Realization is when you compare the number of hours logged to BigTime with the amount that’s invoiced. For example, if Fred logged $1,000 worth of hours and invoiced $1,000, then his realization is 100%. However, if Fred logged $1,000 worth of hours and only invoiced $500, his realization is 50%. The higher the realization rate, the better.
Note: Your firm must be invoicing out of BigTime in order to measure realization.
Measure staff realization in BigTime by creating a custom report. Click here if you’re new to custom reports. If you’re familiar with them, read on to get tips on creating a report to measure realization.
1. Select TIME+EXPENSE SUMMARY under the report type.
2. Check REALIZATION (%), located under WIP STATUS, when choosing columns to add in your report. Other fields worth adding include Quantity, Input $, WIP (billed), and Invoiced. After you create your report, you’ll see the realization for your employees.