GIGO or Garbage In Garbage Out is a concept common to computer world which states that, quality of output is determined by quality of input. In other words input of nonsense data will produce nonsense information from the computer.
EFF Factor software offers a new approach with a concept of WIWO or wisdom in wisdom out.
Let’s see how it works!
EFF Factor is a software, mainly for professionals or any firm engaged in rendering services. It helps the firm to track and improve it’s profit by managing its projects / assignments efficiently. It also helps to track and improve the overall profit of the firm.
Time tracking is essential and the most important part of EFF Factor.
Why do firms track time?
• To find cost incurred on projects.
• To decide bills to be raised.
• To earn desired profit.
EFF Factor is designed to reverse the order upside down.
EFF Factor process
1. Decide profit to be made -(use Profitability monitor framework to set the profit target and its components)
2. Decide cost to be incurred (i.e. time to be spent) on each assignment based on expected fees (use Budgeted bill value feature)
3. Track cost being incurred (i.e. time being spent) and profit being made on the projects- (Use open projects)
4. Take informed decisions of approving automatically generated bills (use bill console)
5. Ensure that profit target of the firm is actually being achieved on real time basis (use Analytics and profitability monitor)
Key is greater focus on information in Rupees by the top management team and not so much on information in hours.
Tracking time is means to an end, and not an end in itself.
Please contact us on +919892128838 or mail us on contact@efffactor.com for arranging a quick interactive session of EFF Factor to get a better picture of the above features to put your firm on the path of higher profit and growth.
