Plan resources and financials in tandem, in real-time
Dayshape’s unique real-time economics show you the impact of resource schedule changes on revenue, before you confirm any plans. This leads to informed and profitable scheduling decisions. Dayshape can integrate with your timesheet software and is built to handle complexity around rates and margin calculations.
Compare actuals against forecast live
Your engagements are too important for guesswork. Settling for reporting against month-old forecasts means it’s too late to take action. Monitor how engagements are performing in real-time to deliver optimal profitability and client satisfaction.
Automate profitability controls
Configure Dayshape to reflect your firm’s financial standards and expectations, and be notified when your engagements are going off track. If there’s a minimum target margin or revenue per hour, then you have the option to prevent engagements from being approved until the budget is right.
Predict and prevent overspend
Identify increases in cost before they happen. With real-time engagement economics, Dayshape highlights when engagements are heading off track, allowing you to take action sooner.
Engagement Financials – Frequently Asked Questions
In accounting, engagement or project financials measure the performance and profitability of a client engagement. Engagement financials are used by engagement teams to calculate the gross revenue of a project based on the fee, staff selected for the job, their charge-out rates forecasted, and the time spent on the engagement. As work begins on an engagement, a combination of actuals and predicted totals are measured together to track engagement performance against the budget set. Engagement financial calculations also take other metrics such as client discount rate into account to provide an accurate view of financial performance.
The key to success for any accountancy firm, no matter how big or small, is their ability to effectively plan, utilise, and optimise their people’s time to maximise profitability, quality, and client satisfaction. Engagement management software is designed to empower your firm to achieve exactly that. By optimising the resource and engagement management process end-to-end, the right engagement management solution can allow your firm to eliminate unnecessary manual steps and make more informed decisions, faster. Some key features of engagement management software include automated project controls, configurable approval workflows, and live engagement economics.
For optimal profitability, engagements must be planned accurately, managed efficiently, and use the right people and skills at exactly the right time. Engagement management software optimises this process end-to-end, from planning to budget approval, and project delivery. By providing ease of access to the right information, engagement managers can efficiently plan and accurately price engagements. With greater visibility and control over engagement financials, engagement management software can empower teams to deliver more strategic value and profit for your firm.
Engagement economics provides an overall snapshot of how engagements are performing by comparing actuals against forecast in real-time. In a single view, managers can create (and later change) their resourcing plans and see the direct impacts any changes will have on profitability. This means engagement financials and resources can be managed in tandem to closely track engagement performance. A key benefit includes the ability to set alerts to flag when engagements are at risk of exceeding acceptable budget thresholds. This ensures teams can proactively predict issues and prevent overruns. Read our guide to engagement economics.