Data-driven business development

Make stronger decisions and get insights across departments

From 2018 to 2019, we faced a major growth challenge. We were in for a year-long journey towards integrating all our data channels into one unified user platform. All data is stored in the cloud and visualisation tools show our KPIs and relevant key figures at a glance across teams, departments and countries. The data insights come in real time and enable daily navigation in operation and performance.

Today, we make strategic decisions on a data-driven background in combination with experience and intuition. Data ignorance is no longer an excuse for untapped revenue potential. Instead, we have turned data into a competitive advantage. The growth challenge has been solved at Novicell.

Learn more about what we did here:

The problem: growth had to be consolidated with real-time performance data

We needed answers to key operational questions... Faster!

In a time-recording business, the business model is often different. Excess hours cannot be stored in the warehouse. Employees are our greatest asset and employee performance is the alpha and omega of revenue, therefore daily visualisations for KPIs and key figures were crucial to success. 

In a growing company, success can blind you to being business critical and it can be difficult to face challenges at the same time, so it was essential to create an overview to run a financially sound and secure business. We did not have the necessary overview and control of how hours were spent before the month was completed and invoiced. Tangible insight into this, and how the invoicing rate could be raised, was essential for increased revenue.

Several questions needed clarification:

  • ‘How much money do we “lose” on data ignorance?’
  • ‘How do we best optimise our competencies?’
  • ‘What happens in the span between sold and invoiced hours?’
  • ‘Do we evaluate and communicate on the basis of facts?’
  • ‘Why do we have so many internal tasks?’

There was an untapped potential for increased growth due to lack of overview, management and data knowledge. We had a concrete desire to gain daily insight into operations and performance across teams, departments and countries throughout the organisation to be able to act and allocate hours in real time, instead of being surprised once a month – and always being behind.

The solution: the basis for good strategic decisions is a combination of data, intuition and experience

We took our own medicine and invested in future business security. Decisions should be made not only on the basis of the leader's intuition and experience, but in interaction with data. To solve the growth challenge, it was fundamental to invest in a common data set as the backbone of automated and integrated dashboards. All data channels were integrated into one unified user platform, uploaded to the cloud and visualised using Power BI, which clarified all our key figures across the organisation at a glance – management was rediscovered in Novicell.

Today, we use our dashboards for, among other things:

  • Seeing how many new customer cases are on the way in, so we can receive them in the best possible way with the right resources
  • Assessing the occupancy rate in each team and whether there is a need to re-allocate resources
  • Getting an overview of what happens from when an hour is sold until it is invoiced – and whether there are any patterns in why hours are written off
  • Communicating across teams if we can see that a team is doing particularly well on one or more key figures
  • Having a common language and a common data set for how we evaluate our business

Business development has enabled daily navigation and capacity optimisation on a well-documented basis much earlier in the process. Our managers look at the data-driven dashboards several times a day, which guarantees the necessary security in decisions. If you, as a manager, want to be present in everyday life, this is achievable by ensuring a factual foundation from which you can navigate across the entire organisation.

Today, Novicell has a customised data overview and measures on all these parameters:

From performance overview to performance boost

Integrated data dashboards create an overview, but do not breed an increased billing rate without action. In our business, the overview became a catalyst for the goal of increased management in the organisation, as well as a basis for reconciling the managers’ expectations and the employees’ performance – on a daily basis.

Based on our custom-made data dashboards, Novicell's members of the Executive Board have stated the following:

Group CEO, Per Kirchner

‘We can respond in real time via automated dashboards and evaluate our performance based on the same data overview across teams, departments and countries. Yesterday's crucial key figures for the company are being served to me when I wake up. It makes a colossal difference.’

CCO, Morten Longgaard

‘I have a collection of sales reports that give me two things mainly: insight into our sales performance and an overview of upcoming projects that we can plan our resources after. Data comes from our CRM system, and in the reports I can see when a new project comes into the pipeline, when a deadline is being pushed or when the scope of the project is being adjusted, and I can see the performance of the individual sales consultants or split the pipeline down to department level. Everything is updated in real time so that it matches the image in our primary sales tool, our CRM, where the sales person keeps data up to date. With a few clicks, I can always provide answers to what we expect to be able to deliver to different parts of the organisation, and see what phase we are in on different in-sales, so I can offer relevant communication to the sales consultants in the process.’

CFO, Kasper Thomsen

‘Basically, it is about getting the right information at the right time, which can then be translated into concrete actions in everyday life. In addition, it has become significantly easier to analyse data, as we have all the information at hand down to the smallest detail. Before we started implementing our data warehouse with integrated data dashboards, there was a large amount of work with a relatively large risk of error associated, as you manually combined different data sources. Our easy access to data availability gives us enormous value in the company.’

COO, Lars Hougaard

‘It is a great help to have a fact-based picture of how our business is running. It is a key tool that ensures that we can spend time managing through better decisions rather than looking for relevant data. We do this now in real time, so that in our daily lives we are very close to our customer deliveries and thereby the most important management parameters for our company.’

In one year, the value of data has led to the following positive key figures for Novicell:

What does the increase in performance, and thus the invoicing rate, mean for the bottom line?

Now it gets a bit nerdy with a little math, but the point has been lucrative.

If we had 200 employees during the period invoicing 115 GBP per hour, it would mean an increased turnover of 404.53 GBP per 1% increase in invoicing rate. In this case, with a 7.3% improvement, it would give an increased turnover of approx. 2.9 million GBP in one year.

Benefits of implementing integrated and automated real-time data dashboards

Overview

Through automated day-to-day reporting in dashboards and constant analysis and measurement of KPIs, it enables quick action if something goes in the wrong direction.

Insight

All the decision makers within the company can plan strategic changes on a data-driven basis and focus on optimising the business' revenue sources.

Resource optimisation

Increased capacity and project management in all of the company's departments and teams ensures a higher invoicing rate with lower costs and increased efficiency per sold hour.

Targeted work culture

An updated dashboard gives the full picture of the company's performance right down to the individual employee in relation to the business' set goals.

It all starts with integrating the company's relevant data into one overview that provides a rational foundation for strategic decision making. We have become experts in this and we advise our customers to do the same.

Our new integrated data dashboards help our customers increase revenue, reduce costs and minimise time spent on reporting and administrative tasks. That has got to be attractive to everyone.

CEO, Anders Holt

How can we implement the solution in your business?

If you want to know more about our growth-oriented data optimisation strategy and how our company can make strategic decisions based on real-time dashboards, please contact me.

We can book a meeting online or at your office.