Accounting software for professional services

Professional services software helps manage daily business operations and customer relationships, including resource and project management, time tracking, as well as accounting for professional services like expense tracking, billing and invoicing, reporting, analytics, and more. The ultimate goal is to optimize client experience rather than spending time filling out spreadsheet cells.

Professional services management and accounting software can be a powerful tool for any service organization that delivers billable work. PSA accounting software is also ideal for growing enterprises that want to automate their processes. Companies in a range of industries use professional services management and accounting software, such as marketing and communications, information technology, medical and healthcare, legal services, customer service, educational services, and much more.

Professional Service Automation (PSA) software is a tool designed to serve service organizations, such as IT consulting, technology services, and many other service providers. PSA software is a specific subset of professional services software, and it includes features related to the front of the project life cycle, such as proposals, estimates, and forecasting, as well as resource management, time and expense tracking, vendor management, and project billing. Depending on the complexity of your firm's resource management needs, you can either use the built-in resource management features or Sage Intacct PSA.

PSA software can help maximize resource efficiency, improve communication between project delivery teams, accounting, and clients, and provide real-time visibility into project performance. With an AI-powered PSA solution like Sage Intacct PSA, project managers can efficiently manage current and future resourcing needs across teams or their entire organization. Its intelligent system can automatically help optimize resource utilization and forecast future demands, anticipate and help address project challenges early on, safeguarding project timelines and budgets.

Sage Intacct is a comprehensive financial management system with tailor made features for project-based businesses. Over 1.5 million projects have run on Sage Intacct. We work with companies that have financial management needs that range from simple cost tracking to detailed project task cost allocation and complex billing requirements. Our cloud-based system is centered on a high-powered general ledger that provides dimension level tracking for all of your transactions. What that means is you can significantly reduce the number of GL accounts you use, while also significantly expanding the way you report on your data. With automation of processes related to project costing, vendor management and accounts payable, project billing, time and expense tracking, and resource management, Sage Intacct can allow your finance team to focus on strategy instead of administrative process.

Many service-based businesses constantly face revenue leakage, low utilization, and strained project profit. Accurate and complete time entry is a major contributing factor to these struggles. Sage Intelligent Time is the only AI-powered time entry system built into a full-featured ERP system. Sage Intelligent Time provides each member of your team with an AI-powered time assistant that provides suggested time entry cards based on that employee's calendar, email, and other activity. Using machine learning, the Time Assistant gets smarter and continuously improves the speed and accuracy of your teams' timesheets.

Sage Intelligent Time has the solution to an age-old problem for service-based businesses. Artificial intelligence and machine learning provide a tangible tool for your team to receive continuous and trusted insights regarding their time. With this insight, your project managers can make better decisions, your project pricing is more accurate, and your invoicing and closing processes are faster than ever.

For many growing professional service companies, the billing process is too labor intensive to scale. Billing for professional services can be complex depending on the various elements that you need to include on your invoice. Sage Intacct is built to handle even the most complex invoicing requirements, as well as the variety of revenue recognition methods that can be associated with them. Automation around time entry, expenses, purchase orders, vendors, and all the other components required for billing, are instantly available for your team to easily draft and issue invoices, helping you scale your business without being held back by cumbersome processes.

When it comes to financial reporting, automation, accuracy, and customization are critical requirements for an effective solution. Sage software's financial reporting excels at all three. By leveraging the general ledger's dimensions, reports can be grouped and sorted in a nearly unlimited way. Financial reporting done right can provide the insight your financial team needs to go from being burdened with administrative tasks to focusing on strategic planning. Whether you're creating multiple profit and loss reports, or automating project reports for your project managers, Sage can handle what you need.