“Did you send that offer?” and “How far into a project are you?” are two of the most frequently asked questions during online calls in the past two years, as more and more people started working remotely. Getting lost in all the tasks and processes was one of the big challenges people faced in their work life. These challenges further showcased the already existing need for automation of some of the processes. But how can this happen?
The answer will be given on March 29th by Next Consult during a special event – The #1 Cloud ERP for Professional Services. The business soiree will help startups, scaleups, and enterprises learn why more and more companies started implementing systems that help make work more efficient. Ivo Kumanov, CEO of NIK Electronics, a fast-growing precision agriculture company, will join as a guest speaker and talk about his personal experience and the benefits and advantages of using professional services automation (PSA) software.
The organizers will also demonstrate how FinancialForce’s solutions automate tasks that usually require a great amount of manual labor like project management, contract billing, and revenue recognition. During the demo, the attendees will get hands-on experience on how the systems work in real-time and some very interesting tips & tricks for working with the platform.
“These processes are quite time-consuming if they have to be performed manually or by the functionalities the standard ERP systems provide. On top of the saved time not only from the administrative but also from much more expensive consulting staff, automation of project management, contract billing, and revenue recognition, highly improve accuracy and timing of the financial flows, like billability and collection, which results in improved cash flow and financial margins”, shares Ivo Dreshkov, Partner, Operations at Next Consult.
The benefits of Professional Services Automation
The synergy of managing all three very important processes has been enabled through FinancialForce’s solution. It allows the management of people, projects, customers and financials – all in a single application. Dreshkov points out the importance of professional services automation (PSA) in transforming project management: “The PSA allows for completing all project management activities like offering, initial project budgeting, and budget tracking, quote generation, resource estimation and allocation, project and capacity planning, and time and expense tracking”, highlights Ivo Dreshkov. The effect of using FinancialForce’s system is shown by Salesforce itself as the global tech leader shares that it accelerated its project management activities by 10 times.
The system also helps in improving the communication between different departments and teams, as it offers visibility on the sales pipeline to build a better connection between sales teams and service providers. As FinancialForce’s system is cloud-based, it’s highly scalable and doesn’t require a large initial investment to be deployed. Dreshkov points to the software’s licensing method as another positive feature. The use of user/month metric allows for customers to pay when they use the platform and spend additional resources when the app is not in use.
This method also gives the opportunity to decision-makers to have a unified source of information, that allows them to make better strategic decisions for the future of any business. This happens through the method that is used to gather data. As everything is put into the same platform, there is no need to use additional software for these operations, everything is gathered in the same place and in the same format. This offers the possibility to have a unified source of information, on which basis decisions are made.
Dive into FinancialForce
FinancialForce delivers its PSA and ERP solutions to dozens of organizations around the globe. It helps companies in various industries such as Healthcare & Life Sciences, Software & IT Services, Consultancy, and many more. Amongst its list of clients are Hewlett-Packard, RedHat, Splunk and many more.
If you want to know how it can help your business grow, you are invited to a business soiree on Mar 29, 2022, where you can learn that and lots more. Ivo Dreshkov, as well as Orlin Dochev, Managing Partner at Next Consult and Ivo Kumanov, will give a complete overview of the way FinancialForce helps its customers.
You can book your free ticket here: https://bit.ly/next-consult-financial-force