Team's Cost Tracking and Fixed-Price Contracts in Jira
MINDPRO SERVICE CONTRACT MANAGEMENT
MindPro - Service Contract Management was designed to change the way we manage services end-to-end in Jira, going from contract creation to worklog management. But we did not stop there. We also added financial functionalities to help users improve margins and increase profitability.
See below the highlights for this new version:
Custom Work Rates
Different working contexts require leaders and managers to handle services efficiently. The custom work rates allow associating different hourly rates (normal hours, extra-time, weekends, and holidays) for each team member to accurately calculate costs and margins according to the date/time they log their work.
One of the most requested features from our customers is finally released. Besides Time & Materials billing model, MindPro Service Contract Management now has the ability to manage Fixed-Price contracts, giving more options to your customers to expand their services.
It does not matter what is the billing model you are following (T&M or Fixed-Price), all contracts now allow you to inform the contracted value to monitor costs and margins for the executed services. If you want to control other values not directly associated with the services (travel expenses, interest rates, etc) you can add extra revenues and expenses to the contract and see how these values impact your profitability.
Working Hours and Holidays
Depending on the contracted services, teams may need to work on alternative dates and times. Now you can set up how many hours teams work on every weekday or weekend and also define local holidays. These configurations work together with the Custom Work Rates to calculate the correct hourly costs whenever the worklogs are entered.
All cost tracking features above will result, in essence, in calculations that will show you how profitable your operation is. Based on all the information gathered from the features above, we developed two new reports that will give you a financial big picture of all your services.
The Margin Per Hour is a report for Time & Materials (hours) contracts that allows users to identify how profitable each team member is, considering the work rates compared to the average hourly rate from the contract.
The Margin Per Contract report allows users to identify how profitable each contract is, considering the amount of money that comes from contract value, executed hours (billable and non-billable), extra revenues, and extra expenses.
How cool is that?
We hope you like all these new features. Click on the button below and get a 30-day FREE trial to play with the app and see all the benefits it can bring to your business!
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