NEED FOR SPEED
As consulting, audit, and tax firms fight to improve talent development, utilization, project profitability, and client satisfaction, the traditional "time and materials" business model which worked in the past is being steadily replaced by outcome-based pricing. Consulting clients are increasingly rewarding business outcomes rather than effort input and are negotiating prices accordingly. This marked trend towards fixed price and milestone-based engagements is both a means to drive up profit margins as well as a significant delivery and estimating accuracy risk.
A second major trend for consulting firms is the development of productized digital services creating recurring revenue streams that can be delivered more profitably. With these, revenue is even more divorced from the effort input, thus accurate estimating and pricing and the ability to track and mitigate risk becomes more critical during the proposal stage.
A final trend is an ever-accelerating pace of doing business, and your ability to be one step ahead will set you apart from your competition. Customers are expecting proposals in days, not weeks or months. Your sales team needs the ability to put together proposals faster than ever before.
All these trends point to the same thing, you need to rethink the way you estimate proposals. It is critical to both your growth and your margins. You can no longer afford to have your estimates die in an Excel spreadsheet. The good news is, with Twenty5, you can soon build a virtuous cycle of delivering more and more accurate bids faster by leveraging your growing project knowledge base and adding the expert input from your team - estimating is both an art and a science.
"The pricing and estimating solution developed by Twenty5 will add comprehensive and compelling capabilities to our portfolio, enabling our customers to submit bids faster and with more confidence and close the loop between bidding and executing projects"
Jonathan Rhodes, Global Head of Professional Services Industry, SAP
For consulting, audit, and tax firms, there are some essential capabilities needed for bidding for a new project. Here are the ones we believe are especially important to you.
PROJECT KNOWLEDGE BASE
Get better for every time
Gather proposal and project data and mine it for future bids. Define best practices for repeatable project types. Set up a new proposal faster and build upon the knowledge that you have gathered
Flexibility and control over applied rates
Manage cost, billing, and intercompany rates at any level; e.g. standard rates decks by business unit, in any currency. Overwrite rates for any proposal with appropriate audit trail and authorizations
"Pitch-ready" reporting and interactive analysis
Report based on a single source of truth. Slice and dice your proposal using our powerful price/cost workbench. Understand risk-adjusted cost and margins
RISK & OPPORTUNITIES
Proactively manage uncertainty
Manage risk & opportunities already from the proposal phase. Especially as you engage in fixed-price bids, early capture of risk will ensure you have appropriate contingencies in place
Simpler than Excel and more powerful
We want to delight our users, making planning simple and intuitive. With our responsive, interactive cockpit you forecast hours, days, or FTE by period, or plan using sophisticated formulas
A range of pricing strategies
Price using standard T&M, cost-plus, or fixed price strategies. Price fixed-price contracts using billing rates. Configure your own price strategies. Use different pricing strategies for different line items
CONTRACT & PROJECT SETUP
Seamless handover to delivery organization
Save hours of work for every won project by automating the creation of contract and project after a proposal has been won. Also, retain your estimated cost baseline for future comparison
VERSIONS & WHAT-IF ANALYSIS
Capture the iterative process
Creating proposals is an iterative process and now you can both capture each iteration in a new version and also do analysis to compare the versions
BENEFITS by ROLE
Different people will experience different benefits. As a whole, it can change the way you do business.
Deliver proposals faster
Flexible pricing options, such as fixed fees on T&M rates
Coordinate bid team
Compare estimated, planned and actual margins
Risk registry and contingencies ready to go
Proposal, Project, Finance Admin
Accelerate proposal setup
Automate project & contract setup when winning bids
Manage cost & bid rates
Below are some additional resources to help you learn more about our solution and how it might help you.