Better cash flow
The client's challenge
A service company's lack of billable hours significantly strained cash flow.
Our solution
- determine the causes of not capturing enough billable hours
- identify employee productivity, work-flow and billing problems
- set realistic capacity-based goals for each person
- provided timely feedback when goals were and were not met
- provided further training to recognize potentially billable tasks
- developed action plan and training for non-performers
- improved the billing process to align invoices with contracts.
The results
- capacity increased 30%
- revenue increased 20%
- improved AR collections 35%
- improved employee performance and identified non-performers using objective criteria
- helped avoid future collection issues