Survey Results: Architects, Engineers & Surveyors routinely writing off 25% of billable time
What if you could get your invoices out within 3 days of month-end instead of 3 weeks, and with a higher level of confidence in their integrity? Imagine the impact on your cash flow. Imagine the impact on office productivity.
Imagine the impact on yourself.
The secret is simple.
Start using a Job Management System that helps you do it all more easily. That’ll mean taking time to investigate options. But imagine the benefits when you find one that works for you.
Here’s a couple of facts from surveys we’ve conducted
67% of architectural and professional engineering practices
So what can you do about it?
The first step is to realise things don’t have to be difficult.
The second step is to realise at the end of the day the decision is yours. Anyone can give you advice. But what do they know about the processing and other issues in your business beyond the generic assumptions ‘Anyone’ could make. You have to do the homework and make the decision yourself. It cannot be outsourced.
You need a package where you can do it all in one place, from anywhere. Scheduling, time tracking, invoicing and reporting for greater visibility over your people and your profit.
Select a software package where you have the ability to generate automatic invoices based on job estimates, stage fees, actual data or line by line creation. You'll need to have the flexibility to invoice by stage, lump sum, progress claim or hourly rate. Where you can easily include variations with disbursements, sub-consultants, details or supplements depending on what you and your clients need.
Having an all-in-one system like Abtrac that enables you to create, send and track your customised invoices means the end of the month just became a whole lot easier.
One of our new Abtrac clients set a goal of getting most invoices out the door within 5 days of month-end. Previously they were sending them out in the 3rd and 4th week of the month.
The result was they erased a $250,000 overdraft within 3 months.
You need a system that tells you straight away:
“Where are we up to? What should we invoice? Is this an extra or part of the scope?”
With a good job management software system you can effortlessly turn data into valuable business reports to review business trends, productivity, write ons / offs and much more to maximise your business profitability.
With Abtrac, you can report on up to the minute information such as;
- Actual vs Budget by project.
- Work in Progress.
- Revenue and profitability by job type.
- Manage each project stage or by employee and more.
- Real-time write on/off reports by project, office, project manager, employee or invoice.
- Quickly see what has to be billed to whom, when and for how much.
- Manage employee productivity and hours worked.
I love how Abtrac captures all data relating to a project in one place with flexible invoicing by time engaged or percent complete on a customised invoice. It's great being able to track and report on budgets and sub-consultant costs.
Caroline G. | Tennent Brown Architects Ltd
So our questions to you are:
Are you frustrated by your month-end invoicing routine?
Is your invoice processing vulnerable to delays and uncertainty?
How do you measure and manage your projects, employees and invoices?
Do you think it could be better?
There is indeed a better, and easier way – and it doesn’t cost an arm and a leg.
The Abtrac team are writers, designers, engineers, consultants and analysts. Together we dream, build and deliver an amazing software solution for professional services.