Do you know that only two-thirds of small to medium sized businesses survive more than 2 years? That’s quite a harsh reality for many service professionals who spend most of their life (and savings) trying to build a business that'll withstand the test of time.
But what's more important to note, is that 82% of these businesses reach a point of failure due to preventable cash flow problems; problems that can be avoided with a client work management platform.
How? The right platform will automatically track budgets, forecast profitability, and foster company-wide transparency, allowing you to focus on growth, avoid failure, and get back to doing the work you love!
Here’s how it's done:
Minimize risk and human error with a platform that offers increased visibility over your team and projects. That way, you’ll be able to see when a certain task in your project is going over budget and address it before any real damage is done to your bottom line or client relationships. The right smart platform will also automatically save client data, calculate billable hours and budgets, and update timelines for you automatically - so that you don’t have to do any manual work at the end of the day when you’re exhausted, short on time, and more likely to make mistakes.
Increased visibility also means increased profitability, both for you and your business, because now you know how much money is being spent for the amount of work being done (without having to jump between various tools or deal with scattered info). The best part? With Accelo that offers a real-time utilization dashboard, you’ll be able to see who on your team is tasked out during a specific day or week, and allocate work accordingly. That way, your projects stay on track and no one gets burned out.
When you think about building a business for growth, it’s not simply a matter of bringing in more clients to drive more revenue - it’s about optimizing your operations so that you can spend more time on servicing your clients (work that drives revenue), instead of nonbillable and repetitive tasks like admin or busywork. If you’re manually trying to monitor your cash flow, or setting reminders just to keep track of projects deadline, then you need to think critically about how you’ll continue to do that if one day you double or triple your clientele. The answer? Complete automation.
Learn More: Mastering the Quote to Cash Process for Your Professional Business
Manage all of your client work from a central hub to ensure your business is more profitable and you're less stressed. Accelo combines sales, projects, tickets, retainers, time tracking, resourcing, and billing in one place - will streamline your operations from prospect through to payment. That way, you're able to work more efficiently than ever before - in turn, logging more billable hours and boosting your bottom line.
Grow your business on a platform that’s built to help you reach success! Click here to start your free trial today.
