management, and personnel, you can use analytics tools to identify opportunities to hone particular skills, geographical or industrial sector opportunities, and talent shortages or surpluses. These insights allow for adjustments in hiring, marketing, and contracting.

Business analytics also allow the firm to forecast what the impact will be if trends persist and to create predictive models of the impact of shifts in staffing, priorities, or markets to the firm’s bottom line.

ERP solution

Data analytics offer deeper insights by integrating data from operations, sales, human resources, and finance.


Analytics allow professional services firms to dive deeper into the efficiency of their operations. Automation tools can reduce or eliminate the need for manual entry, variance analyses, and data processing in the creation of reports that measure profitability.

Business analytics also give firms more insights about days outstanding for delivered work and work in progress that can improve collections strategies and procedures, resulting in improved proficiency for cash flow and profit.

Project performance is another critical measure for any professional services company. With richer analytics tools, companies can better track profitability at the project level, identify and mitigate project overruns sooner, and flag underperformance earlier.

Client engagement

Analytics offer firms the opportunity to provide better client experiences by identifying points of value at each step of an engagement. By tracking information on client satisfaction, services purchased, and buying behavior, firms can fine-tune their sales pitches, service bundles, and delivery methods for information and insights.

An enterprise resource planning (ERP) platform can help bring together the many parts of the professional services firm. Data from operations, finance, human resources, sales, and customer engagement can be collected, analyzed, and used via an ERP solution that provides the deep insights necessary today.

Acumatica is one such product that offers professional services firms the integrated ERP solution that drives improved profits and customer satisfaction. Acumatica’s ERP comes with integrated customer management, financials, project cost tracking, service automation, and time and expense management modules. The solution allows firms to deliver excellent services efficiently while maintaining insights and controls to drive profits.

NexTec helps firms identify and implement the right ERP solution to meet your firm’s greatest needs. Contact us to learn more about how NexTec can help you select the right ERP for your professional services firm.

ERP solution

5 ways automation supports client experience in the professional services industry

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ERP solution

Automation can help professional services firms deliver better solutions and service to clients.

Automation is becoming a more persistent and necessary component of professional services organizations.

Firms that best leverage automation position themselves to improve the client experiences at each stage of interaction and drive increases in revenue. As noted in the recent post, Achieving Agility for Professional Services in the Digital Age, technologies are disrupting the way companies identify and deliver services and serve clients.

Here are five ways automation supports client experience in the professional services industry.

1. Improved productivity

Automation helps drive productivity at multiple phases of your workflow and output, including:

  • Project Management. Automation tools allow team members to collaborate more effectively, identify and manage project risks, and gain real-time insights into progress and budgets.
  • Resource Planning. Provide better staffing solutions that improve the impact of your firm’s work. Ensure that resources are maximized across projects and that in-house, contract, and remote assets can be deployed appropriately.
  • Accounting and Expense Management. Automated tools reduce the amount of paperwork for consultants, assistants, and financial staff. Automation helps create more accurate and prompt billing, tracks payments and employee expenses, and improves the timeliness of invoices and reimbursements.

2. Better customer experiences

Customers today are looking for more in-depth services and insights, delivered rapidly, and in the moment of need. Automation helps deliver on these expectations, providing high levels of customer satisfaction and retention.

Automation tools allow for consultants and partners to complete deeper research dives faster, providing business intelligence and insights customers expect.

Powerful analytics tools associated with automation solutions provide firms with the chance to complete inputs and outputs faster. They also allow for new, real-time dashboards and reports that give clients new insights into performance, outcomes, and strategies.

Automation tools also ensure that deliverables are provided on time and on budget.

3. New delivery modes

Many professional services organizations are using automation to deliver self-service options for customers unwilling or unable to pay for in-person services. Knowledge bases, online calculators, and self-selected solutions are attractive options, opening up new revenue opportunities to firms. They can also be used as a way to attract new customers who may eventually be persuaded to engage with more complete solutions.

ERP solution

Automating processes can help deliver faster solutions that dive deeper.

4. Better engaged employees

Automation may replace some work previously done by lower-level employees. However, the opportunity with automation is to help employees free up time for meaningful work with an impact on broader business objectives.

Collaboration tools help teams to work together more effectively and improve communication.

5. Better efficiency

Lag is the death knell in many organizations. Shifting orders from sales to delivery, securing and getting contracts approved and signed, and assigning resources all take time – and paperwork that can get lost in the shuffle. With enterprise resource planning (ERP) software, companies can instead take a broader view of customers and processes.

An ERP solution gives companies a way to integrate systems and data across the enterprise. Sales, finance, project management, and customer relations are integrated, with data, reports, and insights presented in real time. Employees will know the status of client relations, processes, and results in a seamless platform.

At NexTec Group, we work closely with professional services organizations to identify the right automation and ERP tools that help drive productivity and customer satisfaction. Our teams help identify the vendors and solutions that work best to achieve your goals.

Download the NexTec Corporate Brochure to learn more about how NexTec Group can help your professional services firm.