Remove Cash Flow Remove Efficiency Remove Finance Remove System
article thumbnail

Optimizing Project Accounting: A Game-Changer for Professional Services

Progressus

Ultimately, these hurdles jeopardize the firms’ ability to set and achieve short-term and long-term objectives, forecast cash flows, and strategize for the future. To steer the business in the right direction, the finance department requires instantaneous data on project statuses, forthcoming deals, and future client engagements.

article thumbnail

Key Performance Indicators (KPIs) for Professional Services Firms

Progressus

People often generate nearly 80% of the industry’s revenue, making efficient resource management critical. Utilization goals must strike a balance between short-term revenue targets and long-term considerations to avoid burnout or underutilization, which can lead to cash flow issues.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Hospital Budget Systems Are Holding Back Innovation

Harvard Business

health care system. Explanations include their IT departments already have their hands full installing, maintaining, and upgrading electronic health record (EHR) systems. But much of the blame can be attributed to hospitals’ misaligned budgeting and incentive systems. Gillian Blease/Getty Images.

System 28
article thumbnail

7 Critical Success Factors for Project Based Firms to Consider in 2024

Progressus

The Power of Unity Firms need real-time insights into the entire business – finance, project accounting, sales, everything – otherwise multiple versions of the truth will start showing up in budgets, estimates, and forecasts. Many pro services firms still use fragmented systems or analog methods like spreadsheets to manage projects.

Agile 52
article thumbnail

The 5 Growing Pains of Service-Based Businesses in 2023 (and how to overcome them)

Asamby Consulting

Examples of measures to systemize your success factors: Define your vision and mission Build out SOPs Defining your value proposition Setting up some best practice examples around how you service clients Set up standard responses to specific client requests Set up decision-making frameworks. Check out our privacy policy.

How To 52
article thumbnail

Frameworks for the Case Interview (Part II: Mergers and Acquisitions Framework)

Tom Spencer

Yes, M&A is not all about finance! There are three main valuation methods you can use to estimate the value of the company: Discounted Cash Flow , Comparable Companies , and. To be efficient, I would recommend that you click the three links above and read the articles in order to understand each valuation method.

article thumbnail

The Debate on Corporate Tax Reform Just Started for Real

Harvard Business

corporate tax system is woefully equipped for current global realities. Such a system creates distortions without collecting as much revenue as the high rate would suggest. Such a system creates distortions without collecting as much revenue as the high rate would suggest. The news on the corporate side is better.