WORK EFFICIENTLY
GROW EFFECTIVELY
What is Practice Engine?
Practice Engine™ is a full featured Practice Management product that is completely browser delivered. This is unique in this range of product. It is made up of numerous interconnected parts, which, like your firm, perform efficiently when fully utilized.
Key Features
Practice Engine™ delivers direct savings through application use, and improvements in efficiencies. The ROI is greater than most expect.
Some of the top tangible benefits that a firm experiences after implementing Practice Engine include: More effective invoicing; better access to information, better job control through integrated job/costing/budgeting and scheduling. Savings in stationery and postage via electronic invoicing and statement sending and collection of finance charges on overdue receivables. Ability to use on any device, and low/no deployment footprint, including upgrades and new features.
Browse Key Features:
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More Key Features
Pre-populated cells to eliminate errors
Mobile application for time entry
Reminder of daily entry/prompt upon log in
Reporting for missing time entry
24 hour limit on time entry (one particular day)
Ability to copy previous entry when entering time
Index number assigned to every time entry for tracking history
Requirement for all cells to be completed
System generated emails to notify when missing time entry
Time Entry
Billing
On-screen billing for Engagement biller
Automated invoice footing within the application
Installment invoices generated without manual interaction
Ability to have an admin fee added to invoices (% of invoice) that calculates correctly
Track admin fee as separate revenue component and ability to write off fee if applicable
Standard formats for invoices
Ability to email and upload invoices to client portal
Bill to parent option (client roll up)
Reverse invoice option (history of invoices reversed and re-issued)
Inquiry screens showing Client, office, firm - MTD/YTD
Option to apply partial progress bills to WIP and carryover remaining amount
Ability to email invoice directly from application
Bill by Engagement (write off by engagement)
Field for entering WIP reserve (by Client, by Engagement)
Automated email of outstanding receivables
Area for AR narratives
System generated emails when AR hits over 61 days and over 91 days
Allow easy application of multiple clients paid on one check
Field for payee if different than client name and ability to search on this field
Ability to search by amount
Ability to run 1 statement for client family
Ability to run AR reports by amount, by bill date, etc.
Ability to flag a client statement to not print
Ability to put client on credit hold
Accounts
Receivable
Reporting
Easier financial reporting - Established integration with Microsoft's Power BI
Accounting for WIP reserves
Standard report for Contribution Margin
Realization by client partner and engagement partner
Tracking of annuity work vs. one time projects (i.e. 25% consulting goal)
Profit & Loss by Location (full)
Gross Profit by Industry (segment)
Charge hour reporting - targets, actual, total hours, utilization %
Staff client listing with dates of when projects take place
Non-chargeable time reports
WIP reports to show summary by staff at the end of the report
WIP reports show YTD fees billed
Ability to run history of changes to clients
Report for percentage of bills collected in given month
Reporting hierarchy
Open data base structure
Budget to actual and additional information of invoiced/collected to date
Screenshot of "my" open projects w/ budget to actual time
Notification when approaching xx% (user determined) of budget
Area to enter - Budget, Fee and planned fee adjustment
Project
Management
Scheduling
Ability to work with Microsoft Outlook
Send alerts when schedule has changed
Automated scheduling requests
Roll over blocks of time
Reporting functions
Ability to view client/staff schedules
Budget vs. schedule vs. actual
Listing of all clients, prospects and referrals
Client contact listing
Tracking the pipeline activity
Reporting of pipeline activity
Referral Sources
Reporting of contacts by niche
Dashboards; Activity
Business
Development
