Tempo Books: A Very Prompt Update

To complete the full project and portfolio management solution, Tempo is proud to introduce Tempo Books as a professional services automation tool on top of JIRA.

Since our acquisition of FOLIO in December, our Tempo Books team has been shifting their focus more on customers that need flexible billing and utilization management. The scope and magnitude of competition today has consequently increased expectations towards executives and managers. To be able to respond quickly and make significant decisions, executives and managers need information to stay competitive. They need a clear overview of their entire customer portfolio and accounts that report accurate revenue stream in professional services. For our Tempo Books 1.0 release, expected in spring 2015, our team is focusing on three primary foundations that are aimed at being professional and customizable for our customers.

PRICING TABLES LET YOU TRANSLATE YOUR TEAM WORKLOGS INTO VALUE

The price table plays an important role, as it is the key variable to convert logged hours into value. As a business manager, you can set the hourly price across your teams and separate them by different roles, which allows account managers to calculate the revenue for sold services. A default price is set for roles that usually don’t conduct consulting work. The premise for being able to map worklogs to rates is by using the Tempo Teams  system plugin (included with all Tempo products) to set a price for each role.

professional services

A mockup of the price table.

 

UTILIZATION REPORTS HELP YOU MANAGE TEAMS AND FINANCIAL PERFORMANCE

The practical and effective use of time is in everyone’s best interest because time is money. How is your team performing? Tempo Books offers a variety of reports, suited for managing teams and measuring performance. Measuring performance and utilization can help generate a higher profit margin. As a team lead, you can set your utilization target between accounts and keep track of how your team is investing their time. Accumulated data for a chosen period is presented to see the average utilization and compare it to individual members for a further inspection. The utilization reports will be available at different levels i.e. teams, accounts, customers and programs. For managers and executives, utilization reports depict exploitation of time and resources across categories, e.g. types, projects and accounts, and billable versus non-billable. Set your target and track your teams’ performance.

utilization

A mockup of the utilization targets.

 

REVENUE AND BUDGET TRACKING HELP YOU MANAGE CUSTOMER, ACCOUNT, OR PROJECT PERFORMANCE

A point of departure for tracking revenue from billable work is the price table, as mentioned above. The essence of evaluating a project is built on it’s profitability. Thus, tracking the revenue of customers accounts can help with setting prices and reaching sales targets. Customer burn up charts are displayed according to contracts and estimates. The charts outline the scope of an account/project in respect to the hours billed. All reports are customizable for managers, whether it’s the total amount for a particular project, account or a customer, or broken-down according to custom filters. Executives and managers get a clear overview of the customer portfolio and accounts, making it easy to respond quickly and identify risks before they escalate. It’s easy to see the big picture with Tempo Books.

revenue and budget

A mockup of the budget view.

 

Tempo Books is available in beta

FOLIO

FOLIO is a portfolio financial management tool for JIRA that let’s you track your project’s finances and resources. It has become an essential tool for managing projects and portfolios inside of JIRA. Whether you’re practising agile or more traditional methods for your projects, FOLIO focuses on managing your three main concerns of project and portfolio management (PPM) the scope, schedule, and costs. It enables you to take control of your project’s financials and offers a great cost management tool, the process of planning and controlling the budget for the business.

FOLIO for JIRA help reduce the chance of going over budget by forecasting project cost and revenues, defining the team composition with time allocation and wages, and keep track of actual expenditure during execution. Earned value management (EVM) is an implemented feature to evaluate and track the progress of projects, both in estimated time delivery and estimated cost at the end date. FOLIO allows teams not using EVM to base project estimates in story points instead for agile financial management. It’s a great instrument to monitor budget health across all your JIRA projects, enabling you to roll-up data at the portfolio level. Major enterprises and companies of all sizes and different types of businesses have adopted FOLIO.

Try FOLIO for JIRA for Free

 

FOLIO integrates with both JIRA and JIRA Agile, and also integrates with our real-time tracking and reporting solution, Tempo Timesheets. In addition, the Tempo Timesheets team plans to provide integrations with FOLIO for budgeting, forecasting, and earned value management at the project and portfolio levels.

For more information www.tempoplugin.com

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Somewhere between marketing and innovation, Steinunn is the product marketing manager for Tempo Cloud. You can find her online most of the time, outside walking, or sailing in the North Atlantic.

17 Responses

  1. Andrew Baker says:

    This looks fantastic… it would be really useful if you make it clear if this is available for both JIRA Server & JIRA Cloud?

    If it isn’t available for JIRA Cloud do you have a forecast release date?

    Thanks,
    Andy

    • Steinunn says:

      Hi Andrew,

      Thanks for your interest in Tempo Books and great question. At first, Tempo Books will be available for JIRA Server but we plan to release Tempo Books later this year for JIRA Cloud.

      Best regards,
      Steinunn

  2. Fabrizio says:

    Books will be merged with folio?

    • Steinunn says:

      Hi Fabrizio

      No, Tempo Books will not merge with FOLIO. The acquisition of FOLIO enables the FOLIO team to focus on the financial portfolio management and Tempo Books team can focus on professional services, providing greater value and better user experience to the target user of each product. Next months will be very exciting as FOLIO will be integrated into the Tempo family.

      Best regards,
      Steinunn

      • Fabrizio says:

        Thanks for the info.
        But folio and book share tons of information and similar target, but probably i’ve to check better book plugin

  3. Ian says:

    Can you also override the rates on a per project and per named consultant basis (i.e. not just Roles)

    For example, Person A is charged at 10 USD per hour on Project 1 but when Person A works on the Project 2 the charge rate is 8 USD per hour.

    • Steinunn says:

      Hi Ian

      For Tempo Books 1.0, you will only be able to set prices to different roles. Which can not be changeable on different projects and the price table describes one price per role. But your idea is definitely something to consider in later releases. We value feedback and comments on how we can make Tempo Products better. If you want to request a new feature, please visit our Tempo Books page https://tempoplugin.jira.com/browse/TB/?selectedTab=com.atlassian.jira.jira-projects-plugin:summary-panel

      Best regards,
      Steinunn

      • The ability to charge different rates for customers, accounts, and projects is an absolute must. Without it we literally cannot make use of any of the billing functionality. In an ideal world it would be great to charge every client the same rate for a given role, but that just isn’t the case. Rates literally change from project to project, and from client to client. You guys are so close with having Tempo Books be a perfect fit for professional services using Jira! Just make the leap already!

        • Steinunn says:

          Hi Charles
          Thanks for your input. We do appreciate it, we love getting feedback. You are totally right, we are further developing the price table in Tempo Books. For Tempo Books 1.1 we plan to introduce discounts on a account level. On for future versions later this summer, we are implementing multiple price tables.

          I am forwarding your comment to Tempo Books Product Owner for a reference.
          All the best,
          Steinunn

    • Pete Domican says:

      Ian,

      The ability to charge different rates to different clients seems an absolutely basic essential for a professional services company.

  4. Christian K. says:

    Hi Tempo Team,

    do you have a release date? We waiting almost a year to use this tool.

    • Steinunn says:

      Hi Christian

      Thank you for your patience and interest in Tempo Books. We do not have a specific release date yet but we are getting pretty close to our first release of Tempo Books 1.0. The best I can tell you now is early May 2015. Hopefully sooner :)

      Best Regards,
      Steinunn

  5. Paul H says:

    Hi Tempo,

    Do you have a new estimate for a release date for Tempo Books ?

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