GroupThinq Features
GroupThinq is a single cloud-based application that replaces dozens of disparate software apps for running your consulting practice. See some of the features below.
Smart Time Management
Smart timesheets, vacation and sick tracking, vacation approvals, project budgeting, etc.
Expense
Reporting
Expense tracking & reports, In-House expenses, project expenses tracking, etc.
Project Management
Project financials, invoices, purchase orders, bills, phasing, proposals, scope changes, status.
Business Intelligence
Business reporting, work-in-progress, PM Performance, division reporting, staffing, etc.
Collective Intelligence
Job status reports, smart notifications, realtime feedback, utilization reports, job scores, tasks
Smart Time Management
Smart Timesheets
Timesheets that provide realtime feedback about the status of the phase budget as people work. Smart timesheets influence behaviours about how time is spent and time becomes a visible commodity. Vacation and Sick time is tracked directly in the timesheets and vacation requests are sent to supervisors for approval.
Vacation / Sick Tracking & Approvals
Track all leave time simply and efficiently in GroupThinq. When staff file a vacation request, they can see other approved vacation requests, minimizing vacation overlap. All leave requests are sent to the right person for approval. Once approved, leave requests are tracked and visible to the administrator. Remaining vacation or sick time is shown on everyone’s springboard.
Realtime Project Updates
The time remaining on every phase of the project is accessible to everyone directly through their timesheets. Staff can see the total days remaining for the project and for each phase of the project. Realtime feedback allows the team to make smart, accountable decisions about their time.
Expense Management
Expense Reports
Track everyone’s expenses in the expense report and associate every expense to a project. In GroupThinq, it’s easy to track reimbursable expense, store an image of the receipt, and even create “In-house” expenses like printing, plotting, binding, or other expenses that don’t have a receipt. Track all employee expense report payments directly in GroupThinq.
Expense Approvals
All completed expense reports are sent to the controller or supervisor for approval.
Project Expense Tracking
All expenses can be cross referenced to projects for incorporation into invoices. Digital copies of invoices can be saved in GroupThinq.
Project Management
Project Setup
Set up the basics of your project including the team, the client, the project fee type and due dates. Set up either projects or proposals. Project numbers are automatically assigned, and the project becomes available in staff timesheets. Set up projects as either ‘hourly’, or ‘fixed fee’ so that everyone can see the difference in their timesheets.
Project Financials
Set up all the financial information about your project including the fees, expenses, purchase orders, scope changes, division allocations and attach proposals or sensitive documents in a secure location, invisible to other staff. All invoicing, bill payments, timesheet financial summaries and other financial information is located in the Project Financials section.
Purchase Orders
Set up purchase orders for your sub-consultants so that bills can be tracked and paid as they come in on the project. Send a copy of the PO directly to your sub-consultant so they have a record of the amount allocated, phases due and payment terms.
Bill Tracking & Approvals
As bills arrive from your sub-consultants, your controller can request approval of the bill from the project managers directly within GroupThinq. Bill tracking connects your controller seamlessly to your PM, allowing them to both agree when to send payment to the contractor for services completed.
Invoices
With GroupThinq, your Project Manager or Supervisor can invoice the project directly. All invoices are sent directly to your controller or accountant after they are created. Draft invoices are not sent until they are finalized. Time can be imported from timesheets into invoices, with fees for each staff member ready for inclusion on the invoice. A summary of all previous invoices are available within every invoice so it is visible what has already been invoiced and how much is remaining to invoice.
Project Status Reports
Gather a complete status report of every hour worked (at the appropriate billable rate for every staff member), on every phase of the project and assess the financial success of each project in realtime.
Project Phases
Assign fees to each phase of the project so staff know how much time has been assigned directly in their timesheets. Breaking the project down into visible phases, makes it much easier to bring the whole project in on-budget, or to see where over-runs happened in the process.
Project Rates
Set up individual project rates for your team on every project. Rates can be varied for every project easily in GroupThinq. Once people start working on the project, you can see everyone’s time and financial contribution to the project directly from this tab.
Business Intelligence
Active Projects Report
See all projects at a glance, including the project status, who is leading, and the date of the last invoice so that invoices are not forgotten for work completed. This report is perfect for your Monday morning staff meetings.
Revenue Reports
Once you start invoicing in GroupThinq, see where your annual revenue is coming from by division or by client type. This report gives you a better sense for the origin of your revenue so you can focus your marketing or coordinate your divisions.
Active Projects Summary
Track who is leading all of the active projects, the amount already invoiced and the amount remaining to invoice (work in progress). This report is perfect for seeing who is overextended or who has capacity to manage more jobs.
Invoice Reports
See all your invoice summaries monthly and annually, including draft invoices and final invoices. You can also see the aged receivables for all invoices in this section, or go directly to the aged receivables report.
Staff Utilization Report
See how billable staff are every month and how closely they are meeting their billable targets. Utilization Reports are one of the key reports that should be viewed by every business owner every month. Low staff utilization can create financial pressure on your firm if staff aren’t staying billable.
Aged Receivables Report
See all your aged Receivables in one place and keep track of payments with notes on each overdue invoice. You can also see the average age of invoices from each client so you can pay closer attention to clients that let the invoices age longer.
Timesheet Scores Report
Since GroupThinq is a realtime project accounting application, it is important that staff keep up-to-date timesheets daily in order to give a real picture of the budget remaining on a project.
Timesheet scores provides a summary of how frequently staff are completing their daily timesheets. A score of 100% means that timesheets are completed every day. A score of 20% means that on average, people are only completing their timesheets once per week. Accurate project accounting requires daily timesheet completion and that can now be tracked easily in GroupThinq.
Work-In-Progress Report
View the future with the Work-in-Progress report. This report will tell you if you are short staffed or overstaffed for your workload depending on when the project deadlines are set. Understand your existing and future staffing needs better with this important report.
Proposal Tracking
Track your proposal wins and losses, time spent, proposal deadlines, and who is winning and losing proposals in your organization. See your proposal conversion rates, and how much non-billable time is being spent chasing new projects.
Coming in 2019...
We are hard at work on the GroupThinq Advisor, an artificial intelligence that will help guide you and your company to smarter business outcomes. Think of it as a virtual CFO, providing owners with better guidance and highlighting areas for further improvement looking at the whole company, the project types and the performance of teams (and even individuals) in your organization. Owners will quickly see the performance of their organization and what they need to do to improve it using the GT Advisor.
Collective Intelligence
Smart Notifications
Keep up-to-date and connected with smart notifications built into GroupThinq. New invoice notifications go to controllers, phase over-run notifications go to project managers, new bill notifications from controllers go directly to project managers, and vacation approval notifications and expense approval notifications are all channeled to the right people at the right time. Smart notifications are the glue behind collective intelligence.
Task Management
Coordinate your team with tasks to keep deadlines and budgets on track. Reduce your email load and keep all tasks associated with every project.
Approvals Management
Timesheet approvals, vacation approvals and expense approvals are all coordinated through the Approvals section of GroupThinq.
GroupThinq has all the tools your team needs to become organized, motivated and profitable.
GroupThinq’s collection of integrated tools are everything you need to run a prosperous consulting practice.
