This is how the architect's office achieves higher earnings
With many exciting projects and few employees, Vardehaugen Arkitektkontor need to keep their tongues in their mouths. See how the architect's office has gained the overview and control they believe is worth its weight in gold.
Vardehaugen Arkitektkontor is Norwegian small business with six architetcts.
Vardehaugen Arkitektkontor is a small business with six employees, all of whom are architects. To spend most of their time on the core business, they have good systems that help them keep track of the profitability of the company.
“At most, we have 25 projects running at the same time. We mostly work with cabins and detached houses but have some larger projects, such as a hotel at Træna. The projects can extend over several years, with many breaks along the way. Then it is difficult to keep an eye on everything”, says architect Magnus Kvalheim.
Budget overview at the touch of a button
For Vardehaugen Arkitektkontor, the budget is one of the most important things to have an overview of. Both to see if they are close to budget early in the various projects and to have control over how much is left.
With the project module in Tripletex, the company gets control. For each project, they enter the budgets and can follow the progress along the way. They get an overview of hours and invoicing and enter the offers that have been sent out, in addition to all customer data.
"We have created several separate accounts earmarked for their purposes"
Vardehaugen Arkitektkontor has no dedicated financial manager and has therefore found a way to have control over the finances.
“We have created several separate accounts earmarked for their purposes, such as holiday pay and employer's tax”, explains Magnus.
That is why they were quick to test the new reporting module in Tripletex. There are several report templates available, in addition to which companies can tailor reports to their own needs.
“We have used the balance sheet a good deal. At the touch of a button, we get an overview of owed holiday pay, employer's tax and how much is in the various accounts. I check this every month to avoid big surprises”, he says.
Brings in more money than before
“The timekeeping function has been very positive for us. It is so accessible that we now run classes more regularly than before. This has meant that we have managed to bring in more money than we did before. And that is quite important”, smiles Magnus.
"Before Tripletex it was challenging, but now we have good control over our business"
Vardehaugen Arkitektkontor mostly works on an hourly basis and is therefore dependent on everyone recording the time spent. When employees keep hours, they are linked directly to the correct project and the invoice basis is updated automatically.
“Before we switched to Tripletex, it was challenging to keep track of all active projects, the time spent and the various budgets. Now we have good control over what we have invoiced, and have a full history in the system”, he explains.
Easy to grow with Tripletex
As the architectural office has grown and received more projects, they have adopted more functions in Tripletex. In addition, they work closely with the accountant directly in the system, which makes it easy to have control over the finances.
“We used a lot of resources to find systems that give us the overview we need. Now we've got it, in addition to collecting all the information in one place. It's worth its weight in gold”, concludes Magnus.
Tripletex customer story originally posted in tripletex.no.