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      Introducing Estimated Billing Fees in Revenue Analytics

      Track both invoiced and estimated billing fees to optimize your project profitability

      TABLE OF CONTENTS

       

      We’re thrilled to introduce a major enhancement to our Revenue Analytics feature—Estimated Billing Fees. This addition empowers businesses to gain deeper financial insights beyond the Invoiced Amount, providing a more holistic view of their revenue streams.

       

      Why the Change?

      Previously, Revenue Analytics focused only on invoiced amounts, which limited its scope for customers managing projected revenues. By incorporating Estimated Billing Fees, businesses can now analyze both realized revenue (invoiced) and projected revenue (estimated), enabling more strategic decision-making.

       

      How It Works

      • For customers with Billing & Invoicing:
        A toggle will appear in the Revenue Analytics section, allowing you to seamlessly switch between:

        • Invoiced Amount: Realized revenue from invoices.
        • Estimated Billing Fees: Projected revenue based on ongoing work.

      • For customers without Billing & Invoicing:
        Estimated Billing Fees will automatically serve as the default revenue metric.

       

      How Estimated Billing Fees are Calculated

      1. Time & Material Projects:

        • Calculated by multiplying approved timesheet hours by the employee's rate card, taking into account any historical changes in roles and rates. The system now tracks and applies rate changes based on their effective dates to ensure accurate billing calculations.

      2. Fixed Fee/Milestone-Based Projects:

        • Derived from the total milestone fees and their respective estimated billing dates.

      This ensures that revenue forecasts remain accurate, whether your projects are time-based or milestone-driven.

       

      How to Access Estimated Billing Fees in Revenue Analytics

       

      Navigate to the Projects section. Go to Analytics and click on Insights. Review the Revenue per Client metric to access both Estimated Billing Fees and Invoiced Amounts.

      Use the toggle to switch between metrics based on your analysis needs.

       

       

      Benefits of Estimated Billing Fees

      • Deeper Financial Insights: Compare projected and realized revenue for better financial planning.
      • Improved Forecasting: Anticipate cash flow based on estimated billing dates.
      • Enhanced Decision-Making: Identify trends and gaps in revenue streams with granular insights.
      • Streamlined Reporting: Access both revenue metrics in one consolidated view.

       

      Why This Matters

      With the addition of Estimated Billing Fees, businesses can now:

      • Evaluate projected revenue against actual revenue.
      • Better manage budgets and forecast financial health.
      • Make data-driven decisions to improve project profitability.

       

      Learn More

      With this enhancement, you can now gain deeper insights into your project's financial performance by analyzing both realized and projected revenue.

      For further details on Tracking Revenue Reports, feel free to click here for more information.

      Tracking Revenue Reports

      Unlock the full potential of your revenue data today!