Bizinta News & Trends
Is your forecasted revenue consistently not lining up with your actuals? If so, you may be interested in the following case study:
The Problem – Every month a professional services firm noticed that they were missing overall revenue goals by 20% month after month. They didn’t understand why, nor had the data to pinpoint where the missing revenue had gone.
The Reality – The firm needed better reporting. The sales numbers coming out of their CRM were not lining up with the billable hours worked by the project teams. So why the deficit? To figure this out they needed a report that showed scheduled (forecasted) revenue vs actuals in real-time by client and project.
The Solution – The firm implemented Bizinta to manage their back-office processes for timesheets, scheduling, invoicing and reporting. Using Bizinta they developed a suite of customized reports that included tracking scheduled vs. actual revenue. They were able to drill down into specific client projects to get the data they needed and address the client teams.
The Results – Some staff at the firm were entering all their timesheet data on the last day of the period, rather than daily, leading to unintentional omissions of hours worked earlier in the week. This resulted in significant time gaps when multiplied across a 30 person staff. Implementing new timesheet procedures resolved the issue, ensuring that invoiced revenue matched the forecast accurately moving forward.
To maximize your firm's revenue and profitability, solid real-time reporting is essential. It provides instant access to margin, utilization, and realization data across employees, clients, and projects, enabling informed decision-making. Most importantly, it keeps you from leaving money on the table.
Sample report showing scheduled revenue vs invoiced revenue by client and project
If you are interested in seeing how Bizinta can enhance your reporting capabilities and streamline your business operations away from reliance on spreadsheets, then I invite you to book a demo.
