NetSuite for Consulting Firms
Increase Billable Hours and Profitability with Integrated ERP and Professional Services Automation (PSA)
As a consultant, you constantly face the challenge of optimizing the alignment of your staff while profitably delivering projects on time. On top of this, your practice has many non-billable administrative tasks like resource management, invoicing and business planning. While important, these tasks equate to lost revenue or foregone personal time. With NetSuite, you can minimize administrative tasks for your consulting firm while gaining valuable insights to improve realization rates, project profitability and client satisfaction.
Learn more about NetSuite ERP and NetSuite OpenAir, our professional services automation (PSA) solution. Or learn about a specific feature—Project Management, Resource Management, Time Tracking, Expense Tracking, Reporting/Dashboards and Invoicing.
- Optimize staffing: With projects constantly in flux, allocating the best skilled resources to the right projects while minimizing bench time is critical. NetSuite's resource management software lets you identify resources with needed skills (e.g. domain knowledge, language) and address potential bottlenecks before they become a problem. With complete visibility, you can accurately forecast staffing needs and increase utilization for your consulting firm while not burning out your most valuable people.
- Manage project profitability: Dashboards let you compare billed to budgeted time, monitor status in real time and proactively identify potential overruns. Benchmark a proposed project against a similar completed engagement to generate a reliable quote, and conduct "what-if" planning to optimize billing and margins. With NetSuite's ERP system, project-based accounting is easy. Look across your consulting firm's projects to identify engagements that are selling well or teams that have delivered a project type more profitably than others.
- Improve collaboration: NetSuite's collaboration platform enables your consultants to capture and share important documents and intellectual property among team members, regardless of their location, so they can benefit from each other's experiences. With the turnover many firms face, NetSuite also allows you to retain institutional knowledge and assure clients there won't be disruptions.
- Automate time and expense tasks: NetSuite provides online, offline, and mobile access, so you can take a picture of a cab receipt and submit it before you even reach a client meeting. With automated approval rules specific to your business, you can ensure T&E reports are processed quickly, with only the amount of intervention you desire. With our easy capture and routing and ERP financial system integration, you can also ensure appropriate expenses hit client invoices quickly too.
- Implement quickly globally: With the ability to customize software to mirror the structure and processes of your consulting practice, with our cloud offering that eliminates the need to install and maintain software, you can implement state-of-the-art services resource planning (SRP) in about half the time as an on-premise solution. If your clients or consultants span the globe, NetSuite is available over 17 languages and downloads daily exchange rates to enable currency conversion. Compliance with country-specific taxes is also readily handled. And with our mobile functionality, anyone can access the system anywhere at any time.
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