Monograph—a practice operations platform designed to help architects and engineers oversee projects, timesheets, and forecasts in one integrated interface—has unveiled its latest add-on feature, Planned Profit Report and Profit Drivers. Planned Profit Report and Profit Drivers are designed to provide architecture and design firms with a better understanding of their profitability.
With Planned Profit Report, firms that subscribe to the platform will be able to enter their staff’s salary information along with their overhead cost, offering further visibility into a firm’s financial health while helping them grow their profit. This report offers easy-to-understand terms and visually appealing graphs to help architecture and design professionals comprehend the planned profitability of their firm. Profit Drivers is a tool that shows users what categories make them the most profits, and includes types of projects, clients, team members, and phases.
The Planned Profit Report is calculated using the project information entered into the Project Planner for each phase, in conjunction with the Compensation information added to team members’ profiles, as well as the Organizational Overhead Costs completed within an Organization’s Settings. The Profit Drivers Report is calculated using the project information entered into the Project Planner for each phase, in conjunction with the Compensation information that added to a team members’ profiles. Without all of this information being completed, the reports will be inaccurate.
“You don’t need a finance degree to understand profits,” said Robert Yuen, CEO, and Co-Founder of Monograph. “Planned Profit Report gives firms and their operational leaders a better understanding of their organization’s past and future profitability. Profit Drivers show them the type of projects that drove profits and those that did not. Customers naturally want to understand the reasoning behind their profit’s gains or losses, and having the ability to observe the revenue and costs for various time frames will begin to satisfy this curiosity.”
What kind of projects make you the most profit? How do you know which client is the most valuable? And what type of fees should we charge? Profit Drivers can answer all these questions by letting firm leaders see visually what category makes the most profits. So users can make data-driven decisions to drive more profits in future projects.
Fortifying its mission to improve the architecture industry, Planned Profit Report and Profit Drivers will join Resource as the major features debuted by Monograph in the last calendar year. Both add-ons focus on streamlining practicing operations to one centralized platform, decreasing time spent on administrative tasks, and increasing time spent on operations and strategy.
“No matter the scale of your firm, you need to know where you’re going in order to make better decisions today,” said Yuen. “With Planned Profit and Profit Drivers, our customers don’t have to guess. They are empowered to make useful decisions faster than ever before.”
To book a demo of Planned Profit Report and Profit Drivers, please visit https://monograph.com/demo.