Globalnewswire for KeyedIn
Jan. 14, 2020
New research shows 40% of enterprise IT teams report low productive resource utilization and 33% of professional services (PS/CS) teams have low billable resource utilization (time spent on billable or strategic work), according to a survey by the Resource Management Institute (RMI), sponsored by KeyedIn, a leading provider of Agile Portfolio Management solutions. For those organizations, team members are spending as much as 16 hours – or two full days – of a 40-hour workweek on work or diversions that are not moving the business forward.
“That gap of resource productivity is very significant for teams that constantly feel under-resourced because, for a team of 100 resources, even a productive utilization increase of one percent can yield a productivity increase equivalent to two or more additional heads,” said Shawn Dickerson, Senior Vice President of Marketing for KeyedIn.
With labor costs making up more than 75% of organizational budgets, the survey indicates that 80% of PS/CS teams and 64% of enterprise IT teams now report resource utilization metrics to the leadership of their organization.
Many of these professionals are not getting the full benefit from the tools available on the market today to help with resource utilization, with 58% of enterprise IT professionals and 48% of PS/CS professionals still using spreadsheets to track resources, according to the survey.
“KeyedIn’s Projects’ Integrated Portfolio Resourcing helps customer to resource the right projects with the right people and skills much more quickly than before, and ensure that those resource plans are enforced at the execution level,” said Matthew Muldoon, Chief Product Officer, KeyedIn. “We offer a complete Resourcing lifecycle management tool that makes resourcing easier and more efficient than ever before.”
The Resource Management Institute (RMI) conducted the survey online with more than 120 survey respondents representing 56 companies. More detailed information on the survey findings are available here.
KeyedIn helps organizations simplify business processes, improve performance and drive results through its innovative SaaS-based business solutions. The company’s flagship product, KeyedIn Projects, is a cloud-based project and portfolio management (PPM) solution that enables project management offices (PMOs) and professional services teams to increase productivity, cut reporting costs and save operating expenses. Headquartered in Minneapolis, KeyedIn has hundreds of customers worldwide, including Walgreens Boots Alliance, LexisNexis, and OfficeDepot. For more information, visit www.keyedin.com, or contact 866-662-6820.