Fresh Projects let's you consider and compare the finances of projects across all clients to assist in determining which clients are driving your business forward and which ones are holding you back.
The Client Profitability can be graphically interpreted as follows:
- Begin by going to Insight in the main menu and selecting Client Profitability in the Profitability section.
- Set any necessary Filters near the top of the screen.
- Further down on the screen, doughnut charts will reflect the financial situation of the relevant projects linked to a specific client.
- Focusing on a single doughnut chart, it is first and foremost, comprises the Fee in the left hemisphere and the Cost in the right hemisphere.
- The Fee in the left hemisphere is indicated by the grey segment and represents the total agreed upon fee with the client. As you begin invoicing on projects, a new black segment will appear, beginning at 12 o'clock and moving in a counter-clockwise direction over the grey segment. Ideally, once all projects for this client are complete, the grey segment should be totally covered by the black segment, indicating that the client has been invoiced for 100% of the fee. The value of the black segment is reflected by the Invoiced amount.
- The Cost in the right hemisphere is indicated by the light blue and navy blue segment and represents the total internal budget set for all projects linked to this clients. As time and expenses are captured to theses project and then approved, the navy blue segment will appear, beginning at 12 o'clock and moving in a clockwise direction. Ideally, the navy blue segment should always stay within the confines of the light blue segment, indicating that the true project costs are still within the budgeted amount. The value of the navy blue segment is reflected by the Actual Cost amount.
- The Cost in the right hemisphere is indicated by the light blue and navy blue segment and represents the total internal budget set for all projects linked to this client. As time and expenses are captured to theses projects and then approved, the navy blue segment will appear, beginning at 12 o'clock and moving in a clockwise direction. Ideally, the navy blue segment should always stay within the confines of the light blue segment, indicating that the true project costs are still within the budgeted amount. The value of the navy blue segment is reflected by the Actual Cost amount.
- The thin green segment in the left hemisphere indicates a Positive Cash Flow and is calculated as the difference between the amount Invoiced and Actual Cost. If, at any point, the Actual Cost exceeds the amount Invoiced, this will be reflected by a thin red segment in the right hemisphere.
We hope this article was helpful. If you have any questions, please do not hesitate to reach out to us. Our support team is always happy to help!