Last Updated on June 27, 2013 by New-Startups Team
If you run an agency or a team building out services for client’s, questions are going to arise. Questions such as: which projects are profitable, which projects are wasting resources, what activities yield the most, or what kind of discounts can be offered to still be profitable?
It’s easy to compare clients based on turnover, but for a company it’s important to know what type of work is paying off the most. Numbers, not feelings help make decisions for a business. Costlocker is for the companies that sell their own hours to assess the profitability of projects in real-time. It helps monitor where costs are running away, whose to blame, client comparisons and work hours in a very clear appropriate context. It monitors the performance of projects, staff and a company to ensure successful profitability analysis and strategic planning.
For instance if you are running an agency for a few years, growth has been inclining regularly and problems have switched from launch to maintaining profits, while this is all occurring agenda, accounting, number of employees is also growing. How is this being analyzed to ensure successful business maintenance? These were the issues that arose for 2FRESH and why they began the release of Costlocker. “In the agency we didn’t want to spend hundreds of hours a year evaluating the efficiency of our projects. We were looking for a functional web solution that would provide us with the required information immediately. But we couldn’t find one” explains Kamil Skramuský, Business Directory of 2FRESH, who also took part in the creation of Costlocker.
Coming in October, Costlocker is a web app solution that takes the place of expensive platforms that require installation, teaching and additional upkeep expenses. The management profitability tool will let you focus your energy on clients and projects by showing easily what actually brings in the profits. Tomáš Wojcik, CEO of the 2FRESH agency, describes testing the project on his own company: “After putting real projects into the prototype we discovered that the majority of calculations was undervalued by 30% in comparison to the actual amount of time worked. In the course of a multimillion-crown turnover, we’re talking big money. But Costlocker will make the money back for us in time.”
Costlocker is currently being tested with various agencies, but is expected to be available for all in October to monitor profitability in real-time, keep track of turnover, call attention to problems, show efficiency of employees and present the fact in clear context with useful design.