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Maximize the Profitability of Engagements
Services organizations looking to improve financial performance often focus on building the sales pipeline and maximizing resource utilization. While these critical drivers of financial performance are essential, another key consideration for services firms, the effectiveness of an organization's business processes, is often overlooked.
Inefficient business processes and ineffective supporting systems have a direct impact on performance in a variety of ways. Many services organizations have attempted to manage operations using data gathered from time sheets, Excel, financial applications, project management software, etc. Management often lacks access to an accurate, current view of business performance, and struggles further still to achieve accurate projections of revenue and resource demand. Billable time and expense can easily be lost through systems that rely on manual data entry from spreadsheets or time sheets into financial systems for invoicing, resulting in long billing periods.
To successfully manage performance, organizations need to develop processes and adopt systems that provide comprehensive business management from the initial opportunity with a client through to the invoicing and revenue recognition processes.
Changepoint PSA automates and integrates core business processes, enabling services organizations to reduce administrative overhead, maximize the effectiveness of resource allocation, increase billable hours, eliminate lost time and expenses, while tracking corporate knowledge within a single, integrated system.
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