The Professional Services template combines some of the key metrics professional services businesses should focus on. These metrics are split across the Professional Services Financial Metrics and Professional Services Customer Metrics pages in Spotlight. To make the most of the Professional Services template, you will need to:
Most professional services metrics require financial and non-financial data. Therefore, you will need to collate and enter the following non-financial information (actuals and target) into Spotlight:
You can manually enter the data into the non-financial tab under Customise Data. Alternatively, enter the data into this Excel template and import it into Spotlight using the Excel import function on the Import tab.
Explanation: Measures the revenue gained from each available hour. Shows the actual hourly rate at which the organisation is generating revenue.
Formula: Trading revenue / time (billable hours + non-billable hours)
Report codes used: REV.TRA, TIM
Explanation: Measures the amount of time billed vs. the total amount of time available to be billed. This demonstrates the productivity of employees.
Formula: Billable hours / (billable hours + non-billable hours)
Report codes used: TIM.BIL,TIM.NON
Explanation: All billable hours for the month.
Formula: Billable hours
Report codes used: TIM.BIL
Explanation: Average revenue per month based on individual employees.
Formula: Trading revenue / Staff total
Report codes used: REV.TRA, STA.TOT
Explanation: Measures how well a business and staff are performing. A higher ratio means that staff are performing less successfully. Also tracks the organisation's overall sales efficiency.
Formula: Revenue / (direct wages + overhead wages)
Report codes used: REV.TRA, EXP.COS.WAG ,EXP.WAG
Explanation: Shows the number of new customers per month compared to a target.
Formula: Number of new customers
Report codes used: CUS.NEW
Explanation: Shows the percentage of enquiries that actually end up purchasing the product.
Formula: Sales leads / sales closed
Report codes used: SAL.LEA, SAL.CLO
Explanation: Shows the average revenue received per customer. Over time, you would want to see this growing as this indicates customers are spending more.
Formula: Trading revenue / total customers
Report codes used: REV.TRA, CUS.TOT
Explanation: Measures the satisfaction gained from customers based on their experience of your services and products provided.
Formula: Customer satisfaction
Report codes used: OPR.CSR