Forecasting and planning can determine your destiny when you’re selling time
Professional services is all about leveraging human expertise, experience, effort and creativity to solve real client problems. Businesses that operate in a professional services capacity need to make forecasts in an uncertain environment and use data to make effective decisions around utilisation, profitability and hiring.
To make this happen, you need a set of tools that can plug directly into your financial back-end, delivering the data transparency you need to understand the reality on the ground. That’s where we come in.
Common challenges
Operational planning
Professional services firms must focus on optimising the needs of their clients and minimising internal constraints relating to personnel in order to remain profitable.
Resource utilisation
Professional services companies must try to balance the demand for, and supply of, their personnel according to the work they receive in the market. This utilisation not only impacts costs, revenues and bottom-line margins, but also has implications for the long-term morale of staff who, after all, form the core of any professional services provider.
Demand mismatches
When personnel resources are mismanaged, companies can find that their personnel are either sitting idly, chewing up fixed costs, or are overworked, which increases churn and hiring costs. These mismatches can damage overall profitability and can negatively impact the quality of the service provided if they’re not rectified.
Powerful forecasting
Cubewise and IBM Planning Analytics / TM1 provide a comprehensive suite of forecasting tools that can take in real data and assist with planning personnel, costs and revenues. By optimising these components, professional services firms can get a hold on their hiring challenges and make strategic decisions that maximise profitability.
Internal cost allocations
Hiring strategy
Resource utilisation
Professional services companies must try to balance the demand for, and supply of, their personnel according to the work they receive in the market. This utilisation not only impacts costs, revenues and bottom-line margins, but also has implications for the long-term morale of staff who, after all, form the core of any professional services provider.
Demand mismatches
When personnel resources are mismanaged, companies can find that their personnel are either sitting idly, chewing up fixed costs, or are overworked, which increases churn and hiring costs. These mismatches can damage overall profitability and can negatively impact the quality of the service provided if they’re not rectified.
Powerful forecasting
Cubewise and IBM Planning Analytics / TM1 provide a comprehensive suite of forecasting tools that can take in real data and assist with planning personnel, costs and revenues. By optimising these components, professional services firms can get a hold on their hiring challenges and make strategic decisions that maximise profitability.
Advanced resource planning, forecasting, and performance management tools
Here at Cubewise we can help you leverage the power of IBM Planning Analytics / TM1 to radically shift how you think about professional services. Make use of advanced forecasting, nuanced personnel utilisation and strategic planning functionality to facilitate better precision and reduce wasted time.
With real data-backed decisions, the only thing limiting you is your imagination. Why not get started today?
Amazon Web Services case study
We came up with a solution for Amazon Web Services that allows them to plan more efficiently.
Talk to us today and let’s overcome the challenge together.
When a system is unable to adapt to changing business circumstances, it can be tremendously frustrating for all who work with it. Things must go on, of course, and so users will resort to building tedious workarounds, simplifications and shortcuts that only serve to kick the can down the road.
Don’t accept that your business processes are incapable of adapting to fast-moving market changes. Contact us to find out how easy it can be to implement efficient and practical planning, reporting and forecasting workflows.
