Ramco Services Resource Planning (SRP) - ERP on Cloud for Professional Services Providers
Services Resource Planning (SRP) is an integrated cloud-based solution that caters to the entire engagement life cycle of a Professional Services Organization (PSO), which typically extends over:
- Contact to Contract (C2C): Starting with lead generation, field activity planning, funnel management, RFP and quote through to account management support, the solution provides comprehensive coverage for the field force of a Professional Services Organization.
- Execution to Billing (E2B): This pertains to the entire cycle for execution of a contract/SOW up till invoicing the client. It includes project delivery management, resource assignment, timesheet and milestone management, expense reporting and invoice & billing.
- Quote to Cash (Q2C): From the point of estimation for a proposal through the life cycle of an assignment, maintaining clear, real-time visibility and control on the financial performance of a project is of utmost importance. The solution provides the financial controller with the tools required to achieve just that. It covers revenue recognition, project budgeting and profitability. It also supports multi-currency, multi-company, transfer pricing & consolidation.
- Requisition to Release (R2R): Resources are at the heart of operations for Professional Services organizations. Starting with workforce capacity planning that is glued in with the recruitment process, the solution covers the complete Human Capital Management process. This comes with a payroll engine that incorporates rules of 48 countries.
- Revenue recognition as per IFRS and GAAP
- Global payroll engine with support for 48 countries
- Multiple currency, multiple company with global consolidation
- Connected workforce – Mobile- enabled SRP
- Ultra-cool, context-aware UI for easy data entry
- Workforce planning across pipeline and real assignments linked with recruitment
Ramco SRP has key functionalities built specifically for various industry segments like:
Being a resource-centric industry, workforce management plays a key role in staffing companies. Strong fundamentals are in place for processes such as
- Associate onboarding for clients
- Workflows for Attendance & Timesheet booking/approvals
- Running large volume multi-site, multi-client payrolls
All this, integrated with invoicing of the clients is required and SRP emerges as the backbone for all staffing company processes. This includes the flexibility and variations required for recruitment & selection, onboarding and resource deployment and a transparent client billing process from Time/Attendance approval through payroll till invoicing. Benefits to the company include:
- Quick response and turnaround time for client staffing demands
- In-time payroll and invoice processing, even when clients have distributed operations and a very large employee base
- Maintaining high service levels and transparency in dealing with clients as well as associates
This industry is project-centric, making project management very essential for its success. SRP supports milestone-based, T&M based as well as Capped T&M based projects. In addition, it also helps in comprehensive project tracking by integrating with MS Project and Primavera. SRP seamlessly integrates elements of Project Management, Workforce Management and Finance Control into an easy-to-use application. Benefits to the company include:
- On-time, on-budget completion of projects
- Improved resource utilization
- Complete and real-time visibility on project profitability at organization, division, site and resource levels
SRP provides an integrated platform for process- centric consulting companies where timesheet entry, invoice generation and billing are all inter-linked to one another. This reduces data redundancy and manual data entry into excel spreadsheets. As a result, there is improvement in resource productivity. Benefits to the company include:
- Pipeline tracking and cost estimation
- Resource availability based on skills, experience, role, etc.
- Timely revenue recognition achieved through timesheet and invoice consolidation