Mavenlink, the leading provider of cloud-based software purpose-built for professional services organizations, announced the Mavenlink Industry Cloud for Professional Services. Created specifically for professional services organizations and marketing agencies, the Mavenlink Industry Cloud for Professional Services addresses long-standing functionality gaps in non purpose-built work management applications and legacy professional services automation (PSA) software.
Industry-leading professional services organizations demand modern resource management tools
Resource Management Tools Solve Critical Issues, a commissioned study conducted by Forrester Consulting on behalf of Mavenlink, uncovered that increased customer satisfaction and revenue growth are two of the top benefits of adding resource management and planning tools to a services organization’s tech stack. Given these benefits, 50% of professional services organizations surveyed indicated plans to invest in purpose-built resource management technology, far exceeding investment intent in other business software categories such as HCM (26%) and ERP (28%).
Services leaders historically addressed core work and resource management needs with a collection of generalized applications and business processes. Now, new dynamics and pressures — such as shorter and more demanding engagements, geographically distributed teams, diverse and hard-to-find skillsets, growing reliance on external resources, and tighter margins — are reshaping professional services strategies, operational processes, and technology requirements. In this environment, professional services organizations recognize that existing resource management processes and tools are no longer adequate and are embracing purpose-built technology to enable and support competitive advantage and superior client and financial outcomes.
In response to this need, Mavenlink has introduced a comprehensive vision for perfecting resource management within professional services, called Dynamic Resource Optimization (DRO). The processes and technology enabling DRO are focused on optimizing project staffing across project portfolios of any size and scale, while leveraging any combination of internal and external resource pools. By leveraging DRO, professional services organizations can more easily scale, deliver superior client outcomes, and realize greater revenue and profits.
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Mavenlink provides a path to Dynamic Resource Optimization with its Industry Cloud for Professional Services, a purpose-built platform for professional services designed to elevate operational performance and predictability, optimize resources across complex project portfolios and organizational structures, and uncover operational insights needed to make smart business decisions.
“The Mavenlink Industry Cloud for Professional Services helps services organizations break free from the constraints of antiquated Professional Services Automation applications that are impeding their success in a networked economy,” said Ray Grainger, co-founder and CEO, Mavenlink. “With Mavenlink’s purpose-built technology and deep domain expertise, professional services organizations can achieve competitive advantage through superior operational performance, resource leverage, client satisfaction, and financial results.”
The Mavenlink Industry Cloud for Professional Services is a powerful collection of operational management, resource optimization, business intelligence, integration and workflow automation functionality that enables professional services organizations to overcome persistent operational, client, and financial constraints. Mavenlink has developed novel capabilities to address critical professional services needs in the areas of project portfolio staffing, managed access to external talent networks, and long-term scenario planning to align supply and demand.
- Mavenlink Optimizer is a powerful resource optimization toolset that leverages operations management science, advanced algorithms, and analytics to overcome previously intractable resource management and planning challenges. Organizations can determine optimal staffing combinations for large portfolios of projects requiring diverse skill sets, across multiple geographics, for varying time periods. Using the same capabilities, services leaders can implement sophisticated scenario planning to evaluate how to best balance supply and demand, resourcing strategies, and the implications for project delivery, revenue realization, and profit margins.
- Mavenlink Private Networks addresses critical resource gaps and constraints that can hamper project performance, impact client satisfaction, and constrain growth and margins by extending the application of Mavenlink’s resource optimization capabilities to a vast pool of external talent, while considering the full breadth of resource characteristics that define best fit. Mavenlink Private Networks is another way Mavenlink is helping professional services firms achieve the optimal workforce of the future.
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