Gross margin can be tracked. Add costs against a person and measure compare to revenue received on a project.
Gross Margin - MVP now available
The team is proud to announce that version 1 of Gross Margin analysis has been completed and is now available for use. While this information is unlikely to be made visible to many employees, it will provide valuable information and insight to managers and business owners.
The MVP of gross margin focuses on calculating the gross margin at an individual project level, as well as the necessary changes to accurately calculate the hourly cost for people. Naturally this information is very sensitive - your Project Works Administrator will be able to provide access as directed by your organisations management.
This is just a first step, and is what we consider the MVP for the feature. A roadmap of updates are planned, which will see gross margin reporting expanded, with dashboard views for projects, clients and even teams and people.
So why did we add Gross Margin Reporting into Project Works?
Project Works is much more than a tool for timesheeting and managing projects - we see it's real place as a tool to help effectively run a services business. When used to it's full potential Project Works captures a lot of information that can be analysed to provide value to business owners. With your workforce set up correctly, with accurate capacity details and accurate remuneration and cost information, this can be merged with timesheets data, financial forecasts as well as project invoicing to provide gross margin reporting.
We believe that the more information that Project Works can surface about your projects and business, the more you will understand how your business is performing.
For a full overview of this feature refer to the Gross Margin section.
Please email firstname.lastname@example.org if you have any questions about what has been released.