Professional Service Automation (PSA) software comes across as one of the solutions to improve operational visibility and process efficiency in service- and process- driven organizations. The ever-changing business models of enterprises are expected to drive the PSA software market in the upcoming period.
PSA software’s core functions are inclusive of automated time & billing, resource management, and project management. This software also makes way for powerful and consistent dashboards and reports that pass on key information needed for making informed decisions. The other benefits include enhanced forecasting capacity, lessened leakage of revenue, and enhanced customer satisfaction. These advantages are expected to catalyze the market in the near future.
Small- and medium-scale enterprises do depend on spreadsheets for capturing expense, time, and managing resources. With availability of PSA, these enterprises are expected to drive this market further. As such, overall expenditure on the part of administration would get reduced to a greater extent.
North America rules the roost; followed by Europe. This could be attributed to the fact that these economies do comprise principal share of immediate adoption of technological advancements. The other reason is presence of major players in these regions. Asia Pacific is expected to grow at the fastest pace in the near future. This is due to “Startup India” initiative by the existing government of India; wherein people could rope in PSA software due to monetary support.
The players contributing to the market include Tenroxare, Projector PSA, NetSuite OpenAir, Microsoft Corporation, FinancialForce.com, ConnectWise, ChangePoint, and Appirio, Inc. The other players are inclusive of Deltek, Inc.; Panview, Oracle, Clarizen, Compuware Corporation, and Autotask Corporation. Inorganic as well as organic growth is being emphasized on. For instance – in Dec 2015, Upland Software came up with its new edition of Tenrox PSA software for empowering Upland customers with respect to track time and expense. In Nov 2015, the same Upland Software partnered with Dell Boomi for letting customers integrate multiple cloud products. Same time around, DragonEye Consulting LLC partnered with Cordia Partners and Unanet for delivering outsourced business functions to the project-driven firms.