Revenue provides financial feedback for the whole consulting firm. Year over year (YOY) revenue growth evaluates a company's financial performance. During the history of an organization, revenue change shows the actual growth of the business.
Measurements of revenue can provide answers to questions such as the following:
- How much money did we make this month compared to previous years?
- Which office brought in more money this year?
- What is the revenue per consultant?
- Which consultancy role brings the most revenue?
There are multiple types of revenue in Metric.ai:
Recognized revenue is calculated from the amount of fees dated in the past for fixed-fee and retainer billing types, logged hours and rates for time and material billing type, overage hours, and overage rates for retainer overage.
Forecasted revenue consists of recognized revenue for today and planned revenue after today.
Ubilled revenue shows much revenue has not yet been invoiced.
The metric is calculated as Unbilled Revenue = Recognized Revenue - Invoiced Revenue.
Unbilled revenue cannot go below 0. Accordingly, if Invoiced Revenue > Logged Revenue, it's just 0.
Invoiced revenue is calculated from outstanding invoices.
Paid revenue is the summary value from invoices marked as paid.
In Metric.ai, there is a separate metric view for Revenue per hour. It’s used to determine how much money an organization or a given expert or team is earning on a per-hour basis.
Hourly metrics help to evaluate your hourly rates and overall financial performance.
To learn more about the analytics view of Metric.ai, please read Analytics overview help documentation.