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Case Study |
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"We are now in a position to provide timely reports and updates, internally and to customers, about the business and project progress. Professional Services is out in front of the business pushing updates to the company rather than reacting to potential problems."
Bill Woerner, VP, Professional Services,
Prescient Applied Intelligence
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Prescient Applied Intelligence gains immediate visibility into end of month revenue and resource utilization
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| Challenges
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- Using three different software packages to handle timesheet entry, expense reporting, and invoicing, Prescient wasted valuable time synching-up databases and had trouble generating reports.
- Professional Services had no visibility into financial information related to the business, could not develop accurate forecasting, and were dependent upon other departments to provide insight.
- Prescient had no system in place to monitor and manage project staffing and resource utilization, affecting monthly scheduling and billing rates.
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| Solution
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- QuickArrow offers a single, comprehensive solution to consolidate and streamline manual reporting processes and accurately manage time, expenses, and billing.
- QuickArrow's revenue recognition system enables organizations to differentiate between revenue for services performed and amounts contractually billable, creating a true picture of a company's financial standing.
- QuickArrow provides complete insight into resource availability, skills, and certifications, improving efficiencies in project planning and staffing.
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| Results
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- By using a single solution for time and expense reporting, invoicing, and project monitoring, Prescient has eliminated the time associated with comparing numbers from multiple systems and generating ad-hoc reports for clients.
- Professional Services now has immediate visibility into monthly revenue and consultant utilization 1 day after closing the month, rather than waiting up to 2 weeks into the following month.
- Effective and efficient resource management has helped Prescient negotiate accurate project start dates and their new visibility keeps more resources booked at standard billing rates.
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