See the cost of your staff to your business and how profitable the work they are doing is in real time with your Profitability Dashboard.
Using this guide, you can:
The Profitability Dashboard works by showing you the Revenue and Cost values of the time you and your colleagues spend doing client work. By comparing the revenue from billable time logged across the company to the costs of the people logging the work, you’ll be able to get a real-time handle on the profitability of the world's most perishable inventory: time.
Profit = Revenue - Costs
Filter and select all of the billable time and costs of team members to display the revenue and costs collectively in a graph, as well as break them down by individual team members. Easily see how everyone is contributing to your profitability.
This feature is only available for Premium users.
Find this feature under Dashboards.
The Profitability dashboard pulls information from how your account is configured.
The filters you can apply are based on how each of the following features have been configured:
Select one or more users, groups or other characteristics and then see the profitability of that group both collectively (in the top chart) or in more detail (in the table below). There are a number of different filters to utilize as you track profitability. These filters can be stand-alone or a combination.
Whenever you make a change to the users you've selected in the top section, the graph below will automatically re-compute, showing you the collective revenue, cost, and profit margin calculations in real time. If you want to remove any users from the report, you'll see them all listed easily in a table at the bottom - simply click on the X on the right and the dashboard will re-compute automatically.
To add users to the report:
When developing this dashboard, we realized how important it is to relate the total time you bill clients to the total cost a staff member has each week.
Using logged time to calculate the cost of your staff's time may underestimate it: while people might only log 4 hours of billable work in a day, you may still pay an employee for 8 hours of work.
To give you a much more accurate picture of profitability, Accelo gives you two options to calculate time cost:
Accelo uses three different inputs to determine the Total Time a user is considered to have worked on a given day/week.
The total time cost then takes the hours that should have been worked by a user on a given day (or week) and multiplies it by the Cost Rate for that user, set in the "Default Cost Rate" for each team member you're running your report on.
For example, if a team member is part time (or on vacation for a day) and only worked a 4 day week, and their per-hour cost (usually calculated by dividing their yearly salary plus on-costs by 1900 for the number of hours in the year less holidays and vacation time) is $45/hour, their Total Cost for that week will be $1440 regardless of the number of hours they remembered to log in their timesheet.
Below the Profitability Graph, you will find each User's Revenue, Logged Time Cost or Total Time Cost, and a calculated Profit Margin.
The profit margin includes three statistical numbers, and each have different associated calculations.
How to read the Profit Margin Graph: