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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
GroupThinq’s collection of integrated tools are everything you need to run a prosperous consulting practice.