Understanding the dashboard
The Billing Efficiency Rate dashboard tracks organisational efficiency by comparing billable rates in XPM to actual average billing rates to clients. It identifies individuals who work more efficiently than standard, allowing you to assess Team Members' billing rates and their revenue contribution to your firm.
Why is it important?
The Billing Efficiency Rate Dashboard allows you to:
Pinpoint team members within the organisation who are working more efficiently than the standard, allowing you to recognise and learn from their practices.
Provide insights into how much revenue each team member contributes to the organisation, helping you assess their overall impact on profitability.
Make informed decisions for optimising resource allocation and improving profitability.
Explore the Billing Efficiency Rate Dashboard by clicking through the interactive demo below!
Interactive demo
Dashboard FAQs
What is the Billed Hourly Rate and how is it calculated?
The Billed Hourly Rate is the amount charged per hour for a team member’s work. It’s calculated by dividing the total invoiced amount by the number of hours recorded on their timesheets.
What is the WIP Hourly Rate and how is it calculated?
The WIP Hourly Rate represents the billable hourly rate for a team member’s work. It’s calculated by dividing the Work in Progress (WIP) amount by the number of hours recorded on their timesheets.
What is Recoverability and how is it measured?
Recoverability shows how well your firm converts WIP into client payments. It’s calculated by dividing the invoice amount by the WIP amount for each invoice. A higher percentage means you’re billing more than the WIP, which means more revenue.
What metrics affect Recoverability?
Recoverability is affected by two main metrics: WIP and Billing.