August 04 , 2015
Whether you have 10 employees or 5,000; leading service businesses around the globe realized the value of boosting teamwork in the workplace through collaboration and bringing a team together and how this can decrease non-billable bench time, improve project management, automate billing and invoicing process, and optimize revenue and profitability reporting.
While for many services organizations, finding the right balance between improving communications by giving their team the tools to work across multiple projects and adapting the right resource and project management that will help to increase visibility, improve delivery with higher quality.
Several questions need answers with current or the next project and resource management solution that your services organization will adopt and it is also an indicator for something we can (or we should) fix. Here are a few things you can do to streamline your services operations.
1 - Increase Client Involvement and Streamline Experience
Deepen your current project management solution; giving your client access to detailed project status reports, exception reports and project status summaries give clients the information they need to remain proactively involved and up to date on project progress, so the whole team can work together in one place.
2- Manage Resources Globally and Build The Right Team
In today's global economy, it only makes sense that the right resources should make up a project team, regardless of their physical location and time zone. Having your project management solution able to manage a dynamic, global pool of resources, from one, central cloud solution will help your team to function like they are sitting around the same table. This will give you a great visibility and streamline your business decisions.
3- Reconsider Your Time Entries Process and Go Mobile
Manage time sheets to the level of detail required by each unique project, time entries don’t have to stop just because you and your team are out of the office. Ensure your project management solution offers Online, Offline, or Mobile timesheet entry. This will ensure a real-time updating of project status and results against key deliverables.
4- Integrate You Expenses Management with Your Project and Accounting Solution
Get a full spend visibility by tracking each and every expense at the project and task level. This will increase your billable hours by better managing all your working hours and make sure your solution investment can manage multiple currencies because you don't know when and where your expense will occur.
5- Increase Your Cash Flow Turnover
Project quotation, budgeting, cost control and manage complex invoicing and billing; service orders and contracts are all complex tasks every service organization encounter, however making sure your current accounting and project management solution can easily and efficiently capable to automate billing rules, ensure expenses are accurately captured and timely billed to your clients is a breakthrough feature can increase your quote-to-cash cycle and improve cash flow.
If you found these steps useful, I encourage you to check out “How to select the right project management solution” where you will find great tips help you to be smarter in selecting your next enterprise critical tools.
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