Is Infor a Good ERP for Professional Services?

When it comes to Enterprise Resource Planning (ERP) solutions, professional services firms face unique challenges. From project management and resource planning to client billing and compliance tracking, the right ERP system can make or break operational efficiency. One of the contenders in this space is Infor – a global software company offering industry-specific ERP solutions. But the question remains: Is Infor a good ERP for professional services? Let’s take a closer look.

Understanding the Needs of Professional Services Firms

Before evaluating Infor’s ERP capabilities, it’s essential to understand what professional services firms truly need from an ERP system. These companies—ranging from consulting and legal firms to marketing agencies and engineering firms—operate in a people-centric, project-driven model. Their success hinges on:

• Efficient project and resource management

• Accurate time and expense tracking

• Client-centric billing and financials

• Real-time reporting and analytics

• Scalability and flexibility for growth

Traditional ERP systems often focus on manufacturing or supply chain management, which doesn’t always align with the fluid, client-focused operations of service-based businesses.

What Is Infor ERP?

Infor ERP is a suite of enterprise applications tailored for specific industries. While Infor is best known for its manufacturing and distribution solutions, it also offers tailored capabilities for service industries through products like Infor CloudSuite™ Professional Services.

Infor’s cloud-first, industry-specific approach is designed to streamline operations, increase visibility, and improve decision-making – all of which are crucial for professional services firms.

Key Features of Infor for Professional Services

Infor CloudSuite Professional Services is specifically built for project-based firms. Here are some of its standout features:

1. Project Lifecycle Management

From opportunity identification through project execution and close-out, Infor enables end-to-end visibility. This ensures that project managers have the tools they need to keep projects on time and within budget.

2. Resource Planning and Utilization

Infor offers advanced tools for assigning the right people to the right tasks based on skills, availability, and project needs. This not only improves resource utilization but also boosts employee satisfaction and client outcomes.

3. Time and Expense Tracking

Mobile-friendly time and expense reporting simplifies data capture and ensures accurate client billing. Integrated workflows help speed up approvals and reimbursements.

4. Financial Management

Infor provides real-time financial insights, budgeting tools, and integrated billing functionality. This allows for seamless quote-to-cash processes and improved financial forecasting.

5. Analytics and Reporting

Infor’s built-in business intelligence tools help firms monitor KPIs, track performance across projects, and make data-driven decisions.

6. Cloud-Based and Scalable

Infor CloudSuite is built on AWS, offering a secure, scalable, and globally available platform. This makes it easier for growing firms to expand operations or support remote teams.

Pros of Using Infor for Professional Services

• Industry-specific features tailored to project-based businesses

• Cloud-first architecture reduces IT overhead and improves accessibility

• Strong financial and project integration for accurate billing and forecasting

• Highly customizable to match unique workflows and compliance needs

• Global capabilities for firms with international clients or offices

Potential Drawbacks

• Complexity: Infor’s broad capabilities may result in a steep learning curve for smaller firms.

• Implementation Costs: Like many ERP systems, implementation and customization can be costly upfront.

• Limited market recognition in the professional services sector compared to other ERPs like NetSuite or Deltek.

How Does Infor Compare to Competitors?

When comparing Infor for professional services to other ERP options like NetSuite, Deltek, or SAP Business ByDesign, it often comes down to the firm’s size, specialization, and technical requirements.

• Deltek is widely used in government contracting and architecture/engineering.

• NetSuite is strong in general professional services and is known for rapid deployment.

• SAP Business ByDesign caters to mid-sized firms with global needs.

Infor’s strength lies in its industry specificity and deep integration capabilities, which can be a great advantage for firms that need tailored functionality without building everything from scratch.

Is Infor Right for Your Firm?

Infor is a solid ERP option for professional services firms that:

• Operate in a project-based environment

• Require robust resource and financial management

• Need real-time visibility into project and business performance

• Are looking for a scalable, cloud-based solution

• Have the resources to support a complex ERP deployment

However, smaller firms or those with limited IT resources might find the implementation and customization overwhelming.

Final Verdict

Infor for professional services offers a robust, cloud-based ERP solution tailored to the needs of project-based firms. With its comprehensive features and industry focus, it stands as a competitive option in the ERP space. However, as with any ERP decision, it’s critical to assess your firm’s size, complexity, and long-term growth strategy to ensure the best fit. To find out more about Infor you can visit this link.

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By carefully evaluating your requirements and conducting thorough vendor assessments, you can identify the ERP software best for professional services that will not only streamline your processes but also position your company for future success.