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  • Global Professional Service Automation (PSA) Software Market By Application (Technology Companies, Marketing & Communication, Consulting Firms), Deployment Model (Cloud-based, On-premise), and Regional Market Size, Status and Forecast to 2025

    (I-SoftwareNews.Com, March 19, 2018 ) Global Professional Service Automation (PSA) Software Market By Application (Technology Companies, Marketing & Communication, Consulting Firms), Deployment Model (Cloud-based, On-premise), and Regional Market Size, Status and Forecast to 2025

    The Global Professional Service Automation (PSA) Software Market was valued at USD 7.41 billion in 2016 and is projected to reach USD 17.80 billion by 2025, growing at a CAGR of 10.23% from 2017 to 2025.

    Professional services automation (PSA) is a software product designed to assist professionals, such as IT consultants, auditors, lawyers, and others, with resource management and project management for client projects. Core functions of PSA include automated time & billing, project management capabilities, invoice management, resource allocation, expense management, and others. It also offers powerful and consistent reports and dashboards, which provide management key information to make insightful decisions.

    Key players operating in the global professional services automation (PSA) software market include Microsoft Corporation, Projector PSA, Inc., NetSuite OpenAir, Oracle, Appirio, Changepoint Corporation, ConnectWise, Inc., FinancialForce.com, Tenrox, and Autotask Corporation.

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    Moreover, growth in need to improve operational efficiency among professional service firms is expected to propel the market growth. However, shortage of knowledgeable and experienced resources and robust market environments hinders this growth.In addition, owing to increase in complexity, need for automating these tasks is expected to rise, thus posing a challenge of maintaining throughput, business quality, and effectiveness. Furthermore, continuous rising popularity of PSA software due to its numerous benefits in terms of flexibility, reduced infrastructure development costs, disaster recovery, and increased collaboration present major opportunities for this market.

    The global professional services automation (PSA) software market is segmented on the basis of deployment type and applications. Deployment types covered in this study include on-premise and cloud. On the basis of application, the market is categorized into consulting firms, marketing & communication, technology companies, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

    Access More Details at http://www.kminsights.com/reports/global-professional-service-automation--psa--software-market-by-application--technology-companies--marketing---communication--consulting-firms---deployment-model--cloud-based--on-premise---and-regional-market-size--status-and-forecast-to-2025-169691

    Professional services companies are currently faced with challenges such as robust market environments, shortage of knowledgeable and experienced resources, spin-offs from mergers and

    acquisitions, and an increasingly sophisticated clientele. At the same time, decision makers and top executives are becoming increasingly aware of the benefits of PSA solutions and their role in making companies more competitive and profitable. These are the major factors driving the global professional service automation market.

    The key components of a typical PSA system include resource planning and forecasting, project management, time and billing management, knowledge management, communication management, opportunity and lead tracking, employee time and expense entry and processing, financial accounting, human resource management, and proposal automation.

    Some of the major end users of the global professional service automation market are IT service companies, design and planning companies, architecture and engineering firms, accounting companies, management consulting firms, research organizations, and government contractors.

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