80%Of operating expenses
Resources time accounts for nearly 80% of operating expenses in professional services organizations.
Resource time accounts for nearly 80% of operating expenses in professional services organizations. When this time data can’t be connected, shared, or assimilated from disparate systems, it is easy make incorrect conclusions about profitability based on partial data. Failing to account for all time – and consequently all expenses – creates and perpetuates the Profitability Myth.
Replicon’s Time Intelligence Platform provides a time-focused system of record for professional services organizations. This way, they are provided comprehensive information on their current and future projects, profitability, resource utilization, and cash flow through tracking and tying project and billable time to outcomes produced. They get the whole picture.
Our solution busts the Profitability Myth by combining a complete view of resource time and availability with a configurable framework that supports an organization’s unique business workflows. This builds a time-focused system of record based on the way individual organizations work, rather than forcing them to adapt to a solution-dictated process. Replicon’s Time Intelligence Platform supports the five key pillars every professional services organization should implement:
Replicon’s service delivery platform is based on a powerful business process modelling engine and frameworks with templates to manage end-to-end lifecycle of a project or programs. Project or Program Managers are able to define and orchestrate their unique service delivery workflow processes along with managing for financial performances such as budget, estimates, costs, resource allocation, skills, chargeability, and utilization. Given the entire solution is built on a system of work done, Project Managers, Consultants, Billing, and Finance teams can collaborate on the singe source of truth instead of relying on multiple versions of it with Excel floating around. This solution offers dashboards and reports for productivity, utilization, WIP, project profitability, etc. to enable quick decision making based on real-time data.
Replicon’s Business software solutions provide financial workflows, insights, and control on professional services delivery for various personas within the organization:
Resource costs account for 80% of any professional services delivery project or program. Being able to set productivity targets and measuring resource utilization is a critical need to run a profitable service delivery business. Replicon’s business software solution has comprehensive features to set productivity targets at individual resource levels. It can easily collate individual, group, company, or project level productivity and utilization, drive performance and productivity, and effectively utilize resources by measuring them against those targets. It can then communicate that data in real time for enhanced service delivery.
Replicon’s solution not only helps companies keep track of their current utilization to help run profitable deliveries,. but it also helps companies forecast their resource utilization needs based on service delivery pipelines and manage the bench capacity. This combination ensured that resource costs and overhead are efficiently managed.
Replicon’s Business Operations solution provides project accounting capabilities to monitor the financial health of projects. Project Managers and Finance teams can gain full visibility into their projects’ financial health in real-time and monitor controls – budgets, estimates, costs, margins, WIP, billings, bookings etc. With the ability to track business objectives and outcomes at project level, Project Managers and Finance teams can collaborate to manage billing issues upstream before they percolate downstream resulting in unhappy customers.