Consultancy Services – Is Managing Chargeable Hours A Non-Chargeable Headache?
The Impact of Poorly Managing Chargeable Hours
What pains do consultancy services endure? Well, for example, being able to quickly analyse and track details of Projects/Contracts for; degree of completion, profitability, resource utilisation rates, etc. is often a Holy Grail not achieved within these organisations. Further, their systems are often disparate and require considerable manual processing in areas such as time sheet expense, project booking and generation of clients’ Project invoices. Because their systems are disparate, the ability to both track and analyse Projects becomes awkward, inaccurate and inefficient. They offer rigid delivery methodologies to their prospects and clients, but fail to recognise their own internal efficiencies and impact on their own profitability.
Benefits of Integrated Business Systems
The graph below demonstrates how consultancy businesses can gain benefit from introducing smarter business solutions such as Microsoft Dynamics.
Source: The Professional Services Maturity™ Model from SPI Research. Percentages represent relative improvement over baseline without purpose-specific software solutions.
Using Microsoft Dynamics NAV’s combined CRM, PSA and HCM capabilities as an integrated approach, provides one powerful business system that separates you from your competition – no more disparate systems and entry-level finance and accounting software.
What’s The Recommended Business Solution for Consultancy Services?
Microsoft Dynamics Business management software can make it easier for consultancy organisations to complete projects on time and within budget, significantly reduce inefficiencies and therefore overhead costs. The software is a key component of the Microsoft Operations Platform, which helps organisations track project status, including expenses and profitability, and monitor all related activities. It gives you the tools to more effectively collaborate and manage dispersed teams, sharing the data needed to quickly make strategic decisions and respond to change.
So, don’t get caught up in wasting resources on tracking and tracing billable hours, instead accurately bill your clients for projects with an integrated business management system that provides 4 core areas;
- Fully integrated financials
- Accurate Project Accounting
- Time and Expense Management
- Business Intelligence and Reporting
Would You Like To Know More?
Request a demonstration of the business system or download this free whitepaper. Alternatively, call Martyn Kemp on 0203 004 4600 for information on our ERP solutions for professional and consultancy services.
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