What’s in store for your business in 2023? Do you have big plans to expand your firm, grow your client base and send your revenue soaring? Whatever your big hairy audacious goals are for the new year, it’s always good to have the right foundation in place. Here’s 5 DesignDocs features that can boost your firm’s growth.
1. Time-tracking Reporting
Time is money. Whether you bill projects by the hour or with a flat fee, if you want to stay profitable, you need to keep track of your team’s time. Are hourly projects taking less time than expected and is it time to raise your rates? Are flat fees accommodating unexpected delays or changes enough to leave you with a reasonable profit margin? With DesignDocs’ time-tracking feature, you’re equipped to find out.
DesignDocs' unique feature for flat fee billing creates special variance reports in which the "actual" numbers logged can be analyzed and compared to the flat fee rates. Designers can easily report and keep track of time spent on projects and use filters to compare the time spent versus the amount billed to the client.
DesignDocs' time-tracking reporting feature accelerates your firm's growth because you can stay organized with tracking hours and create fees relative to the time spent on specific projects.
2. Item Costs and Reporting
You’ll know from experience, keeping track of the changing costs of individual items for clients can be hectic. Nothing clogs up the works quite like a billing error. Worse, you could lose money because a price change from a vendor wasn’t reflected in an invoice to a client. Luckily, DesignDocs’ combined accounting and project management software has you covered.
DesignDocs' item costs and reporting feature easily tracks the changing costs of individual items for clients using vendor invoices, adjusting the price, and creating custom reports. Your team can focus on the creative elements of a project, safe in the knowledge that DesignDocs will automatically flag any price adjustment, making invoicing easier for you and your clients.
Instead of worrying about potential profit loss, you can accelerate your firm's growth with this DesignDocs feature by easily keeping track of item costs, allowing you to proactively make decisions before it’s too late.
3. Collecting Payments
Who has the time to chase down unpaid invoices? Not you! If you’re focused on growing your firm, keeping track of payments is as vital as tracking time spent and item costs. DesignDocs' built-in credit card processing feature allows designers to maintain a stable cash flow by collecting invoice payments efficiently and accurately. Clients can easily make online payments that are promptly transferred.
Using this feature of DesignDocs' all-in-one software means that payment collections are one less thing you have to worry about. You can be confident in your cash flow while seeing the results of the accelerating growth of your firm.
4. Financial Reports
If you want to grow your firm, you’ll need a clear understanding of your finances to make smart choices. What you need is a simple, straightforward way to review all factors, such as costs, margins and budgets. Again, DesignDocs has you covered!
From sales and profit reports to budget reports and beyond, DesignDocs will help you keep track of all the important factors. To top it all off, we’re here to provide support and our team has helped numerous companies increase their profitability and gain insight into their firm's overall effectiveness.
DesignDocs' project financial reports can help you make smart business choices and keep on track with your firm's increasing growth.
5. Project Summaries
You can grow a business without clients so maintaining positive client relationships is non-negotiable! One way to nurture these relationships is with open communication, keeping clients updated on the progression of a project.
DesignDocs' built-in project summary feature lets designers produce clear and concise reports that show all the moving parts and detailed descriptions in different areas. Since this information is easy to access, you can keep your clients informed of where their budget is going throughout a project, leaving them feeling comfortable and confident in your process. This DesignDocs feature lets you easily display your practical project management skills and constantly communicate with your clients about the process, building trust and accelerating your firm's growth.