The Key to Driving Revenue Growth is Utilization

A constant question in the minds of many project directors is how can I increase the billable hours of my team whilst completing all of my other tasks?

Many businesses strive to improve productivity and utilisation and it can be hard without a clear view of your project management process. For instance; with project A due next week, project B in 2 weeks, timesheets piling up and a growing inbox, projects can fall by the wayside, ultimately resulting in a loss of profitability and productivity. The result is money can start to leak out of the business because you can’t efficiently manage it all.

To be successful, a project requires much more than just delivering a set of tasks. Projects require visibility, management and the right skills and timescales for completion. The knowledge, skill and experience of staff are critical to corporate growth and consumer satisfaction. The skills they represent are a primary source of revenue and therefore must be utilised to their full potential.

Businesses must make the most of billable hours, accurate time keeping and project and expense management in order to improve productivity and therefore profitability. The more billable hours there are, the greater the potential revenue that can be generated from those hours.

Having clear visibility into the skills and resources available for each individual project ensures that the right people can be matched with the right projects. With the ability to enter timesheets online anytime, project managers are able to track the amount of time employees are spending on each project. This also helps to reduce manual errors, decrease invoice cycles and improve the accuracy of billable and non-billable hours.

When you’re striving to provide the best services and project delivery to clients in a competitive environment, efficient processes and accurate resource allocation is crucial. Having a system that can help automate and streamline these processes, whilst giving you complete visibility into each project can help to increase your profitability as well as your customer satisfaction.

via Business 2 Community http://ift.tt/1kgqrgR