Service sector enterprises can be classified into: No record maintained of time spent on various assignments/ projects Some manual/spreadsheet record of time spent compiled periodically purely for billing Some project management software used which tracks time being spent on various assignments by various employees – mainly for payroll & billing purposes. When such entities move on to EFF Factor the main challenge is defining activities or tasks for different types of assignments/ projects or in other
EFF Factor smart practices – Part II This is a compilation of practices based on wisdom of experienced professionals / EFF Factor users from different fields. Use of estimate Estimates should be used only when after conversion into project it is expected to be reused multiple times. Estimates may be used under following situations: If number of teams with specific employees as members are there to carry out a large number of standard job as
EFF Factor smart practices – Part I This is a compilation of practices based on wisdom of experienced professionals / EFF Factor users from different fields. CTC of every user – No adjustment may be made for anticipated wastage of time, for calculation of CTC. This will ensure availability of realistic cost data on “idle time “and “office time”. Billing rates of every user- Adjustment may be made for anticipated wastage of time for arriving at appropriate billing rates.
Are our clients happy? How often is this question asked by the owners or top management teams of organizations in MSM sector engaged in rendering service? Clients staying with you for long may not be a sufficient reason for you to believe that they are satisfied and happy. It could simply be clients’ inertia. Or may be that he or she is not willing to pay what is known as switching costs like- Hassle, time
Enterprises rendering services as accountants, lawyers, architects, engineers, information technology firms, consultants in different fields face different challenges when it comes to efficient running of such enterprises. The people at the helm, with great talent, knowledge and experience in their own field are at times found to be struggling to achieve decent top line and bottom line. Most of the times the lack of good performance in such enterprises is not due to lack of