Remove Cash Flow Remove Efficiency Remove Sales Remove Tools
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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. For companies where projects are the heartbeat, sales, marketing, and client servicing are the vital vessels supporting this heartbeat.

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Key Performance Indicators (KPIs) for Professional Services Firms

Progressus

Factors impacting profit margins include the tendency to allocate 80% of project work with the last 20% of the budget, inaccurate time-sheet reporting, underbidding during the sales process, and client disputes. Over time, this KPI facilitates precise cash flow forecasts, enabling strategic investments in line with long-term objectives.

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Case Math

Tom Spencer

It is a useful tool for a company that is trying to decide which customer segments to target and how much to spend on customer acquisition. Net Present Value: The NPV of an investment is the present value of the series of expected future cash flows generated by the investment minus the cost of the initial investment.

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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. It prevents you from generating reliable cash-flow forecasts and makes it incredibly difficult to manage resources.

Agile 52
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The 5 Growing Pains of Service-Based Businesses in 2023 (and how to overcome them)

Asamby Consulting

Work with contractors To get over that initial cash-flow issue, it can make sense to rely on contractors instead of employees. Standardizing delivery to ensure operational efficiency In order to grow your service-based business, you need to balance two things. The sequence is important: Get sales right first.

How To 52
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A Refresher on Marketing ROI

Harvard Business

I talked with Jill Avery, a senior lecturer at Harvard Business School and coauthor of HBR’s Go To Market Tools , about this concept and what it tells leaders about their spending on marketing. Comparing marketing efficiency with competitors. It’s about “delivering customers and sales.”

ROI 28
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The Comprehensive Business Case for Sustainability

Harvard Business

Investing in sustainability is not only a risk management tool; it can also drive innovation. In addition to the financial benefits that accrue from increased competitive advantage and innovation as discussed earlier, companies are realizing significant cost savings through environmental sustainability-related operational efficiencies.

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