New Monograph Functionality Improves Financial Health of Architecture and Design Firms
Monograph, a leading operational platform designed to help architects and engineers oversee projects, timesheets and forecasts in an integrated and simple interface, has launched its latest add-on feature, Planned Profit Report and Profit Drivers . At the company’s first-ever virtual conference, Section Cut, in August 2021, Monograph announced the introduction of the Planned Profit Report and Profit Drivers, designed to provide architecture and design firms with a better understanding of their profitability.
The Planned Profit Report allows subscribing companies to enter information about their staff’s salaries as well as their overheads, providing additional visibility into a company’s financial health while helping them increase profits. This report offers simple, well-crafted terms and graphics to help architectural and design professionals understand the expected profitability of their business. Profit Drivers is the first tool of its kind that shows you which categories are making you the most profit, which includes project types, clients, team members, and phases.
âYou don’t need a finance degree to understand the benefits,â said Robert Yuen, CEO and co-founder of Monograph. âThe Planned Profit Report gives businesses and their operational leaders a better understanding of their organization’s past and future profitability. Profit drivers show them what kind of projects have made a profit and which haven’t. Customers naturally want to understand the reasoning behind their profit gains or losses, and having the ability to observe revenues and costs for different time periods will begin to satisfy this curiosity.
What types of projects earn you the most? How do you know which customer is the most valuable? And what kind of fees should we charge? Business leaders can answer these questions using profit drivers to visually understand which category is generating the most profit, enabling them to make data-driven decisions to drive more profit in future projects. .
Reinforcing its mission to improve the architecture industry, Planned Profit Report and Profit Drivers will join Resource as key features launched by Monograph in the past calendar year. Both add-ons focus on streamlining practical operations to a centralized platform, reducing time spent on administrative tasks, and increasing time spent on operations and strategy.
Since the launch of Planned Profit Report and Profit Drivers, Monograph has shared its new add-on functionality with several architectural firms and received positive feedback. âThe Planned Profits Report is very useful in our monthly meetings, allowing us to forecast our financial health over the next three months,â said Dawn Zuber, FAIA, director of Studio Z Architecture. âBeing able to see what’s coming up and project our profits is extremely helpful. Adam Gayle, Architecture Director of Level Design, added, âProfit drivers have become very useful. Usually, it takes time to collect this information and organize it on an Excel spreadsheet. So it is very useful to have them on hand, especially for our quarterly review meetings.
âNo matter the size of your business, you need to know where you are going in order to make better decisions today,â Yuen said. âWith planned profit and profit drivers, our customers don’t have to guess. They are empowered to make meaningful decisions faster than ever.
To book a demo of Planned Profit Report and Profit Drivers, please visit https://monograph.com/demo.
About the monograph
Monograph is a convenient operations platform suitable for the architecture, design, engineering and construction industries. Founded in 2019 by architects Robert Yuen, Alex Dixon and Moe Amaya, the tech company has helped businesses manage more than $ 400 million in projects of all scales. The cloud-based system is intuitively designed for AEC professionals to oversee projects, timesheets and forecasts in a simple, integrated interface to inform decisions about their business and projects on time. real. The evolving features of Monograph reflect the specifics of the profession as each component draws on the experiences of the founders in the field and what they discovered that was missing from the architect’s toolbox. The Monograph team, which was named ArchDaily’s Best Practices for Young People in 2020, is disrupting the status quo by ridding businesses of inefficient spreadsheets and tools that deal with cost, resources and project management as separate activities. With Monograph, professionals have a solution that synchronizes a company’s range of tasks and responsibilities into a cohesive workflow. Increasing efficiency ultimately helps businesses deliver a better customer experience, as well as build and operate a more collaborative, transparent, and profitable business.
For more information, please visit https://monograph.com/.