Professional Services Industry
We resell, implement, extend, customize, integrate and support business solutions in the form of cloud services as well as consult with and advise our clients on how to optimize a solution that best fits their business situation, including streamlining business processes. Therefore, we are a professional services firm, so we deeply understand the accounting software needs of companies like yours in the professional services industry.
As a professional services firm with extensive operational, technology and management consulting experience, we fully understand how to implement business solutions – cloud services – and improve business processes. Therefore with InCloud360, you can trust you will get a solution tailored to fit your business needs.
Below are some examples of the key challenges we solve for our clients:
- Broader Insight Across your Business – Want the ability to report revenue and cost by project, customer, location, across business units and even by consultant? Perhaps even more dimensions? Even if you have multiple lines of different types of businesses in addition to professional services? This is achieved by configuring the core functionality of project accounting within the financial management system; without the need for spreadsheets or developing script within the system. And, the data will be displayed live on dashboards, reports, and KPI reports with trends available to finance and others within the organization.
- Proper planning leading to meeting customer and financial commitments – Having difficulty forecasting project revenue & expense because sales & operations lack the information to forecast delivery of future projects? Concerned that this inability can lead to missed commitments and lower customer satisfaction, not to mention revenue leakage or higher project expense? Utilize core project accounting functionality within the financial management solution integrated with Sales force.com; now you have visibility to plan resource utilization and management so the right consultants are on the project at the right time in order to meet customer promises and your financial plans.
- Project Billing Detail Inefficiencies– Do you desire more than a summary journal entry for project billing in your accounting system for reasons such as forecasting and reporting? Perhaps your customers need invoice detail, are you then manually printing reports and attaching them to paper customer invoices? Are you reporting project information and then having to create many complex spreadsheets to consolidate with financial reports (if at all) to get the desired operational/financial visibility? Very easily done – without manual processes, spreadsheets and paper – with an integrated financial management solution from InCloud360.
- Project Expenses – Do you have separate manual processes for billable and non-billable expenses as well as time collection? InCloud360 can provide an integrated mobile time & expense tracking solution to help manage time-based projects and travel expenses while integrating with finance and accounting as well as your payroll, travel management or credit card provider.
- Different Bill Rates – We can provide a solution that allows you to assign different bill rates by role or consultant by project while the consultant is assigned to multiple active projects?
- Compliance – Complex projects spanning many months that have retained billing or progress billing may need the revenue recognized over the entire period of the project. Revenue management within the financial management solution will resolve this issue as well as properly forecast project revenue.
- Efficiency – Reduce data errors and staff cost by eliminating dual data entry by integrating finance and accounting with CRM and PSA solutions such as Salesforce.com and KeyedIn.
- Scalability with Growth – Currently working with one of the most popular entry level accounting systems (QuickBooks or Peachtree) but you really need to move on to a professional solution for all of the right reasons such as not impeding company growth? A solution from InCloud360 can scale from start-up to hundreds of millions in revenue while having the flexibility to meet your needs as you grow.
Are you ready to find out how we can help you? Get Started Today!