Leveraging AccountSight means being more productive in tracking time and expenses, generating and sending invoices, and tracking payments history of company. This reduces the cost of using AccountSight while increasing your revenue opportunity.
AccountSight Savings Calculator makes it easy to estimate the return on investment for your team. Sign up now and discover how AccountSight can help you save time, money, and stress.
Your return on investment with AccountSight
What difference does it make?
AccountSight enables leaders to make Apt decisions for a global workforce, ensure operational resiliency, and identify opportunities for collaboration and optimization across your enterprise.
Return on Investment FAQs
The Return on Investment (ROI) calculation is a technique used for estimating one’s financial gains and savings by implementing the AccountSight application. It is a metric used to evaluate the effectiveness of an investment or to compare the returns of other investments not only financial gains but also other intangible gains. A return on investment (ROI) is measured relative to its initial capital outlay.
The ROI calculation is relatively easy. A percentage or ratio can be calculated by dividing the return on an investment by the initial investment.
To start with, enter the total number of employees contributing, assigned to a project and filling project timesheets. The next step is, to calculate how much potential minutes per employee can be saved based on average hourly rate.
*Savings is the additional billable time revenue determined by multiplying the minutes saved per day, per user, by the prorated hourly rate (saved by 5 employees who bill at say $50/hour Average (Approx.) gains $20.83 of billable time a day). The daily gain is then multiplied by 22 working days in a month to determine the monthly savings (and multiplied by 12 months for the annual savings).
5 Minutes / 60 Minutes = 0.083 hours
0.083 Hours * $50 = $4.16
$4.16 * 22 no. of Days = $91.67 for one employee per month payable
$91.67 * 5 employees = $458.3 for 5 employees per month payable
$458.3 * 12 months = $5500 saving annually
*Gain = Savings – Investment on the platform
When making choices for your business, it is crucial that you have a firm grasp on your profitability and the impact of your investment will have on the operations. Some of the advantages of calculating ROI are enlisted below:
- Better resource allocation: By measuring ROI, you can determine which projects or jobs are lucrative and which ones are not. This approach can aid in the optimization of resource allocation by enhancing efficiency and effectiveness.
- Increased output: Tracking return on investment (ROI) lets you zero in on the activities that drain your resources the most, so you can simplify them and boost your production.
- Enhanced decision-making: Accurate ROI estimates allow for more well-informed choices on where to put your time and money. Projects and activities can be prioritized in accordance with their expected return on investment using this method.
- Increased profitability: Uncover prospects for increased profitability by tracking time and calculating return on investment (ROI). In order to maximize profits, you may find that some clients or projects are more valuable than others.
To sum up, a time-tracking platform combined with ROI calculations may yield insightful information that can be used to boost operations’ efficacy, output, earnings, and popularity.