Any project has certain constraints that need to be considered. One of these is cost. Project management teams are expected to effectively control and manage this constraint as it is a primary driving force in the profitability and success of a project. As such, it’s important to implement efficient cost estimation processes and techniques to …
How to Improve Estimating Costs to Accelerate Profitability Read More »
Did you notice that the projects you’re currently working on have become more challenging than in the earlier years of doing business? If so, you’re not alone. A recent study by KPMG proves that 67% of project managers believe that the complexity level of programs and projects have drastically increased in the last ten years. …
Effective expense management is a cornerstone of successful business operations. To ensure the financial health and sustainability of your business, it’s crucial to have a systematic approach to managing project and operations expenses. It directly impacts the financial performance of your company and provides valuable benefits such as: Smarter allocation of funds Streamlining tax processes …
A 5-Step Guide on How to Manage Business Expenses Effectively Read More »
In the dynamic landscape of project management, success isn’t solely measured by completing tasks on time or within scope; it’s fundamentally tied to profitability. Understanding how to assess whether your projects are meeting their profit targets is essential for sustaining a healthy business. In this blog, we’ll explore various strategies and tools to evaluate the …
A Comprehensive Guide on How to Assess If Your Projects Are Profitable Read More »
In the fast-paced world of professional services where billable hours often translate directly into revenue, the importance of effective time management cannot be overstated. Time is money. For professional firms, it is the currency that can either lead to success or contribute to failure. In order to drive higher profitability, business leaders need to determine …
Unlock Profitability: Time Tracking’s Crucial Role in Professional Firms Read More »
Within the many intricacies and moving parts in business operations, managing labor costs is a strategic imperative for success. The ability to monitor and control labor expenses in real-time is akin to holding the reins of profitability. Based on industry averages, the percentage of your operations cost that can be allocated to payroll is 20% …
5 Tips for Real-Time Labor Cost Management and Efficiency Improvement Read More »
Managing time and invoicing can both be major challenges for businesses of all sizes. Keeping track of how much time is spent on projects, invoicing clients accurately and timely, and ensuring timely payments can be a daunting task. In fact, 48% of businesses process over 500 invoices a month. That’s a great deal of work …
8 Reasons Why You Need an Integrated Time Tracking and Invoicing System Read More »
Measuring performance is crucial to the success and growth of any organization particularly in this fast-paced, highly competitive, and tech-savvy economy. Done well, it will help you target the right clients, expand your business, leverage opportunities, and foster a healthy work environment. In fact, research proves that performance reviews implemented correctly results in 40% higher employee …
The Simplest Way to Measure Business Performance and How You Can Apply It Read More »
Time tracking and invoicing can both be major challenges for businesses of all sizes. Keeping track of how much time is spent on projects, invoicing clients accurately and timely, and ensuring timely payments can be a daunting task. In fact, 48% of businesses process over 500 invoices a month. That’s a great deal of work …
8 Reasons Why You Need an Integrated Time Tracking and Invoicing System Read More »
In this article, you’ll find: Relationship of Time Tracking with Project Management 5 Steps on How to Implement Project Time Tracking Introduction Efficient project management is an essential element of any successful enterprise. It is the most fundamental aspect that dictates the successful completion of a task or project. Effective project management is a key …
Project Time Tracking is Important – Here’s How to Do It Right Read More »
