Monograph—a leading practice operations platform designed to help architects and engineers oversee projects, timesheets, and forecasts in one integrated and simple interface—has launched its latest add-on feature, Planned Profit Report and Profit Drivers. During the company’s first-ever virtual conference, Section Cut, in August 2021, Monograph announced the introduction of Planned Profit Report and Profit Drivers, designed to provide architecture and design firms with a better understanding of their profitability.
Planned Profit Report allow subscribed firms to enter their staff’s salary information along with their overhead cost, offering further visibility into a firm’s financial health while helping them grow their profit. This report offers easy and well-designed terms and graphs to help architecture and design professionals comprehend the planned profitability of their firm. Profit Drivers is the first-of-its-kind tool that shows you what categories make you the most profits, which includes types of projects, clients, team members, and phases.
“You don’t need a finance degree to understand profits,” said Robert Yuen, CEO, and Co-Founder of Monograph. “Planned Profit Report gives firms and their operational leaders a better understanding of their organization’s past and future profitability. Profit Drivers show them the type of projects that drove profits and those that did not. Customers naturally want to understand the reasoning behind their profit’s gains or losses, and having the ability to observe the revenue and costs for various time frames will begin to satisfy this curiosity.”
What kind of projects make you the most profit? How do you know which client is the most valuable? And what type of fees should we charge? Firm leaders can answer these questions using Profit Drivers to visually understand what category makes the most profits, allowing them make data-driven decisions to drive more profits in future projects.
Fortifying its mission to improve the architecture industry, Planned Profit Report and Profit Drivers will join Resource as the major features debuted by Monograph in the last calendar year. Both add-ons focus on streamlining practicing operations to one centralized platform, decreasing time spent on administrative tasks and increasing time spent on operations and strategy.
Since launching Planned Profit Report and Profit Drivers, Monograph has shared its new add-on feature with several architecture firms and received positive feedback. “Planned Profit Report is so useful in our monthly meetings, allowing us to foresee our financial health over the next three months,” said Dawn Zuber, FAIA, Principal of Studio Z Architecture. “Being able to look at what’s coming down the pipeline and project our earnings is extremely helpful.” Adam Gayle, Director of Architecture of Level Design, added, "Profit Drivers has become really useful. Typically, it takes time to collect this information and organize it on an excel spreadsheet, so having it at your fingertips is super useful, especially for our quarterly review meetings."
“No matter the scale of your firm, you need to know where you’re going in order to make better decisions today,” said Yuen. “With Planned Profit and Profit Drivers, our customers don’t have to guess. They are empowered to make useful decisions faster than ever before.”
To book a demo of Planned Profit Report and Profit Drivers, please visit https://monograph.com/demo.
Monograph is a practice operations platform tailored to the architecture, design, engineering, and construction industries. Founded in 2019 by architectural designers Robert Yuen, Alex Dixon, and Moe Amaya, the technology company has helped firms manage over $400 million in projects of all scales. The cloud-based system is intuitively designed for AEC professionals to oversee projects, timesheets, and forecasts in one simple and integrated interface to inform decisions about their business and projects in real-time. Monograph’s evolving features reflect the profession’s specificities as every component is inspired by the founders’ experiences within the field and what they discovered was missing from the architect’s toolkit. The Monograph team, which was named among ArchDaily’s Best Young Practices of 2020, is disrupting the status quo by ridding firms of the ineffective spreadsheets and tools that treat cost, resource, and project management as separate activities. With Monograph, professionals are empowered with a solution that syncs a firm’s range of tasks and responsibilities together in one cohesive workflow. The expanded efficiencies ultimately help firms provide a better client experience, as well as design and operate a more collaborative, transparent, and profitable business.
For more information, please visit https://monograph.com/.