How can you see what deals you have in your sales pipeline? And how can you predict how much revenue to expect from those deals if they close?
Find out in our first in a new series of videos, designed to help you make more confident business decisions.
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If you want to estimate the budget for incoming work, you can easily build out a tentative project with placeholder assignments. Placeholders have a discipline role and bill rate, so you can build out a project estimate based off what you know you need from a staffing perspective.
You can assign custom fields to tentative work to identify things like probability of winning, project priority, or whether or not the project has been staffed.
From the project portfolio, you can see a list of all of your tentative projects, and you can sort your portfolio by these fields.
Now, let's say you win the work.
How do you find who are the right people for the project?
On the people view of the Schedule, you can filter your team by discipline or skill, and then reassign the placeholders you scheduled by who is the most available.
On the project view of the Schedule, you can view all tentative timelines, and if those projects have teams staffed yet or if they're still in the placeholder stage.
Now, to understand what your forecasted revenue and utilization is based on your pipeline of work, navigate to the analytics section.
You can use a time and fees report to pull a list of all of your projects to do revenue forecasting for a certain period of time, and group by month. If I think these projects are less than 75% likely to win, I may leave them off my forecast.
You can use the utilization report to understand the capacity of your team for a certain period of time. Just like the last report, you can choose to include or exclude projects with a certain likelihood of winning, to be more strategic about when to hire, bring on a freelancer, or say yes to other project work based off what's in your pipeline.
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