Practice Manager: Productivity release
As an accounting professional how do you measure success?
Some practices focus on efficiency, using KPIs like Turnaround Time and Work In Progress. Others focus on productivity measures like Billable Hours:Capacity. Some (like Xero Partner Blumer & Associates) have shifted the focus to more external measures based on client satisfaction and success.
There’s a real divide out there, and that matters when it comes to the software you run your practice on, because the way success is measured internally often flows through to how clients are billed – either on time spent, or value provided.
With Practice Manager you choose.
You choose how you measure success internally as well as how you bill clients. Even better, you can switch at any stage – from time-based billing to value-based for example – and still keep your internal measures the same.
Practice Manager is great for value-based firms, and the latest update is an enhancement for those using timesheets to measure productivity based on a billable hours.
We’ve introduced the live Capacity and Productivity Dashboard, combining data from staff timesheets with targets set by management, to give team members real-time feedback on how they’re tracking.
Check out the video below to see how it works or read the detail in our release notes.
We’ve also included the ability to write time against a client – great for those 5-10 minute conversations where a job isn’t set up already. Find out more in the release notes.
No matter how you measure success or bill clients, Practice Manager gives you the freedom to elevate your practice to a new level of efficiency and effectiveness. Even better, it’s seamlessly connected to the single ledger so staff can work with live client data from Xero.
We’re continuing to release updates to Practice Manager in the short term, while running a parallel stream of work at the same time to integrate it into the Xero platform.
Let us know what you think of the latest updates and we’d be keen to hear how you measure success.
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