Everything You Need to Know: Fixed Price Contracts and Revenue Recognition for Professional Services Firms

Author: Categories: Professional Services, Profitability, Project Management, Visibility

Everything you need to know about managing fixed price contracts and revenue recognition for professional services firms

Managing fixed price contracts is a source of struggle for many professional services firms. Both private organizations and public companies need to paint a picture of how complete a project is in order to run revenue recognition. In addition, companies need to do so in a manner that is justifiable to its board, shareholders, auditors, and the IRS, all while … Read More

Forecasting Revenue Using Predictive Analytics: An Interactive Case Study

Author: Categories: Metrics and Reporting, Professional Services, Visibility

Forecasting Revenue Using Predictive Analytics

Now, for those of you who want more detail… Much has been written about using fancy technologies like artificial intelligence, machine learning, and predictive analytics in the workplace to do everything from identifying the most effective project managers to making recommendations on Netflix. Too often, the reader is left with the impression that the technology is only available in high-end, … Read More

Can Artificial Intelligence Identify Your Most Effective Project Managers?

Author: Categories: Professional Services, Project Management, Visibility

Can Artificial Intelligence Identify Effective Project Managers

I harbor no illusion that the current state of artificial intelligence and machine learning is advanced enough to be an effective substitute for a talented, experienced, passionate project manager. For me, a more interesting question is whether these techniques can help improve success rates within the project management discipline. Could artificial intelligence and machine learning identify the most effective PMs … Read More

3 Tiers of Professional Services Management that Unlock the Potential of Enterprise Data

Author: Categories: Metrics and Reporting, Professional Services, Visibility

3 Tiers of Professional Services Management Software

Managing projects based on a consolidated view of performance has always been an attractive idea in the professional services sector, but one that has been traditionally difficult to follow up on. Accounting for revenues, costs, profits, and performance to both budget and schedule for in-flight projects requires a complex data gathering and analysis processes. Bringing together information from disparate systems … Read More

The Importance of Utilization Benchmarking, and How to Get Started

Author: Categories: Benchmarks, Professional Services, Visibility

We talk about professional services utilization benchmarks a lot on this blog. And it’s for a good reason. Benchmarks imply that you’re actually measuring your progress. And that’s something we can get behind. Too often the conversation is focused on the next big buzzword or some form of technology that promises to solve all of your problems. An important conversation … Read More

3 Strategies for Selecting the Right Software Vendor—the First Time

Author: Categories: Professional Services, Scalability, Visibility

Over the years we have spoken with quite a few companies as they were evaluating software solutions and have noticed a few approaches that work well, and a few others that have, let’s say, fallen short. Everyone takes a different approach. Some like to dive in head-first and prototype their business within a tool. Others like to perform a formal … Read More