How to Measure and Calculate Billable Utilization: Formula for Professional Services

Author: Categories: Benefits, Efficiency, Professional Services, PSA Software, Resource Management

What is billable utilization in professional services

Utilization. Every professional services firm I’ve ever worked with—whether they’re a management consultancy, a digital marketing organization, or a technology implementer—calculates and measures a billable utilization formula. Every professional services manager—from the executive leadership level to delivery managers to department heads—tries to improve utilization. Every billable consultant is, at least in part, evaluated and compensated on utilization. Billable utilization is … Read More

Utilization and Engagement – How Efficient Management Impacts the Workplace

Author: Categories: Efficiency, Professional Services, Resource Management

Utilization-Management-Tools

Utilization is a loaded term in the professional services sector. Decision-makers get excited when discussing utilization because they often face demand to maximize every bit of resourcing they have available to improve the bottom line. We talk about strategies for maximizing resource utilization a lot on this blog (because it is what we do every day), but there really are … Read More

6 Revenue Forecasting Mistakes Professional Services Firms Make – Part 2

Author: Categories: Benefits, Growth, Professional Services, PSA Software, Resource Management

At the center of every professional services firm, there is a revenue forecast. Regardless of the platform used to develop a revenue forecast—spreadsheets, whiteboards, or Professional Services Automation software—every services manager is trying to predict what the future may hold.  And revenue forecasts are just that, a prediction. In my last post (link below) about revenue forecasting mistakes, I took … Read More

6 Revenue Forecasting Mistakes Professional Services Firms Make – Part 1

Author: Categories: Benefits, Growth, Professional Services, PSA Software, Resource Management

Professional services firms live and die by their ability to forecast revenue. Although there are many types of forecasts that service firms perform—utilization, profitability, or backlog—they all tie into an underlying revenue forecast. Get your revenue forecasting right, and you have an appropriately sized firm that has a healthy service mix. Get your predictions wrong, and you will be under … Read More

Resource Management: What Facebook and Professional Service Firms have in Common

Author: Categories: Professional Services, Resource Management

Facebook has recently conquered another huge milestone. The social network corporation just achieved the title of fourth most valuable company in the world, dethroning Exxon Mobil. It is nothing new that people simply loves Facebook. But why would an executive at a professional services firm care about the success of this giant? The answer is simple. Think about Facebook’s biggest … Read More

The Secret to Smart Professional Services Resource Management

Author: Categories: Efficiency, Professional Services, Resource Management

Originally published in the July issue of Professional Services Journal. Leonardo da Vinci was the ultimate Renaissance Man. It’s hard to comprehend that the same person who painted the Mona Lisa and The Last Supper was also an accomplished military engineer, architect and mathematician. Da Vinci had an unquenchable thirst for knowledge in both the arts and sciences as well … Read More

How PSA Software Helps You Deliver More with Less – PSA Infographic Deconstructed: Part Four

Author: Categories: Efficiency, Professional Services, Resource Management

Over the past few blog posts we’ve examined how service organizations can enhance their profitability by implementing a professional services automation (PSA) solution. We covered increasing utilization, improving project margins, and using PSA software to deliver more successful projects. Today, we’ll take a look at professional services software from an operational efficiency perspective—delivering more with less. Because services automation software … Read More