Resource Allocation Software For Consulting Firms Has Fast ROI

  • Aug 22,2017
resource allocation software for consultants
It’s 3pm on Thursday afternoon and your client calls with an urgent request due the next morning. You commit to the deadline and spend the next hour scrambling to figure out who can work on this request, without jeopardizing your other projects. After a very late and stressful night at the office, your team gets the job done. Sound familiar? We’ve all been there before, but a situation like this can be prevented with resource allocation: a process for allocating resources, like budgets and staffers’ time, and planning for future work. Companies of all sizes use it to effectively manage multiple projects and staffers. Who can take on more work? Do we need to add more staffers to handle that big project coming up? Did we exceed the budget for this project? Get answers to these questions with resource allocation. Then, when your client calls, project managers can proactively explain what can get done by a specific deadline based on resources available, since they’ll have a lot of data at their fingertips—instead of reacting impulsively to frantic requests.

The Many Benefits

See how projects, budgets, and staffers fit together with resource allocation in BigTime—a new feature available for Premier users.* Think of resource allocation as an investment in your employees and client relationships because everyone benefits:
  • Project managers stay organized. No more scrambling to see who’s free to take on client requests or committing to projects that you can’t reasonably fulfill. Now you’ve got the details readily available to make important business decisions.
  • Employees are busy, and consequently, engaged because you see who’s over and under work capacity.
  • Clients are easily informed about projects and their statuses, like whether or not they’re on budget.

When to Use Resource Allocation

Resource allocation in BigTime allows you to stay on the pulse of your projects and staffers. Here are some situations when you’d use resource allocation in BigTime:
  1. Communicate with your client. A client calls and wants to update an existing project. You explain you’ve got the staff capacity make the update, but you’ll exceed your budget by fifty billable hours. Knowing this, your client decides not to go forward with the update in order to stick to the budget. However, you’re seen as a resource: informing the client of what’s possible and at what cost.
  2. Avoid unpleasant surprises. You budgeted 300 hours for a three-month project. You’re at 200 hours by the end of the first month. Be proactive and inform your client of your status and ask for more hours, instead of submitting an invoice for 600 hours at the end of the project. Not only are you seen as a resource, but you also prevent an unpleasant surprise: an invoice that’s double the budgeted amount.
  3. Plan ahead. You’ve got a big project coming up, and you need your best people on that project. Use resource allocation to make sure it’s covered, as well as other smaller projects that’ll be running concurrently.
We live in a data-driven world. With resource allocation, you can use data in a way that’s meaningful to you, profitable to your company, and useful to your clients and staff.
*Click here to learn more about Premier. Existing Pro users can get a free 14-day trial to see if resource allocation fits your business needs. To find out more about BigTime’s resource allocation, contact your sales representative or email us at [email protected].