Time Intelligence Optimizes Professional Services Profitability

In most professional service organizations, the largest operating expense is typically employee time – upwards of 80%. Every moment of an organization’s resources’ time – whether it’s project time, overhead time, billable, or non-billable – is intertwined with the outcomes produced.

With stakes that high, it’s important to know exactly how that time is being spent. Taking control of all company time is the key to uncovering true services profitability, but many organizations rely on incomplete data from siloed systems, and ultimately reach incorrect conclusions about their profitability. This process of failing to account for all time, and consequently all expenses, creates and perpetuates the Profitability Myth.

Replicon’s Time Intelligence platform 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.

We based our platform around five key pillars fundamental to professional services organizations: service delivery management, financial management, current utilization, growth management, and project accounting. These concepts help streamline the services workflow, stop revenue leakage, and facilitate company growth.

This release greatly expands on the industry-leading financial management and service delivery capabilities of Replicon’s PSA Powered by Time Intelligence, enhancing existing workflows to simplify collaboration between teams.

Want to hear more on boosting your PSO’s project profitability? Join our webinar to learn first-hand how Replicon enables PSOs to manage key metrics around service delivery, resource utilization, and financial performance to plan for and manage their growth.

 

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Vivek Gopalpuria
ABOUT THE AUTHOR
Vivek Gopalpuria
Vivek is the Associate Director of Product Marketing at Replicon. Replicon provides award-winning products that make it easy to manage your workforce. With complete solution sets for client billing, project costing, and time and attendance management, Replicon enables the capture, administration, and optimization of your most underutilized and important asset: time.