Whether your professional services organization operates in the healthcare, manufacturing, retail, or distribution industry sectors, finding a solution that simplifies core business processes is integral to your success.
The solution? Workday Professional Services Automation.
What Does PSA Mean in Business?
Professional Services Automation, or PSA, involves automating, managing, and optimizing core business processes through a software system or application. PSA software not only helps project teams complete tasks in a more organized and timely manner, but it also helps integrate planning, project management, resource management, and project accounting in one place to maximize investments for service organizations.
Automating your professional and business services enables your company to…
- Manage and track day-to-day tasks and operations more efficiently
- Optimize use of resources by allocating resources according to project needs, tracking spending and use habits, and dedicating funds to specific business units
- Use data-driven analytics and insights to improve productivity and engagement for employees
- Leverage a bird’s-eye view of business operations to optimize individual-level projects, manage multiple projects at once, and fill staffing needs more efficiently
- Improve project delivery timelines, employee productivity, and customer satisfaction
- Integrate with internal modules and applications and external billing systems to improve visibility and connectivity across the board
What is Workday Professional Services Automation?
Workday Professional Services Automation (PSA) is a tool designed to help companies manage the entire lifecycle of their client-facing billable projects, improve knowledge transfer between employees and business units, enhance productivity and process efficiency, and maximize value for customers.
Workday PSA software also leverages data-driven workflow management functionality, including robust resource management, reporting, and analysis capabilities, to simplify administrative operations and optimize service delivery for customers. The solution also provides the flexibility needed to withstand changes in your project needs and across your industry as a whole.
Main Advantages of the Workday PSA Solution
1) Human Capital Management
- Recruit, hire, and retain talent more efficiently by using advanced talent analytics and functional Human Resources initiatives
- Find people with the right skills, experience, and expertise to meet project needs
- Leverage workforce planning and analytics and built-in integrations to improve visibility and align functionality to project and personnel needs
2) Financial Management
- Leverage advanced project forecasting and budgeting capabilities to predict project costs, compare to potential revenue, and update costing as worker roles evolve
- Align Financial Management capabilities with evolving revenue recognition standards (i.e., ASC 606/IFRS 15)
- Manage, review, and approve transactions customer invoices, and revenues at the transaction level
- Use extensive financial data to accurately analyze profitability, margins, cost, and revenues in a single system
- Leverage integrations with Workday Time Tracking to track billable time for projects and project activities and enter and approve project timelines
3) Project Execution
- Integrate with internal applications and CRM software (i.e., Salesforce) to improve collaboration, connectivity, and visibility across sales and delivery teams
- Reduce overhead costs for back-office operations
- Assign and organize project roles and responsibilities to ensure the right people are placed in the right roles to meet project needs
- Use intelligent resource management software to match talent to the right projects and fill staffing needs more efficiently
4) Reporting and Analytics
- Leverage advanced analysis functions to improve decision-making processes
- Assess costing, profitability reporting, utilization metrics and other data analytics
- Gain a more comprehensive view of your project status with comprehensive data insights and in-depth reports
Using Workday PSA Healthcare Solutions
With ever-changing project and industry needs, healthcare organizations can leverage Workday Professional Services Automation software to empower medical providers with the tools needed to manage patient-facing services more efficiently and optimize everyday operations.
With Workday PSA, healthcare organizations can not only balance workloads more fairly and efficiently across business units to reduce burnout, but they can also automate administrative tasks, leverage deeper insights to improve the quality of care, improve clinician engagement and retention and optimize project management functions to help facilities operate more efficiently and effectively.
How Can We Help?
Our team of senior-level Workday consultants has the technical skills, functional expertise, and real-world experience needed to lead you to success, regardless of the size, scale, or scope of your project needs.
Getting Started with Us
Your technology. Your priorities. Our expertise.
That’s the name of the game with our team at Surety Systems.
Contact us today to learn more or get started with our top-notch Workday consultants!