In the past few weeks, we’ve been working on content around centralizing your client relationship data so that you can do a deep dive into those relationships, their status, inclusions and revenue with the hope that you can build a better practice once you have a decent source of truth.
This week, we’re excited to introduce you to the pipeline widget within Practice Ignition, another great addition to the dashboard. The new pipeline functionality allows you to visualize your momentum and success with the firm.
How to use the new pipeline widget
To use the pipeline widget effectively, it should outline your progress towards your growth goals by highlighting your trends month on month:
- Conversion rates $ and % to grow each month
- New $MRR up on last month
- Time for a client to accept should be trending down – highlighting you’re getting better at converting more clients.
If you can achieve the above changes in those key metrics, you’ll see a boost in revenue in coming months and start to achieve the compounding monthly recurring revenue most cloud practices are striving for (even the big 4) as they move to a cloud business model.
Don’t fudge the data
Make sure you send out every proposal and write it off by lost (if the client doesn’t accept) or revoked (to cancel duplicates or proposals sent in error) so you get accurate metrics for % conversion, time to acceptance and an accurate funnel picture.
Future of analytics at Practice Ignition
We are working towards the next layer of depth for analytics and data research so you can segment and report per partner, team, service, tag and the list go on….
Stay tuned for further development as we’ll be focusing on how you use data to improve your decisions in coming weeks, so you can better use Practice Ignition to plan and run your practice more efficiently.
Using the dashboard to plan your year
Following on from recent blogs on business intelligence, we wanted to share how you can use the existing dashboard to plan, compare and exceed/get back on target for the year you’re currently working on.
If you are interested in using Practice Ignition and want to learn more, join us for a free webinar July 26, 2017 at 4 PM ET/ 1PM PT.
Practice Ignition is the smartest solution for tax practitioners who want to take the process of sending Proposals, Engagement Letters, Invoicing And Payment all in one. This company provides a great service tax and legal professionals all over the world. Join me as I introduce Ryan Embree from Practice Ignition who will walk you through step by step instructions on how to use this super easy template software. What Practice Ignition has done is take the client onboarding process including proposals, engagement letters and billing clients super easy and fun. This elegant template software takes what would normally take any tax, accounting or legal professionals hours and streamlines it to minutes. All attendees will receive a two week for trial for attending this webinar since you will become a pro after one easy training webinar.
Get an education and get excited with your free trial. We know you will simply love this client template software as much as everyone does. It makes sense and saves you hours of work! All attendees receive free 14 day trial.
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