How to Increase Profit with Better Engagement Management

By Claus Thorsgaard

Did you know that 20 percent of consultants spend in total one day or more per week (6-10 hours) on administrative activity? If each consultant could get even half of that time back, they would be able to produce an additional $15,000 in revenue each year.*

How'd you like to multiply $15,000 by each billable consultant in your firm? According to a recent IDC study, more than a quarter of consulting firms said achieving greater efficiency is a top priority, yet 1 in 3 reported that more efficient project management is a top challenge for them. So how can firms make day-to-day operations more profitable while still tackling client demands? It boils down to three key factors: accurately planning and budgeting projects, efficiently delivering work to reduce non-billable time and implementing a streamlined accounts receivable procedure.