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How the Right ERP Helps Professional Services Businesses Succeed

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Written by Laura Schomaker

October 15, 2020

While businesses in manufacturing have been quick to understand the benefits of ERP and are adopting new ERP solutions left and right, there’s one sector that has been slower to take on ERP— professional services. Businesses in the professional services industry vary widely and this diversity may be diluting the conversation around ERP. The truth is, however, that all professional services businesses share key silos that are well-served by ERP solutions, including HR and accounting. More importantly, however, every professional service business depends on two things to succeed — customer service and adherence to customer requirements, both of which can be optimized  with an ERP for professional services industry.

 

Planning and Executing Projects with ERP

In the professional services industry, one thing is key across all businesses, no matter their specialty— you deliver on time and within your client’s budget. ERP is perfectly positioned to help professional services businesses achieve this essential goal. On the accounting side, working with an ERP lets you step away from messy, cluttered, and stagnant legacy solutions such as spreadsheets. Instead, you can rely on automated and user-friendly accounting solutions that track transactions and expenses across departments. Costing and invoicing both happen more efficiently and seamlessly with automation and you’ll run into fewer errors along the way, as well.

Working with an ERP for professional services industry also enhances communication and collaboration across departments at a professional services company and provides remote access to all projects. Whether you are an attorney in court or a real estate agent out at an open house, you can still stay in contact with your team and collaborate effectively in real-time on anything that comes up when you’re out of the office. Especially for contractors and freelancers, this ability to stay on top of the latest data is essential to delivering on time and keeping customers happy.

Enhanced Customer Service for Professional Services via ERP

Many of today’s ERP solutions have. a customer relationship management (CRM) module, an essential component for many service-oriented companies. With an ERP’s CRM module, you can manage all of your contacts, generate more sales, and execute the best in customer service. Plus, with everything automated, you know that every customer file is up-to-date and that everyone at your company is using the latest and greatest information when it comes to your customers.

ERP for Professional Services Industry – An Affordable Option

Finally, there’s cost to consider as well, while manufacturing companies may live and die off efficiency, you might be thinking to yourself, “Is the cost benefit analysis of taking on ERP really worth it?” The good news is that many ERP solutions have affordable and accessible price models these days, thanks in large part to public and hybrid cloud. You can pay as you go, scale the ERP to your needs, and cast away any concerns that you may be investing too much in something you may not use. You only use what you need and only pay for what you use with the best of today’s ERP solutions for professional services businesses.

The benefits of ERP do not have to be limited to industrial or manufacturing companies and implementing ERP at your professional services firm does not need to be a cost-prohibitive endeavor. ERP can transform any professional services company, from law firm to content farm. Have you had your own experience with ERP at your company? Chime in with your story and feedback below. And if you’re still weighing your choices, don’t forget to start exploring ERP for professional services industry businesses today.

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