9 March 2020 | 2 minutes of reading time
Is your business active in the B2B service sector? Do you run your projects for a fixed price, on a cost-plus basis, or on a hourly rate, or on a subscription basis? Do you feel the need to gain more insights in the profitability of those projects and their employees? Are you already using software for your work-hours administration?
The accountant helps you with the book-keeping, and the business expert with the business processes and the choice of which business software to use. Similarly, that i-spark helps to gain insight in your profitability and revenues, by extracting the information present in such packages, and to translate it into a clear dashboard. Not so much from an accounting perspective, but more aimed at operational management. Our experience and that of our customers is that this is often largely neglected in this type of software.
With these insights you can keep track of the business processes, such that you can intervene in time in case of risk. Or even better, you can scale up more quickly when you notice a positive trend.
Example: Your target is a revenue increase of 20%. Do you hire more people, accept more billable projects with the same people, better estimate the fixed price of your projects, or maybe change your prices?
Insight in the average percentage of your billable hours, the average hourly rate, and the average amount of hours per project could help you to make well informed choices. And maybe it is logical to first remove that one deviating project before running the numbers. Or maybe you first want to classify your employees into teams and calculate the averages per team. These are all cases which are not always shown clearly in the software. Luckily, they are relatively simple to arrange, and we are happy to help.
Something that can play a role is the preservation of old data. Many business software show the current status. This means, if you have recorded your hours on project X last week, but removed this now, then you are often not able to retrieve this data anymore. That is alright from a project management perspective, yet it is unfortunate in some situations. For example if you want to gain more insight in the changes in the planning. Or if it is important, from an audit trail perspective, when running a report over a specific period to see the same results, and not numbers that keep changing because of retroactive effect mutations.
By now we have experience with diverse standard and custom made solutions, like Simplicate and Harvest. We primarily target the data component, or in other words: How can we extract the data from your system, analyse this, and report/visualize this in a dashboard in a way that you can benefit from this.
Read here how we helped Hans from KAW with a simplicate dashboard.