Professional services automation or PSA refers to a full-scale software suite specifically developed to assist employees in service and project-oriented businesses such as engineering services, software development, IT consulting, creative agencies, and more.
The market size of the PSA software industry is expected to grow at a CAGR of 11.7% and is predicted to reach over $16 billion by 2025. More and more companies are using PSA software as it gives them the necessary tools to track several KPIs for their business and helps them accumulate insights in a way that assists in allocating resources intelligently for increased profitability and reduced costs.
The main objective of PSA software is to churn data and offer the service professionals with real-time updates of the entire business, allowing them to scale systematically. This is primarily achieved by developing various metrics across the entire business to help professionals evaluate basic business processes.
For engineering services firms, specifically, the professional services automation software can be of immense use and is flexible enough to offer solutions to various challenges, including the security risks that exist in these organizations.
4 Ways PSA Solutions Can Help Minimize Security Risks For Engineering Services Firms
Here is how engineering services firms can tackle security risks better using PSA solutions –
1. Minimize the Cost and Risk of Running Your Own Servers
Using a good PSA software in engineering services firms translates to seamless cloud adoption that eliminates the costs associated with buying and maintaining your own servers, database software, and operating systems.
Further, it also removes the hassle of regular system updates, security threat mitigation, and patch management. Thus, empowering the engineering teams to solely focus on supporting the core business goals of their organization.
2. Data Security
PSA applications for engineering services firms ensure that all the data is protected within data centers that are certified by the highest industry standards for data security, operational reliability, and privacy control.
A well-made PSA software is designed in a way that is controlled via a common security model, giving teams centralized control of access and much higher visibility to data at a granular level.
Additionally, single sign-on enables engineering services teams to access all platform applications, reducing the risk of a security breach from managing multiple usernames/passwords.
5 Reasons Your Organization Needs a PSA Software
3. Better Performance
Leveraging a professional service automation solutions platform offers clear transparency to both service availability and performance via a real-time view of system status. It allows the engineering services firms to minimize various security risks by demonstrating a clear track record of a trusted and scalable service, supporting multiple transactions done by the users.
4. Effectively Dealing With Sensitive Information
A good PSA software allows you to implement more efficient methods for delivering project sensitive information to all your stakeholders. This leads to multiple benefits, including timely project delivery, reduced security risks, and maximized profitability at the same time.
Further, sorting out the operational side of delivery streamlines the accounting of projects and gives you real-time visibility into your costs, including earned revenue and orders. This allows you to systematically track new levels of accountability from the people charged with the delivery of your projects.
Bottom Line
With an increasing number of engineering services firms struggling to adapt to the demands of customers, your firm can capitalize on new revenue models and appropriately respond to disruptive new technologies. PSA offers an excellent solution to help professional services companies streamline operations, optimize efficiency, and attain greater profitability.
Engineering services firms can use the framework offered by the PSA system to build a predictable service-based business and minimize the security risks to a great extent. The ability of PSA software to see demand early, utilize resources optimally, and accurately track project delivery helps in creating the necessary conditions for confident forecasts. This kind of improved predictability not only leads to better decision making but also helps to build the confidence of stakeholders, including investors and senior leadership.
If you’ve been looking for a powerful, secure, and intuitive PSA software, Juntrax is a leading name that specializes in cloud-based solutions specifically for the project and service-focused organizations.
