conducted at the end of 2021, out of 169 agencies that participated in the benchmarking survey, 50% have less than three months of visibility into their revenue forecast. This ties closely into resource planning and successfully balancing project work for teams. The same study showed that 51% of agencies see investing in operational efficiency as one of their top priorities this year.
“We learned that less than 50% of agencies use an integrated platform that shows them their financial indicators in real time. That’s a sign that room for growth lies in leveraging the right technology.”
– Gabrijela Bosnjak, Senior BDR at Productive
The numbers clearly indicate that agencies are increasingly aiming at a single source of truth for running their businesses based on data.
Real-time Metrics as Your Agency’s Base for Data-driven Decisions
At the end of the day, what’s highly important for any agency at the cutting edge is making data-driven business decisions on all levels.
For real-time metrics to be as accurate as possible, what’s key is getting all teammates to regularly track time. But other than CEOs, CFOs, operations and account managers needing to know the true state of an agency’s finances at all times, agency leaders increasingly need to look into data that indicated the well-being of their teams.
“With Productive we’re able to look a lot further ahead now. Before we used to plan projects about two weeks in advance. Now we’re accepting bookings for projects that start in 4-6 weeks.”
– Martijn Pillich, Managing Director at Hike One
When agencies dig deep enough, there is data that can show how balanced their teams’ work is, how diverse their VP Engineering Email Lists tasks are, how often they’re taking time off to relax, and how employees are growing professionally in the midst of securing overall agency growth.
One Agency Tool as Your Single Source of Truth According to a
Spending time on presentations, report-building, looking back into last quarter’s P&L statement, or begging the finance team for the latest numbers is a practice of the past. Agency leaders today are empowering employees by giving different team members access to agency data, enabling them to help positively influence the course of their business growth.
Running an agency in one consolidated workspace—from sending out proposals to managing tasks, balancing resource planning, to invoicing each delivered project—is what leaders today are looking for as their North Star. The future of agency management calls for a single source of truth.
Learn more about how Productive can help your agency consolidate its business data and thrive. Also, have a look at the best digital agencies all around the world directory if you’re looking for one.