In a partnership, the ultimate measure of profitability is (or should be) profit per partner, which is driven by three main factors, margin, productivity, and leverage. Sadly, many firms lack reporting systems that equally recognise diverse paths to profitability. Instead of one-size-fits-all goals, empower each practice or partner to set a 'Profit per Partner' target. Let them find the ideal blend of margin, productivity, and leverage. Think of “profit per partner” as the pro way of saying “return on equity” in professional firms. Partners invest time and effort (let's call it “sweat equity”) and get a claim on the firm's profits. Now, add up the partner's investment and the non-partner staff's salaries (think of it like debts with a fixed interest rate). This sum is the total assets working in the business. Why does it matter? It helps measure how well the sweat equity and staff salaries contribute to the firm's success. Easy, right? #ProfitPerPartner #ProfessionalFirms #Profitability #ReturnOnEquity #BusinessMetrics #DataAnalytics
About us
We are guiding businesses to do better, with people-first intelligence software.
- Website
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http://supo.co.uk/
External link for SUPO
- Industry
- Business Intelligence Platforms
- Company size
- 11-50 employees
- Headquarters
- Bristol
- Type
- Privately Held
Locations
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Primary
Bristol, GB
Employees at SUPO
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Helga Saraiva-Stewart FF.ISP
✨ EXECUTIVE DIRECTOR of SALES * BOARD MEMBER * SPEAKER * MENTOR
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Iouri Prokhorov
Founder and CEO at SUPO. Helping professional services leaders realise the value of their data.
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Irina G.
Director at Supo International LTD
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Aliaksandra Kukharonak 🦋
Content Marketing Specialist
Updates
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🚀 Swipe through to uncover three key trends that promise to redefine success in your industry. It's time to adapt, thrive, and set the stage for lasting success. Ready to discover the path forward? 🌟 #2024trends #ProfessionalServices #businessintelligence
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Navigating Time Management: A Closer Look at Top 10 Timesheet Tools for Professional Services Firms In the dynamic realm of professional services, adept task management isn't just a skill; it's a necessity! Enter timesheet tools, our reliable companions in optimizing operations, elevating productivity, and ensuring precise billing. Let's dive into the details. Which Timesheet tools are you currently using in your firm? Do you find it efficient? #timesheet #professionalservices #practicemanagement #softwaresolutions 1. Harvest Harvest's user-friendly interface and robust features make it an all-encompassing tool for managing projects efficiently. 2. Toggl Toggl's simplicity and flexibility make it an ideal choice for professionals seeking accurate and hassle-free time tracking. 3. Clockify Clockify's adaptability and cost-effectiveness make it a go-to solution for small to medium-sized professional services firms. 4. ClickTime ClickTime stands out for its user-centric design and powerful reporting capabilities, making project management a breeze. 5. Hubstaff Hubstaff's focus on accountability and productivity makes it a valuable asset for firms managing remote teams. 6. Scoro Scoro's holistic approach to business management positions it as an indispensable tool for firms seeking a unified platform. 7. TimeCamp TimeCamp's automation and comprehensive features provide a well-rounded solution for effective time management. 8. Everhour Everhour's compatibility and precision in tracking hours make it a valuable asset for professionals working with project management tools. 9. Zoho Projects Zoho Projects' cohesive approach to project management and time tracking establishes it as a comprehensive solution for professional services firms. 10. Paymo Paymo's simplicity and integration of essential features make it an effective tool for firms looking to streamline their workflow. Check out the cards to learn more about the features and pricing.