Venzo Analytics increased the billing rate by 384% in 16 months
TimeLog provides CEO in VENZO Analytics, Søren Anderberg, both the option to increase the financial key figures and secure employee motivation.
The tremendous increase in the billing rate with almost 400% was crucial for us to grow, hire new employees and gain ground. Also here, TimeLog has provided us with an internal overview which also favours the individual employee's interestsVenzo Analytics
Before the business intelligence company VENZO Analytics started to use TimeLog and implemented a structured approach to time registration, they could not see the status and agreements for customers and projects or how the employees spent their time
Asked how TimeLog has impacted their business, CEO Søren Anderberg doesn’t beat around the bush:
- An increase in billing rate of 384% in 16 months
- The option to plan the employees’ work to motivate them more
- Easy overview of all of the company’s operational key figures in one dashboard
Would you recommend TimeLog?
"Yes, absolutely. Getting a data driven and solid overview of what I as CEO want with the company, the promises made to customers and how the employees spend their time – that gives me a good nights sleep. And TimeLog is by far the best system for this.”
Structured time tracking made the billing rate explode
Before, everyone tracked their time in very different ways. But then we added rules for how to track time – a time tracking paradigm – and together with a new leadership focus, we increased the invoicing potential by 384% in 16 months
Before VENZO Analytics started to use structured time tracking in TimeLog, they didn’t know how much time they spent on the agreements with their customers.
The result was that they didn’t invoice enough.
Therefore, it was crucial to Søren Anderberg to introduce a structured approach to track time in TimeLog when he joined VENZO Analytics.
VENZO’s time tracking paradigm
Søren Anderberg has introduced a time tracking paradigm where the employees can register their time within four overall categories:
- 1) Direct billable time
- 2) Indirect billable time (service agreements)
- 3) Service and product development (which can be depreciated)
- 4) Internal time (meetings, education, administration, sales)
The paradigm ensures that the employees track time in the same way, so he can see the key figures he wants and the customers are invoiced correctly.
And the approach has given the company a complete overview of project progress, if they deliver as agreed with the customer and the exact size of the invoicing potential.
Actually, it’s now a discipline to hit the target as precisely as possible on each customer agreement.
We are much better at delivering on schedule. Once we’ve agreed on something, we’ve 100% overview of what we’ve delivered down to every minute.
TimeLog lets the CEO to sustain a healthy work-life balance
Even though the business-related benefits are very specific, it’s especially the option to secure the employees’ motivation that interests Søren Anderberg.
To him, it’s crucial that the employees stay motivated in their work, but also prioritise life outside the workplace
That's why he uses TimeLog to maintain a balance between the employees’ project time, their performance and their personal life.
We set the bar high, so the employees have something to strive for. In TimeLog, they’re always added to more projects, and in the system I make sure they have colleagues to support them. But they should also spend time on education and prioritise time off. In the balance between our projects and their personal life, TimeLog is a crucial tool.
And it looks like it works.
Since VENZO Analytics implemented a new way to track time in TimeLog and started to grow the billing rate two years ago, Søren Anderberg has not received a single letter of resignation.
Job satisfaction and performance figures in TimeLog
To secure both performance, motivation and job satisfaction in VENZO Analytics, Søren Anderberg keeps and eye on several things in TimeLog:
- Which projects the employees work on right now
- What the allocation percentage is (project time compared to normal working hours)
- What their billing rate is
One total overview of the business with TimeLog + Microsoft Power BI
Where it previously was a challenge to get an overview of status, project progress and employees, Søren Anderberg now has one single overview of everything in Microsoft Power BI.
VENZO Analytics has build their own overview in Power BI, where they pull all data from TimeLog.
This means that Søren Anderberg constantly has an overview of:
- Billing rate for each single employee
- How much time they spent on customer service
- Time consumption for each customer compared to the agreements
- Missing deliveries on contracts
I know from day to day if we are ahead or behind schedule. And I know where to spend my time. It’s fantastic to be able to be able to keep your ear to the ground.