Blog
Invoicing 101: How to Improve Your Invoice Process
The foundation of a successful billing process? Your invoices. Learning how to improve your invoices? Simple. The Invoice Problem Invoicing has the potential to make or break your AEC firm’s billing process. Why? Because if your invoices aren’t right, it means more work. More work going back and forth with your client to resolve a…
Read MoreThe Importance of Working Capital for Your AEC Firm
Properly managing your working capital is necessary to ensure your architecture, engineering, and environmental consulting (AEC) firm is able to cover current obligations, improve operational efficiency, and invest in the future growth of your business. What It Is At a high level, working capital is an important financial metric that helps AEC firms assess their…
Read MoreThe Top 3 Concepts Every AEC Accounting Manager Should Know
Without an Accounting Manager’s ability to manage and communicate the health of the business, stakeholders cannot make well-informed decisions. In understanding these three concepts, it will help shape the foundation you need for that communication. Having gotten to this point in your accounting career, I believe it’s safe to say you’re already familiar with the…
Read MoreThe Ultimate ERP Glossary for AEC Firms
150 Most Commonly Used ERP Terms in the AEC Industry Have you found yourself searching online for phrases like “Effort at Completion”, “Prevailing Wage”, “EVM” – or any other common architecture, engineering, and environmental consulting (AEC) industry term? Well, you’ve come to the right place. With 150 terms in The Ultimate ERP Glossary for AEC Firms,…
Read MoreShould We Go Glocal?
Entering a new international market is not a decision you make overnight. It requires significant research, planning, and change. Is your firm prepared? To help you succeed in the international marketplace, we’re kicking off a series of blog posts about glocalization best practices and recommendations for effectively doing business internationally. Continue to follow along with us to learn…
Read MoreThe Six Key Ingredients of a Great Manager
I have to admit it—I am a perfectionist. As an executive leader in my organization, I expect a great deal of my people. I expect us to innovate, to deliver with the highest quality, to be passionate, and to drive ourselves to exceed expectations. In short, perfection. The Oxford dictionary defines perfect as, “Having all the required…
Read MoreImplementing Earned Value Management in a Design Consultancy
Earned Value Management (EVM) is a technique well-suited for professional services organizations, yet many design consultancies struggle to harness it. However, through thoughtful use of process and technology, your consultancy can make EVM stick – and enjoy improved project delivery. To help you succeed in this, here are five process and technology tips for implementing…
Read MoreAdvanced Earned Value Management Metrics for Design Consultancies
Ben Franklin’s proverbial words “time is money” have special meaning for design consultancies, as successful delivery of professional services involves navigating the intersection of project schedules and project finances. Earned Value Management (EVM) provides direction at this intersection by offering a variety of metrics to assess project health and drive project performance. Let’s build on…
Read MoreHow to Plan Successful Change Initiatives
Only one in four change management initiatives are successful over the long term. Or more importantly, 75% of organizational change programs fail to sustain initial gains, according to a survey by Towers Watson. All too often, I hear business leaders outline the need for organizational change. From adding a new product to restructuring the company to adopting…
Read MoreAn Introduction to Earned Value Management
Is the project on track? The question is simple, asked every day by design consultancies and their clients. The answer, however, can be hard to come by. All too often, project complexity, disparate project management systems, disconnected internal processes, or some unfortunate combination of these factors can cloud a project manager’s ability to clearly view…
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