The goal of this presentation is to demonstrate how to employ highly-delineated cost accounting capabilities in your company so that you become more profitable, eliminate competitors, grow revenue, and lower both costs and risk.

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From Chaos to Success
How Better Cost Accounting can Propel
Your Company to Higher Profitability
Presented by
Austin Mayse, Account Executive
Journyx

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How Journyx Helps Our
Customers
• We help companies collect data for complex
cost accounting
• Companies use Journyx to track time,
expenses, mileage, consumables and
equipment
• Journyx data helps you understand costs on a:
-Per-Person Basis
-Per-Customer Basis
-Per-Project Basis
-Per-Department Basis

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A Grim Statistic
The 2012 Standish Group’s CHAOS
results show just 39% of all projects were
deemed successful, 43% were
challenged, and 18% failed.
How many of those failed
projects were yours?

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Today’s Goal
Demonstrate how to employ highly-
delineated cost accounting capabilities in
your company so that you become more
profitable, eliminate competitors, grow
revenue, and lower both costs and risk.
Are you ready?

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The Stages from Chaos to
Success

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Stage 1: Chaos
Most companies have been there:
• Over commitment is common
• Processes abandoned in crisis
• Successes are difficult to repeat consistently
The first step is to take the first step:
Start tracking time1
Start tracking projects
Start tracking expenses
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Have you worked where
people track time but no one
trusts the data?

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Stage 2: Transition
Everyone tracks labor hours on a per-project basis. Your focus is to gain
more insight into your project cost accounting data.
Track costs1
Report costs
Know your data
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What are the worst parts of
project cost accounting? What
good can come of it?

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Stage 3: Structure
Now that you know your costs, you can improve cost estimations
Institute a feedback loop:
Ask the right questions1
Adjust as necessary
Continue to improve future estimates
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Your Checklist
 People have begun tracking their time,
projects and expenses
 You have insight into project cost accounting
data

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What bad things happen when
you don’t understand costs?
What have you seen or heard
of?

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Stage 4: System
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Put key performance indicators (KPIs)
in place:
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Put better goals into place that are
measured by SMART metrics
S – Specific
M – Measurable
A – Attainable
R – Relevant
T – Time-bound
• Billability
• Adherence to estimates
• Percentage of projects profitable

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Your Checklist
 People have begun tracking their time,
projects and expenses
 You have insight into project cost accounting
data
 Improved cost estimations
 You have a feedback loop

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What are some good KPIs you
use in your company? What
are some you wished you
used?

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Stage 5: Success
You’ve arrived at the success stage! The final
step is to improve resource allocation
procedures:
What is each resource assigned to?1
Does everyone else know this?
Are you sure the resource is yours?
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Your Checklist
 People have begun tracking their time,
projects and expenses
 You have insight into project cost accounting
data
 Improved cost estimations
 You have a feedback loop
 SMART goals and KPIs in place

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COMPANY NAME
facebook.com/journyx
@JournyxInc
7600 Burnet Road, Ste. 300
Austin, TX 78757
Thank you!
Austin Mayse
512-225-3912
austin@journyx.com
linkedin.com/company/journyx-inc