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2007 - ERP in the Professional Services Sector

Item Name: 2007 - ERP in the Professional Services Sector
Item Number: SPI200707
Price: $295



Abstract

Professional services organizations (PSOs) increased their adoption rates of Enterprise Resource Planning (ERP) solutions with the goal of increased operational visibility, greater financial transparency and higher productivity — driving their ability to compete” states R. David Hofferberth, P.E., Managing Director of Service Performance Insight and the principal author of a newly released report.

ERP gives PSOs tools that enable them to optimize three core areas of their organization — their people, processes, and capital, and benefits every department in the organization. In the past these organizations considered ERP as merely a financial management system. ERP has evolved with integration to other core PSO business solutions that include:

  • Client Relationship Management (CRM),

  • Human Capital Management (HCM),

  • Project & Service Delivery,

  • Procurement and

  • Business Intelligence (BI).

These applications help organizations make better decisions going forward. Across every division, PSOs will benefit from ERP’s integration and automation, which will provide the necessary infrastructure to keep firms structured and in control. ERP will grow in the Professional Services sector at a much faster pace than research showed just five years ago.

The report examines business solutions that answer key concerns professional services executives have:

  • Why should ERP be adopted rather than integrate “best-of-breed” solutions?

  • How can ERP improve key performance indicators throughout all areas of their business?

  • How will ERP lower the cost of deploying and maintaining their application infrastructure?

The report highlights the growing trend and movement toward the adoption of ERP solutions. It reveals that the term ERP has moved beyond just core financials to encompass many of the other applications necessary to build a world-class professional services organization and increase both productivity and profitability.