SAP Business One ERP for Professional Services
SAP Business One ERP for Professional Services Industry
Professional Services which involves IT/ITeS/BPO, consulting or staffing face tough competition as the number of firms under this industry is ever-growing. Therefore, Companies must strive hard to stay ahead of their competitors by trying to expand. Here, SAP Business One ERP plays a major role by streamlining all the business operations making the company profitable. It mainly involves workforce management, project management as well as financial management. Below are the tasks handled by the ERP with respect to this industry.
To manage right from contact to contract
SAP B1 ERP helps in lead management, contract management (MSA-Master Service Agreement), recording the contract terms and conditions as well as managing the work orders (SOW- Statement of work).
To Manage the entire contract execution cycle
The whole process cycle can be handled which involves Project definition, Project execution, Timesheet management, Milestone management as well as project expense management.
To manage Project Quotation and Cashflow
You can easily track right from the beginning stage of the contract i.e., the estimation for proposal and the financial performance until the end of the contract which involves Revenue Recognition, Project Budgeting, project Revenue, and Profitability.
Workforce Management
Workforce plays the main role in Professional Services firms. Thus, SAP Business ERP enables human resource management which helps in project-based resource allocation as well as the release of resources from existing projects.
