Our Feature Product

in Financial, Distribution and Field Services is Microsoft Dynamics GP (formerly Great Plains). Dynamics GP delivers comprehensive out-of-the-box business management functionality, from financials and human resource management to manufacturing and more. It connects the many moving parts of your organization, giving you better visibility into and control over what’s going on in your business. Read more.

Professional Services

Challenges

In the Professional Services industry, the need for consistency and sufficiency is undeniable. By speeding up the efficiency of the services, companies can spend more time and resources exploring new business opportunities. Tracking expenses, billing customers, managing customer activities, and keeping your team focused may be difficult. But more importantly, there is an increasing need for companies to take a proactive approach to risk management and problem solving.

  • The need for quick and easy access to time and expense transactions for employees.
  • Ability to share information and knowledge amongst employees for better understanding of the client’s needs and activities with the company.
  • Deal with demanding customers and increasing pressures regarding price.
  • Correct measurement of true profitability and recognition of revenues.
  • The need for reduced numbers of billing cycle times due to the many inventory issues and employee related expenses.
  • Ensuring the executives are able to recognize performance, utilization, and profitability to better manage the organization and allocate resources accordingly.

Solutions

See some of the business issues that a business management solution can help professional services companies address.

Project Planning and Scheduling

It's important to structure projects so they reflect the best practices of your firm, make sense to your prospect, and ensure efficient use of resources. It's equally important that you collect resource and cost information and use it in your reporting. Critical path schedules help ensure the highest priority work gets done, and portfolio management capabilities help consulting firms identify trends and focus on the most critical projects.

Project Tracking

The ability of team members to share knowledge helps make projects run smoothly. A business software system that allows people to manage, track, and report on activities, even from distant locations, makes processes more efficient. Automatic alerts, automated workflows, and access to real-time, business-critical project data make for an efficient process. The right system can also help you get your customers to manage their part of the project effectively.

Time and Expense Collection

Regular, complete, and accurate time and expense entry is essential for regular billing and cash-flow management. For fixed price contracts, it's essential that time and expenses be tracked against work scope completed so profitability can be monitored and ensured early on. Web-based time and expense entry systems for employees make the process easy on the consultants—regardless of where they are located. This should include full data validation, automated approval workflow, comprehensive reporting (including detailed audit trails), and integration and reconciliation with billing and payroll systems.

Project Accounting and Financial Management

Real-time views of detailed financial data helps increase project profitability. It helps you track the work breakdown structure from initial budget through project closure, without waiting for accounting periods to close. It also helps you manage fiscal performance every step of the way. The system helps you to forecast outcomes. It helps you monitor trends, predict the impact of changes, and track estimates at completion and forecasts at completion, in addition to the original budget.

A business software system can help you generate invoices periodically or on demand based on time and material, fixed price, lump sum, percent complete, or another contractually agreed method. You can encourage quick client approval by customizing invoices to meet customer requirements. You can also provide your own customer service personnel with instant access to invoice information. The ability to drill down to underlying details helps your personnel answer customers' questions about their bills.

Support and Maintenance Contracts

Service agreements can be a major source of revenue, but managing them well is still a challenge. A business software system can help you manage important information about your customers, their software, and their equipment, and quickly access their service history. It also helps you manage changes in contract equipment, report new charges at any point in the contract term, revise prices, and instantly determine whether the change will be a profitable one for your bottom line. When a support case is resolved, relevant contract information is updated automatically. Finally, it should help you identify contracts that are up for renewal and viewing the previous contract's profitability. This, in turn, helps you make sure your annual annuities grow.

Case Study

Case Studies in Professional Services

Take a look at some of our clients and hear their story. You'll read their challenges and the solution that Youngland built with the client's business goals at the heart of the service.

    This biotechnological company specializes in comprehensive DNA testing services and is based in Washington State. The company is experiencing a period of rapid and sustained growth and seeking additional corporate partners, investors and employees. The company implemented Great Plains to facilitate the needs of the growing company but was having trouble leveraging its full values. Specifically, the company seeks to raise Customer support to the highest level and improve operation by improving upon sales insensitive programs. Read more...

At Youngland, customer satisfaction is highly prioritized because we firmly believe that taking care of customers takes care of business. Our staff is dedicated to bring you exceptional care and support. With this as our business model, we are dedicated in providing our customers with the best services because their satisfaction is our reward.

If you are interested in knowing more, please take a look at our SWITCH! Program that offers the product with FREE assessment and discount.

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