Many of our blog posts discuss ERP Guru's cloud-based solutions, their functionalities, and other trending topics. That’s a lot of information to take-in and we realize that blog readers sometime need a break. That’s why ERP Guru is introducing “Coffee Talk,” a six-part blog series dedicated to informing while staying informal! “Coffee Talk” focuses on the software needs of specific industry verticals in casual terms anyone (no matter their department and know-how) can understand. This week’s industry is services. Let’s talk!
What is a service-based business?
At first, the answer might appear obvious: service-based businesses provide a service. This answer is partly true, but it is also partly false. Service-based business don’t provide services per se, but the manpower and hours necessary to complete projects that later become services. Take engineering firms, for example. Most are described as “service-based companies,” but what they really are is enterprises who rent-out engineers by the hour to complete projects.
How can service-based businesses appropriately coordinate the amount of manpower they need to complete any given project(s)?
Again, the answer seems obvious: Professional Services Automation (PSA) systems. These provide visibility and control over project resources. Any PSA system worth its salt can deliver service-based business’ project managers and resource managers with the information necessary to accurately plan, track and execute projects according to their employees’ skills and schedule. Seems like a dream come true, right? Wrong. PSA systems may make project-related information visible and malleable, but they hardly make life easier when they can’t be integrated with users’ other business management software. Imagine having to manually drag every project-related cost, bill, or invoice to your ERP system. What a pain!
Aren’t there any unified PSA solutions?
With NetSuite’s Services Resource Planning (SRP) solution, service-based businesses don’t have to worry about their PSA system not automatically integrating with their ERP solution! NetSuite SRP encompasses easy-to-use features that provide the same services as a traditional server based PSA system. In addition, because SRP is part of NetSuite’s line of cloud-based business managements solutions, it automatically integrates all information within NetSuite’s ERP to ensure each of your projects are not only completed on-time and on-budget, but also that all their information is rapidly integrated within the rest of your company’s business processes.
Here’s how NetSuite SRP works. First, SRP compiles employees’ knowledge, skills, and availabilities into Netsuite so that the information necessary to schedule billable work time can be easily retrieved and organized, guaranteeing that every resource is used to its full potential. Second, NetSuite SRP generates accurate invoicing and billing documents. These allow users to correctly recognize revenue opportunities and fix-price projects, allowing finance and project managers to better communicate while reducing stress before year-end audits! Finally, NetSuite SRP integrates all necessary information with NetSuite ERP, giving users the advantages of a PSA system without the hassle of manually integrating information with other business-related software. Talk about project management made easy!
What can ERP Guru do for you?
ERP Guru recognizes the struggles associated with adequately coordinating service-based businesses’ manpower, billing, and software. In fact, we fully relate with this difficulty because we too are a service-based enterprise. NetSuite SRP has helped our team of gurus complete clients’ projects according to their schedules and budgets and, in doing so, has allowed us to maintain our status as top cloud-solution provider! We would love to share NetSuite’s SRP solution with service-based businesses interested in improving their practices. Contact one of ERP Guru’s representatives today and find out how easy managing a service-based business can be!
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Author: Dominique Frechette