BigTime has worked with professional service firms for over a decade, many of them in the Architectural and Engineering industries. In all that time, the most common concerns that keep our customers up at night are these 3 questions:
- How do I know I’m getting the most out of my resources?
- How do I know if I’m charging the right fee?
- How do I make more money without charging more?
The 3 pressing concerns that our customers tell us about, are the same 3 reasons why you should make time to attend the webinar, Real-Time Business Tracking and Reporting. The webinar will place these industry concerns into a broader context, and point the way to a smart, scalable, and affordable solution. Here’s the bottom line. If you face similar challenges, this webinar on real-time tracking and reporting is fundamental to your economic success.
1. HOW DO I KNOW I’M GETTING THE MOST OUT OF MY RESOURCES?
Your resources (people) walk out the door at the end of the day. Your people also pack up your inventory (knowledge) when they go. The truth is, you can’t really know if you’re getting the most out of your staff (your utilization rate) unless you are tracking their time. How can a timesheet be a powerful instrument of insight? Because the timesheets is a powerful instrument of insight into getting the most out of a resource; being able to track your staff’s capacity and the time they’ve actually worked will give you insight as to if they are doing as much billable work as we you expect from them.
In a recent article for accountingweb.com, BigTime CEO Brian Saunders explained how the cloud transforms time tracking into something even more valuable. “These firms, [those with online practice management], with very little added effort on their part, now have more than just an online repository of timesheets, invoices and notes. They have a goldmine of data on how their firms perform … .”
2. HOW DO I KNOW IF I’M CHARGING THE RIGHT FEE?
The webinar also addresses the what-to-charge question. Put simply, in order to know if you’re charging the right fee, you need to know how much a project costs and how much you are paying employees to complete the project. You’ll learn how project tracking with real-time visibility into staff time, project estimate vs actual, percent complete billing, and more can help you establish benchmark pricing and continue to maximize your fee structure.
As BigTime Chairman John Howell put it in a recent Huffington Post article, “The more information that is available, the smarter we get in running professional services companies. These [cloud-based] systems ultimately can act as brilliant business advisers. It would be like having an MIT genius who mines your data and serves up data-driven metrics and insights; a genius who costs you practically nothing but is instrumental to your company’s success.”
3. HOW DO I MAKE MORE MONEY WITHOUT CHARGING MORE?
Addressing the third most common concern expressed by our customers, the webinar covers the pitfalls of manual reporting and the ensuing lack of visibility into how to increase profitability. In the webinar, you’ll learn how statistically-driven, real-time project-level reporting can provide the insight essential to increasing your profit margin without increasing fees.
If you want to be more profitable, but the lack of real-time visibility into your projects is keeping you up at night, join us. Now is the right time to see how real-time tracking and reporting can contribute to the economic success of your firm – and a better night’s sleep.
Call (312) 346-4646 or email [email protected] if you have any questions.