To be successful in today’s challenging business climate, you must maximize the utilization of assets and professional resources. Problems in managing bid pricing, contract administration, time and expense reporting, and skills availability management can quickly turn a profit into a loss.
Large, successful, fee-based services firms realize that it is the combination of “Best-in-Class” services business processes and easy to use information system applications that enable a firm to be successful … paper processes or piece part software just won’t cut it.
Although tools and software to automate services business functions like time and expense reporting exist today, most small and medium size firms have not had an affordable, easy to use integrated solution.Plus most of the commercially available software focuses on the back office business management vs. improving the effectiveness and billable utilization of every professional in the field.The INSIGHT Group, with its substantial experience and knowledge of the fee-based services business, undertook the development of a business solution that combines the services industry’s Best-in-Class Services Business Processes with an easy to use Web-Based Hosted Application Software Suite called SerPASS. SerPASS was designed specifically for small and medium sized services firms. SerPASS helps firms effectively manage a comprehensive list of critical business functions:
All of these critical business functions are accomplished utilizing a common sense business process workflow… with in-process guidance and validation checking.
Every customer engagement can be tracked and updated with pertinent information to give you a comprehensive view of the critical elements of your business in a timely manner, so you can do something about it: accelerating the deal making process, creating higher levels of customer satisfaction, and assuring profitable revenue growth.
We, at INSIGHT, have been using SerPASS for over seven years and have seen some impressive productivity benefits.
Specifically, we have reduced our staff support expenses by over 35% and all of our professionals have more time for billing.
Most firms should realize a significant reduction in operating costs. This will occur both at the staff level and the billable professional level. Reductions in the 20 – 30 percent range should be achievable at the staff level, while billable professionals should see a 5 to 10% potential utilization increase due to less administrative time. This can add up to significant revenue and profit opportunities. Administrative time in managing Time & Expense, Billing, Utilization Reporting, and Contract Administration, etc., can easily add up to a day per week. With SerPASS, you can enter this type of information once, and all appropriate functions are updated real time. In addition to providing more time for billable work and selling, it provides your firm with a complete audit trail to answer potential billing questions.
A combination of less administrative time and a much better view of each professional’s planned availability can drive a productivity increase of 10% or better … well within most companies’ reach. For example, a 10% utilization increase for a firm with 20 billable professionals and an average billable rate of $75.00 per hour can realize as much as a $312,000 Revenue increase which could potentially all fall to the Gross Profit line each year.
INSIGHT provides a full set of customizable implementation and hosting offerings including:
|Thomas V. Esposito
Practice Leader & Owner
|'T' Esposito (Jr.)
|Ph: (757) 631-9181||Ph: (757) 424-1800|