A crucial part of your journey to selecting and implementing a PSA system into your business is the definition of your functional requirements. To help with this process we have defined seven key stages of growth and outlined functional capabilities required at each stage. First, identify your stage of growth and then use our Capability Map as a functional checklist.
Stages of growth
The diagram below illustrates the key stages companies go through from incorporation to a multinational corporation. Not all companies get there and not all stages are discrete, however, in general, this is the journey to success most businesses strive for:
control perspective
The table below summarises the control system needs of each stage. Once you’ve decided which stage best reflects where you are in your own journey, use this grid to checkout your own control solution sophistication and confirm that you are on track for further growth:
Capability Map
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Capability/Stage
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1
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2
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3
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4
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5
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6
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7
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Finance
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Basic Accounts
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Deferred Revenue Control
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Contract Management
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Central Product Pricing
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Purchase Orders
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Consolidated MIS
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Multi-currency Accounts
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Client Master Data
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Multi-entity Accounts
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Sales
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Basic CRM
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Pipeline Reporting
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Quote/Order Management
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Target Reporting
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Campaign Management
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Revenue Recognition
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Reseller Management
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Multi-tenant CRM
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Global Reporting
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Operations
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Billable Only Recording
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R&D Claim
Back-up |
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Incident Management
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Expenses
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All Time Recording
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Project Budgeting
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Formal Billing
Control |
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Support Time
Tracking |
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WIP Accounting
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Inter-company Sales
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Capability Legend
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No capability
required |
Essential to support growth
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Useful but not essential
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Control gap impeding growth
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Getting the control environment right and fit for purpose is a key aspect of running a successful technology business and making the most of the growth opportunities presented by the products you sell. If you are missing control solutions for the processes above, this is a gap that should be addressed at the earliest opportunity.
Harmony is designed to deliver all the capabilities listed above, in one simple integrated solution. With Harmony, you will never need to replace your control environment, it will grow with you and support all aspects of your journey. For more information about how Harmony can help support your growth get in touch and we will give you a free personalised demo.
About the Author: Harmony Business Systems Ltd (HBS) is the company behind HarmonyPSA, the most complete cloud PSA software on the market. Developed with functionality to cater for even the most complex needs of MSPs, VARs, ISVs and Professional Services organisations, HarmonyPSA truly is the next generation of PSA systems. HBS is an independent company based in the UK. Follow HarmonyPSA on Twitter or LinkedIn