Exploit the value of historical project data
Posted by Sebastian Reichmann
It's an exciting time in technology innovation for professional services firms and project teams. As David Hofferberth from SPI Research says:
“The need for professional services firms to plan and execute projects flawlessly has never been more critical. Forecasting if a project will be successful at the bidding stage is key to success, but not something most firms do successfully. SPI Research is starting to see new enterprise solutions utilizing new analytics capabilities that will help firms qualify opportunities better. It's an interesting time for the sector.”
Today we announced another solution that turns Unit4’s vision of self-driving enterprise software into reality, where advanced analytics are used to minimize the effort to complete complex tasks. We've extended our Business World Professional Services Automation (PSA) solution to enable project intensive organizations to boost their competitive advantage and optimize their average margin across their project portfolio.
We are enabling project teams to exploit the value of historical project data to create competitive advantage and margin improvements by combining predictive analytics with an intelligent user experience and process automation elements. The inherent benefits are summed up in an article published by diginomica.com this week titled 'The self-driving future of professional services project plans.'
Among the reasons many firms do not conduct project forecasts today is that they are often time-consuming and complex. New integrated solutions can speed the process and reduce the complexity significantly. Combined with predictive analytics they can add an additional element of foresight to the picture. As a result, project managers will be more likely to submit project forecasts on a regular basis, and firms will have a clearer picture of project performance and risk.