Some key challenges that professional services organisations must consider include:
1. Consumer awareness
Customer wants tracking of services. If a service industry does not provide tracking services, the customer may not want to do business with them. ERPNext helps in providing the service industry with updated information on various parameters that will help them while dealing with their customers.
2. Financial challenges
Many service industries make financial decisions that cause them to fail before their first anniversary. ERPNext Project Budgeting and Budgeting features help prioritize cash flow for business and projects. Budget feature helps in monitoring company and project profit margin
3. Centralization
Service industries typically use spreadsheets, which are time-consuming, manual, and provide disparate and scattered information on different desktops. ERPNext centralizes all departments. It provides real time data and it also saves reporting and entry time.
ERPNext addresses customer needs and operations, which increases company efficiency. .
4. Customer Acquisition
Retaining existing customers and finding new ones is one of the biggest challenges for service industries.
ERPNext provides complete visibility into customer satisfaction, performance analysis, and project implementation, execution and delivery, all in one place. It helps in identifying the best opportunities and converting them into clients.
5 Maximising billable hours and resource utilization
In service industry every employee’s number of billable hours is directly correlated to the profitability of the business. In services industry, there are high chances that your employees’ days are filled with meetings with customers and conference calls.
ERPNext provide timesheet feature which help to track all activity of employee and it can share to customer also.
ERPNext provide feature convert billable hour into invoice,
