We frequently get asked how to choose the right metrics to report on, whether for client reports or internal ones. Ideally, any report you send out will be easily consumable yet impactful, so you want to be careful not to weigh it down with way too many metrics. Go for metrics that are direct and that clearly get your message across.
When it comes to BrightGauge, a lot of our customers tell us how useful it is to see how their peers are using the app, so this month we’re highlighting Weston Technology Solutions’ internal Agreement Performance Report.
Weston Tech has been in business for over 25 years and at the core of their managed IT solutions is a passion for being a true partner - not just a vendor - to their clients.
Brock McFarlane, CEO and Founder of Weston, shared that their team works off of fixed-fee agreements, a departure from the hourly agreements they previously used. For Weston, fixed-fee contracts allow team members to be more valuable and efficient with time, but reporting on these contracts can get tricky since it’s not based on hour-by-hour work.
What Brock has found is that looking at Gross Margin is a truer representation of how a contract is doing versus just how many hours were billed. Identifying their most important metric - Gross Margin - laid the foundation for how Brock and team would build reports moving forward.
Brock also includes Hours by Tech within the reports, as any red flags in those hours can paint a picture as to why a margin percentage may be too low or too high.
Reporting on a client’s margin percentage can pinpoint where inefficiencies lie - perhaps a tool a client is using is giving more trouble than it’s worth - so that they can operate at an optimal level.
Also, by managing Gross Margin, Brock is sometimes able to avoid raising contract prices in the future, which his clients love and is a big reason why they repeatedly invest in Weston. This is a perfect example as to why consistent reporting is hugely important.
We’ve recreated Weston’s Agreement Performance Report for your reference:
Think this report would be useful for your team or want some more info? Check out our Report Key to recreate it yourself or feel free to reach out to success@brightgauge.com and we’ll be happy to help.
Thank you to Brock and Weston Tech for sharing your insights!
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