REDWOOD CITY, California – April 26, 2016 – Replicon, the leading provider of time asset management soluti…
Advanced PSA Solution Provides Unified System of Record for Time, Increasing Visibility and Control Over Projects, People, and Profitability
REDWOOD CITY, Calif. and LAS VEGAS, Oct. 15, 2018 /PRNewswire/ – Replicon, the Time Intelligence Company, is showcasing its comprehensive Professional Services Automation (PSA) solution this week at the Technology & Services World Conference in Las Vegas, at The Aria Resort. This agile, mobile-ready solution, built on Replicon’s Time Intelligence Platform, provides professional services businesses with a time-focused system of record to manage key metrics and drive their profitability to the next level. The solution ensures that all business process needs are met with advanced configurability, eliminating the need for expensive customization or manual processes. With the ability to standardize metrics across departments, enhance past, present, and future resource utilization, and unify fragmented systems, Replicon’s PSA solution is set to transform the services industry.
Busting the “Profitability Myth”
Visibility into 100% of a company’s time is the key to uncovering true services profitability, but many professional services organizations rely on incomplete data from siloed systems and ultimately reach incorrect conclusions about how profitable they really are. Failing to account for all time, and consequently, all expenses, creates and perpetuates the Profitability Myth – a myth driven by inconsistent metrics. By combining a complete view of resource time with a configurable framework for an organization’s unique workflows, Replicon’s professional services automation solution busts the Profitability Myth once and for all, enabling better collaboration across departments and providing a single source of truth for time across the business.
“Services businesses are beginning to realize that they need a centralized system of record to base their metrics on, and they need a unified platform capable of meeting their unique professional services workflows,” says Scott Bales, VP of Solutions Engineering and Implementation at Replicon. “This is where Replicon’s Time Intelligence Platform delivers. By providing a single source of truth – time – businesses get the holistic view they need to be confident in their data and profitability metrics.”
Advanced Resource Forecasting Maximizes Utilization
Many services organizations do not fully take into account historical resource utilization data, despite its value as a key lever in achieving profitability. Equally misguided are those discounting the importance of the reverse: accurate resource forecasting. Without these practices, project resources end up consistently over and under-utilized over time, leaving money on the table. The professional services market is dynamic, and effectively managing a PSO requires staying in control of these dynamics. Replicon’s solution helps companies accurately forecast their resource utilization needs based on their service delivery pipelines, and manage their bench capacity. With advanced forecasting, businesses can learn from the past, optimize the present, and plan for the future.
Unified Platform Supports All Professional Services Needs
Today, companies see service delivery as a separate entity from resourcing, billing, invoicing, revenue recognition, and other functions – when in reality everything is an interconnected system. Each business function managing services delivery differently makes collaboration difficult, and ultimately interferes with achieving profitability. With Replicon’s entire solution delivering a unified system of record, project managers, consultants, billing, and finance teams can collaborate seamlessly.
The service delivery platform is based on a powerful business process engine and frameworks with templates to manage the end-to-end lifecycle of a project or program – no need to change service delivery processes to conform to a chosen project management solution.
Planning and Resource Management
Replicon’s PSA solution helps organizations leverage historical information to decide on the best clients and projects, forecast the resources and skills needed, price effectively, and set them up for true profitability by getting the most out of their resources.
Real-Time Project Accounting
Project accounting capabilities assist in monitoring the financial health of projects to achieve real-time visibility into key metrics such as budgets, estimates, costs, margins, WIP, billing, bookings, and more.
Replicon’s Billing Management enables end-to-end visibility and alignment across an organization’s entire billing workflow, from contracts to billing and invoicing. It supports the creation and execution of simple or complex billing contracts, validating exceptions, and making adjustments without resorting to manual processes.
Replicon’s Revenue Recognition capabilities empower PSO’s to easily configure how and when to recognize revenue from their operations. Industry standards ASC 606 and IFRS 15 are supported out of the box.
Media Contact: Dan Capawana
Resound Marketing for Replicon
(609) 279-0050 x109