PSA/Project Management Modules Flashcards
List the ten modules of PSA Software?
Billing & Invoicing Core Accounting CRM Document Management Human Capital Managment Project Accounting Project Managment Reporting/Analytics Resourse Managment Time and Expense Tracking
What is Professional Services (PSA)?
Software designed for organizations in the professional services industry. This combines the often separate systems and tools for time tracking, project management, resource management, invoice processing, and business intelligence into one service automation platform. PSA solutions help professional services firms improve business results and project performance by combining these capabilities into a single application.
Industries that may need PSA software
Consultants, architects, engineer, lawyers, financial advisors, accountants.
What is Project Accounting?
Tracks total costs on specific projects. (50% of PSA leads will want Project Management and Project Accounting)
What is the main difference between ERP and PSA?
ERP is product based while PSA is typically service based.
True or False: PSA is ERP
False. PSA is a type of ERP that specializes in service based organizations
What is the differenct between Core and Project Acocunting?
Core accounting handles all of the companies general accounting needs while project accounts handles individual projects that the company is working on. Managed consulting firms can handle thousands of projects and project accounting these unigue needs including scheduling projects, employees, implementing budgets project costs, etc
Why is time and expenses tracking important for PSA?
PSA sell their employees time. Tracking this time is vital for organizations to
Whats the difference between PSA and project management
PM is a submodule of PSA. PSA is more holistic managing most of the business operations while project management focuses of managing their projects.
True or False: If a buyer needs accounting, it is a PSA lead not Project Management.
True: Accounting is the biggest indication that the organization is looking for a more comprehensive PSA system rather then just Project Management.
What must we ask on a project management lead?
What type of projects are you managing? Vendors tailor their products to specific projects. Some organizations need project management outside of Professional Services. A manufacturer could need a project management system.
What is PPM?
Project Portfolio Management. Give organization a holistic view of all an organizations projects. Important for organizations that handle a large amount of projects.
