Optimize Resource Utilization With Netsuite Professional Services Automation

By Author: Sapna Gupta
Total Articles: 38
Comment this article

If you’re struggling to gain control over projects, accurately invoice your clients or deliver more with less, then NetSuite Professional Services Automation (PSA) can help you. With Professional Services Automation (PSA) module of NetSuite OpenAir, organizations can accurately plan, track and execute projects while streamlining invoicing and billing, elevating on-time project delivery and driving profitability. With comprehensive capabilities across project management, resource management, project accounting, timesheet and expense management, billing & invoicing, NetSuite PSA software perfectly caters to needs of your growing services delivery business. As an effective and affordable Software as-a Service (Saas) suite, NetSuite Professional Service Automation Software drives down IT expenses, reduces accounting overhead, while accelerating billing cycles.

As comprehensive, cloud-based project management solution, NetSuite OpenAir for professional services automation enables project managers and team members to collaborate on projects to maintain accurate project status at all time while identifying and resolving ...
... potential issues with each engagement. NetSuite PSA delivers real-time visibility and control, enabling you to improve project completion record, making more satisfied clients while reducing non-billable work. By tracking all financial metrics of project including budgets, estimates, work in progress, bookings, invoices, billing milestones, percentage complete and costs, PSA software from Oracle improves your project delivery rate.

Key functionally of NetSuite PSA

Project Management – With comprehensive project management capabilities, NetSuite PSA helps in expanding your team's vision, recognizing the full work potential to achieve organizational goals. Managers and team members can seamlessly collaborate on projects to resolve issues in real-time. By delivering real-time access to your project information, NetSuite PSA enables stakeholders monitor and manage project status anytime, anywhere.

Resource Management – With NetSuite Resource Management module, organizations can ensure that right resources work on the right projects, based on real-time project timelines as the project evolves. NetSuite Professional Service Automation software supports multiple booking types while automating resource utilization.
Project Accounting – NetSuite PSA ensures accurate accounting and billing throughout the project lifecycle by connecting project activities with company financials. NetSuite project service automation, further, streamlines time and expense management by providing comprehensive reporting capabilities. With real-time visibility and comprehensive reporting capabilities, NetSuite PSA delivers tight control while ensuring that projects are completed on time and within budget to maximize service delivery performance and profitability. NetSuite Project Accounting gets seamlessly integrated with general ledger, accounts payable, accounts receivable, sales orders, purchase orders and inventory management.

Billing – NetSuite helps in managing revenue accurately and as per latest revenue recognition standards by connecting transactions, subscriptions and projects to billing engine. With built-in framework to centralize billing, NetSuite supports monetization models, allowing customers to be nimble, innovative and profitable in today’s marketplace.

Timesheet Management – NetSuite enables managers to quickly, easily capture detailed timesheets, enabling them to map timesheet entry and approvals as per their unique business requirements. NetSuite supports customization to time entry to meet business rules, include time for multiple projects on the same timesheet and track and submit time in bulk. Define user/project level approvals, amend approved timesheets, reject individual time entries on a timesheet and empower users to self-reject timesheets when needed.

Expense Management – NetSuite Professional Service Automation is perfect solution for billable services organization that needs comprehensive expense management. NetSuite ensures better tracking and compliance while maximizing accuracy and timeliness of expense reporting to enhance the overall experience. With NetSuite PSA, business rules can be customized while organizations can consolidate expenses from multiple projects into a single expense report.
Employees can create and submit expense reports from mobile devices.

Analytics – NetSuite comes with robust dashboards, reporting and analytical tools that delivers real-time view into services organization, enabling organizations to have clear visibility into team and project performance. Organizations can easily maximize profits and operations by monitoring projects in real-time, including resource utilization, profit margins, project budgets versus actual and more.

Sapna Gupta is a technology enthusiast who is passionate to write about ERP, netsuite implementation partners usa , cloud solutions, IoT, Crypto and much more. She believes in delivering content with a pitch that makes topics easy to understand.