We need to be commercial – where does our profit come from?
About our Client:
Our client is a Global Professional Services Firm. They are in the Top 10 globally in their category.
The Problem:
Our client operates in a market which is becoming increasingly commoditised and hard to differentiate. There was a real need to become more commercial aware throughout the firm and to understand how and why profit is generated.
Before change could happen, they knew that they had to be able to consistently answer questions like:
• What’s the true profitability of each Consultant or Fee Earner by client and by project?
• What’s the true profitability of each client and each client engagement?
• What elements of Consultant or Fee Earner behaviour make them profitable or not?
• Which clients or sectors are showing growth opportunity signals?
They had all the data. What was missing was insight and answers.
What was the impact of not solving the problem?
Not answering this meant they lacked the insight and knowledge to be able to make the right choices to maximise profits. They knew the impact was:
• Missing obvious opportunities to grow client accounts.
• Missing the early warning signals for “at risk clients” or failing to spot new engagements.
• Underperforming departments or people who be overlooked.
What we did:
• We came in and quickly understood the problem. We looked at what was blocking the outcome they wanted.
• We understood the stakeholder views around reporting. This was critical so the solution would be accepted, not rejected.
• We took data from the firm. We modelled it. We visualised it. We adapted the model to fit needs.
• We created dashboards fit for the CEO through to operational managers. We delivered insight and actionable intelligence, not just data and information.
Solutions and results:
We devised a suite of dashboards covering clients, engagements and consultant fee earners. This showed profitability and the impact of various metrics such as utilisation, rates, fee allocations and additional costs.
The work has been so well received that Trovus are retained as the Outsourced Business Intelligence provider to the firm.
What they said:
”There is no way of spotting this in our current data and systems”
With Trovus, we can easily see what the relative profitability is in terms of people’s work, what profitability problems are there, and enabling us to drill down to see where the issues are.
News & Events
View the April Issue of Trovus Today -(our 4 page monthly newsletter).
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CIO Round Table Event - Increase ROI of data analytics by empowering internal customers
14 04 2014
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Case Study- Using HR data insight to improve staff performance and decision making
26 03 2014
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HR Analytics: Trovus COO, Fanni Vig read a great interview last month by the IE Group and below are her six key takeaways from the Q&A:
26 03 2014
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Trovus Drives Growth of Data Analytics with Appointment of New Executive Chairman
25 03 2014
