Professional Services

Our systems can track profitability at a granular level for an accurate view of revenue generated at project and engagement levels. Meanwhile, customizable dashboards reveal underperforming clients or projects so you can take steps to mitigate the damage immediately. Data generated enhances strategic decision-making to increase growth and client retention.

Yes. Our advanced software supports several billing models, including hourly rates, fixed fees, and retainers, and makes a clear distinction between billable and non-billable time. We know how important time is for accurate billing, so our time tracking tools automatically link entries to the correct billing accounts.

Our financial experts configure dynamic cost allocations rules (revenue, headcount, hours, etc.) within your ERP. The accuracy ensures you know the exact value of costs, providing the insight necessary to make informed decisions regarding pricing, hiring, and expansion. Accuracy in shared costs also plays a role in internal performance reviews for improved financial reporting.

Sage Intacct uses a modular system, giving you the flexibility you need to add new services and locations, and adapt your billing models without any disruption or delays. Standardization ensures consistency in reporting and the smooth integration of workflows and dashboards. Your business might change, but your systems remain aligned with your operations.

Typically, the most important financial reports for professional services include profitability, revenue forecasts, cash flow visibility, shared cost allocation, and monthly close and performance dashboards. These reports deliver insights into the financial performance of projects, services, and even employees. You can make informed decisions regarding resource allocation and business growth strategies.

Our solutions are designed to improve efficiency without increasing demands on your software or your staff. This is fairly easily achieved by tracking revenue, cost, and margin by project, service, and client. It provides one view (single source of truth) your managers can trust. No clunky spreadsheets required.

Time tracking is pretty important because it ties entries to phases and contracts. This clearly shows billable vs. non-billable hours.

We track shared cost allocations according to agreed upon rules. You can see the real cost of service delivery across teams or locations.

Tracking billing that matches contract types (hourly or fixed fee) ensures there are fewer write offs and fewer late invoices.

All this data is included in drillable dashboards and goes to show where money is earned or lost. Real-time updates ensure you get the data in time to take decisive action during the month. No waiting until the end of the month when it could be too late.

There are many important metrics. You must decide which matter most to your business, however, metrics typically reviewed include:

• Revenue-related data, including billed revenue, revenue per billable employee, and revenue per billable hour. It’s a focused data set that clearly explains movement.
• Aged WIP (work in progress) and AR (accounts receivable). This highlights delays, enabling you plan follow ups with context and not hunches.
• Variance views. A particularly important metric that shows where estimates and actuals drift. Once the difference is clear, you can adjust pricing or scope to bring them back together.
• Project pipeline data linked to capacity. This is important because you can avoid over commitment and minimize the risk of late delivery.

It’s always a good idea to distribute a stable weekly pack of metrics to leaders and managers. Meetings are shorter and decisions are supported by actual data.

One of the first things we do is assign role-based permissions and clear approvals. The aim is to lessen the number of corrections and significantly reduce back and forth messages and long email chains.

We standardize templates for phases and tasks, which reduces the admin required to set up projects and ensures better consistency across teams.

Friction can be reduced by integrating time tools, CRM, and ERP. Entries automatically flow to invoices and the ledger.

Scheduled invoicing that matches milestones or months is great for removing friction because it also reduces the end-of-period crunch.

Time and billing processes can be streamlined by keeping evidence and notes with the project concerned. This provides for easier audits and faster dispute resolution. It also keeps the taxman happy because audit trails should answer any queries the IRS has.

Ideally, you want agile, flexible systems that scale with your firm. That’s exactly what we provide, starting with our modular design that enables you to easily add new services, locations, and pricing. No rebuilds necessary.

Connecting CRM, billing, time, and finance creates a single narrative that flows from sale to cash. This increases visibility and reduces blind spots.

You want standardized, scalable reports, as well as utilization and margin definitions that remain stable even as your headcount rises. We duly deliver.

Clear ownership for data and metrics is essential, as are integrations and automation that ensure updates are entered once and flow throughout the rest of your systems.

We always, always maintain post-live partnerships to fine tune processes that might have one or two sticking points once real life intrudes. This can include removing recurring blockers and anything else necessary to maintain team confidence.