Professional Services organizations and top 3 ways for businesses to excellence in 2022

Dynamics 365 paired with Power BI helps get a clear picture of the business’s current stance and increase sales, project plans and resource utilization.

As the horizon of the business world changes dynamically, it has been particularly hard on Professional Services companies when it all comes down to keep their doors open. 2022 has a fresh set of challenges that can become potential threats to Professional Service businesses similar to software publishers, consulting firms, and system integrators.

These challenges, fortunately, have solutions and professional services organizations across the globe are trying to harness this and rise to the top again.

Challenges that professional services firms commonly face:

1. Billable hours – To log billable hours is an important part of the revenue that organizations generate. When they are not logged it reflects negatively on the company. To make sure that employees have sufficient billable hours is also something that has been a common struggle.
2. Hire and train – To find suitable candidates to fill company seats doesn’t just stop there, they must be internally trained which occupies a lot of non-billable time and resources.
3. New clients – To keep old clients engaged and simultaneously looking for new clients can certainly overwhelm at times.

Load technology into place

One of the best decisions some of the Professional Services organizations have made was to lean on technology to streamline their business processes which in turn increased their efficiency. Employee satisfaction was a visible outcome with the elimination of monotonous manual processes.

No being able to track billable hours has got to be one of the biggest reasons an organization turns out to be inefficient. Dynamics 365 can be altered to match the needs of Professional Services organizations with a robust time-entry UI and keyboard shortcuts for easy entry and assignment of projects.

Time entry in Dynamics 365 is completely flexible, time entry can happen from anywhere and from any device. The cherry on top is that Dynamics 365 allows faster turnaround processes with automated workflows and expense reports.

Stable control over revenue

Budget maintenance, monitor revenue and cash flow are generally complex while being managed, Dynamics 365 helps simplify this.

• Streamlined project financials with accuracy of revenue recognition
• Customized invoices help improve review speed which ensures better cash flow
• High accuracy project accounting by apply accounting rules to calculate revenue, accruals and other fields that adhere to the company.
• Release payments when the customer does, which means, pay the vendors only when customers release payment funds either partially or fully
• Contract renewal automation and flexible pricing

Better Decisions with Advanced Business Intelligence

To make choices and decisions that benefit the likes of business goals, it is stresses importance to know the current state of the business. Dynamics 365 paired with Power BI helps get a clear picture of the business’s current stance and increase sales, project plans and resource utilization.

Dynamics 365 can only help connect with the right prospects at the right time. Intelligent pipeline management and Machine Learning to guide businesses to great opportunities. Power BI visualizes information in a crisp and clear manner with drill down options for more information from multiple sources.

Is a Dynamics 365 Implementation in the cards?

If a Dynamics 365 implementation is in your company’s cards, find an implementation partner who can help your company and stay mindful of business goals.

DemandDynamics is a Microsoft Gold partner with a team of flexible and experienced experts who can provide the best solution that suit your business goals. With on-demand services, you only have to pay for the services used and for the time consumed.

Jump on a call with one of our experts, who can help you get more information!