Working within the consultancy services sector for the past 2 decades, I have seen inefficiencies in organisations’ business processes, time and time again. These organisations are under constant pressure to allocate resources more effectively, increase client chargeability rates, and generate greater profit margins. Their inability to effectively track and increase billable hours hits their bottom line profitability and negatively impacts on their future success.
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
Consultancy businesses can gain benefit from introducing smarter business solutions such as Microsoft Dynamics.
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 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
If you would like to find out more about Dynamics NAV, please give us a call on 020 3004 4600 or fill in our contact form.