Current PSA solutions have been over-promising and under-delivering for years. They view the professional services delivery with a narrow lens, focusing heavily on project management and completely ignoring the financial controls and visibility needed to run a profitable business. With a rigid process flow, definitions, and an illusion of control on service delivery, PSA solutions have been unable to meet businesses’ financial goals. They are unable to help companies achieve effective utilization, profitability, margins, and revenue recognition disciplines needed to be compliant with accounting regulations. PSA solutions have been focussing on different workgroups rather than aligning the entire organization on a single source of truth for work done. Businesses need a platform that can be modeled around their needs without being straightjacketed by current PSA solutions.
Replicon’s vision is to provide a framework for professional services businesses to configure and orchestrate their unique business workflows rather than adapting to a particular solution dictated processes. Replicon takes a holistic approach to run a profitable and successful services organization. Replicon’s Business Operations Software, built on Time Intelligence Platform, is a predictive and authoritative global time data repository. Replicon’s solutions deliver on key financial pillars that help professional services grow quickly – Service Delivery Management, Financial Management, Current Utilization, Future Utilization, and Project Accounting.
Replicon’s service delivery platform is based on a powerful business process modelling engine and frameworks with templates to manage end-to-end lifecycle of a project or programs. Project or Program Managers are able to define and orchestrate their unique service delivery workflow processes along with managing for financial performances such as budget, estimates, costs, resource allocation, skills, chargeability, and utilization. Given the entire solution is built on a system of work done, Project Managers, Consultants, Billing, and Finance teams can collaborate on the singe source of truth instead of relying on multiple versions of it with Excel floating around. This solution offers dashboards and reports for productivity, utilization, WIP, project profitability, etc. to enable quick decision making based on real-time data.
Replicon’s Business software solutions provide financial workflows, insights, and control on professional services delivery for various personas within the organization:
Resource costs account for 80% of any professional services delivery project or program. Being able to set productivity targets and measuring resource utilization is a critical need to run a profitable service delivery business. Replicon’s business software solution has comprehensive features to set productivity targets at individual resource levels. It can easily collate individual, group, company, or project level productivity and utilization, drive performance and productivity, and effectively utilize resources by measuring them against those targets. It can then communicate that data in real time for enhanced service delivery.
Replicon’s solution not only helps companies keep track of their current utilization to help run profitable deliveries,. but it also helps companies forecast their resource utilization needs based on service delivery pipelines and manage the bench capacity. This combination ensured that resource costs and overhead are efficiently managed.
Replicon’s Business Operations solution provides project accounting capabilities to monitor the financial health of projects. Project Managers and Finance teams can gain full visibility into their projects’ financial health in real-time and monitor controls – budgets, estimates, costs, margins, WIP, billings, bookings etc. With the ability to track business objectives and outcomes at project level, Project Managers and Finance teams can collaborate to manage billing issues upstream before they percolate downstream resulting in unhappy customers.