Teams | Collaboration | Customer Service | Project Management

March 2024

teamwork

7 cutting-edge tools for financial advisors

Mar 27, 2024 By Ben Brigden In Teamwork
Financial professionals rely on financial planning tools and software to work efficiently and accurately. Some of these tools are as old as the PC itself, while a new generation of financial services tools is also competing for your attention. But with so many of these tools offering wide-ranging, overlapping feature sets, choosing the right mix of tools is a time-consuming process for investment advisors.
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Start approving your team's time in 4 easy steps

Mar 26, 2024 By Janelle Santi In Teamwork
It’s time to say farewell to nasty billing surprises and hello to more financial control. Introducing Time Approvals, our latest feature that will ensure you get the final say over your team’s time for the ultimate in accurate client billing. Take comfort in knowing that there are guardrails in place to protect your time data and billing details. Follow these four steps to work through the entire process, from setup to approval.
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Balancing books: 8 best time and billing software for accountants

Mar 26, 2024 By Ben Brigden In Teamwork
Your accountants and CPAs have better things to do than fiddling around with invoices and calculating billable hours. …But you also need to get paid. Is spending hours on billing and payroll just a necessary evil in the accounting field? Or is there a better way? Time and billing software promises to solve this problem, introducing automation and real-time tracking to your accounting and billing workflows.
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The Must-Have Forecast Model to Grow Your Agency w/ Garrett Mehrguth

Mar 21, 2024 By Teamwork In Teamwork
Today he runs an agency doing $25MM in ARR with around 150 employees. But–as the story usually goes–this success didn’t come overnight & started with much more humble beginnings. From not getting paid by one of his first clients to gaining traction with small monthly retainers on Fiverr to now running a successful performance marketing agency for SaaS companies, Garrett Mehrguth, CEO of Directive, has learned a forecasting model that’s allowed him to scale his agency well beyond those humble beginnings.
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Project management for financial services: A comprehensive guide

Mar 20, 2024 By Ben Brigden In Teamwork
Finance is a funny thing, isn’t it? On the one hand, the industry boasts some of the largest, most well-funded businesses in the U.S., U.K., and the world. Transactions so large that the average person can’t comprehend are the norm. But, on the other hand, day-to-day life at companies in the industry includes many challenges familiar to those in less lofty professions.
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Introducing the Teamwork.com AI assistant, a new way to work smarter

Mar 19, 2024 By Jordan Wellin In Teamwork
You’ve got a new team member! They’re a hard worker who doesn’t mind doing repetitive grunt work, a great sounding board for ideas, a brainstorm buddy, a lightning-fast writer of blogs and social posts, and a smart editor. And they’re an AI. That's right, the Teamwork.com AI assistant is here to help you do better, more creative work for your clients at the press of a button. Fewer redundancies, less manual labor, higher quality writing.
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The effective guide to project management in banking: Best practices and tools

Mar 19, 2024 By Ben Brigden In Teamwork
Jack Welch wasn’t a banker. So what can Jack Welch — as successful as he was at GE — teach us about project management in banking? Plenty. Project management in banking has its fair share of complexities and challenges other industries don’t share — and we’ll get into those in this post. But even though the specifics can vary quite a bit, the core or soul of good project management is built on the same principles no matter the industry or context.
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Understanding cost overrun + prevention techniques

Mar 18, 2024 By Ben Brigden In Teamwork
Does it ever feel like there’s just too much project and not enough budget? (Does it ever not feel that way?) It’s not just you — only 34% of businesses report completing projects on budget half the time or better. In other words, most businesses (66% of them) go over budget on more than half the projects they complete. Project managers are constantly concerned with project planning, timelines, forecasting, and even risk management.
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Quality assurance in project management

Mar 13, 2024 By Ben Brigden In Teamwork
What’s your definition of project success? Delivering a project on time and on budget, right? That answer gets us most of the way there, but it falls about 33% short. For a project to be successful, it needs three qualities, not two. In addition to being on time and on budget, the project also has to reach the level of quality necessary to fulfill the project objectives.
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The request for quote (RFQ) process: A comprehensive guide

Mar 13, 2024 By Ben Brigden In Teamwork
Everyone, everywhere, wants a good deal — and good quality. We want a bargain at the car lot, but not on a lemon that won’t survive the drive home. We don’t want to pay $20 for bananas at the grocery store, but we don’t want half-rotten ones swarmed by fruit flies either. We want good quality at the best price. In business, balancing price and quality can get complicated. The things we buy or contract for are complex and nuanced, and so are their procurement processes.
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Tailor forms to your clients-and get more accurate results-with Conditional Logic

Mar 12, 2024 By Jordan Wellin In Teamwork
If you're doing any sort of client work, chances are you know the pains of onboarding new clients. There may even be times when you've sent them one of those generic questionnaires that asks about everything under the sun. Bored, the client loses interest, filling out the form with the most perfunctory answers so they can get through it ASAP. Ask yourself: is anyone happy about this? Enter Conditional Logic, a revolution in form creation that adjusts in real time based on your clients' answers.
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The basics of burn-up charts: What they are and how to make them

Mar 12, 2024 By Ben Brigden In Teamwork
Burn-up charts are just one tool in the project manager’s toolbox — but these humble charts can be impressively effective. They’re perfect for presenting a quick snapshot of project progress, as well as showing progress over time or the ways a project’s scope keeps shifting. The burn-up chart is well worth understanding and adding to your arsenal. So let’s take a look at what a burn-up chart actually is and how to make your own.
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Mastering change request management: Understanding its essentials, tips, and best practices

Mar 11, 2024 By Ben Brigden In Teamwork
Change is unavoidable — but that doesn’t make it easy. Clients change their minds, industries evolve, and business trends pop up fast and fade away just as quickly. The longer you work in and around projects, the more you see how easy it is for changes to delay or even derail a project. To get a handle on project changes, many client services organizations adopt a formal or informal system of change request management.
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The 3 Client Communication Risks (& How to Avoid Them) w/ Susan Fennema

Mar 7, 2024 By Teamwork In Teamwork
It can be terrifying to allow your clients to “see how the sausage is made,” and this is one of the main concerns related to handling client communications within your project management or professional service automation software. While there are benefits to streamlining your client communications and inviting them into the system that runs your agency–benefits like visibility, client perception & efficiency–each of those benefits comes with some pretty intimidating risks.
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What is a request for proposal (RFP)?

Mar 6, 2024 By Ben Brigden In Teamwork
As an agency leader, do you ever feel pulled in opposite directions? That’s a real possibility when it comes to requests for proposal (RFPs). An RFP solicits proposals for services, usually on projects with multiple facets, phases, or deliverables. Agencies can be on both the giving and receiving end of the RFP process. For example, a business might create an RFP for a comprehensive marketing campaign, including commercials.
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How to write requests for information (RFI)

Mar 5, 2024 By Ben Brigden In Teamwork
RFIs, RFPs, RFQs: we know, it’s an acronym overload. But for many agencies, documents like these are core to their sales and operations processes. Like it or not, the “RFs” are a part of how business gets done. But all this alphabet soup can get a little nebulous. If you aren’t working with them every day (and maybe even if you are), it’s easy to lose track of what each document is there for. What exactly is an RFI, and when should your agency use one?
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