“Our decisions used to be based on a lot of manual work with spreadsheets. Tenrox project management software has enabled us to take better control of all aspects of our finances and improve profitability, resource utilization and make better decisions for the future.”
-Karen Oden, Financial Systems Analyst
- Guidance Software in Pasadena, California is the world’s leading manufacturer of digital forensic software. In addition to maintaining relationships with 3,500 law enforcement and corporate customers annually, the company also trains more than 6,000 individuals in intellectual property theft, computer and enterprise forensics, eDiscovery requests and computer incident response. Clients include financial, technology, defense, pharmaceutical and energy companies such as Wachovia, Honeywell, Northrop Grumman, Pfizer and Chevron.
- In spite of the technological skill required to produce such a sophisticated product, Guidance Software lacked the kinds of resource management tools and capabilities like those in Tenrox project management software. As a result, the company was forced to run a lot of reports and combine the results of all these reports into manual spreadsheets in order to reliably assign investigators to future cases, forecast project budgets of accurately correlate expenses and revenue generated by its offices around the world.
- “We had to pull figures out of Oracle for manual calculations and do our best to project profit margins and determine who would be available to work on an upcoming project,” explains Karen Oden, financial systems analyst. She adds, “That still wouldn’t tell us how effectively we were using resources or if hourly rates were appropriate for a particular job. We needed an automated solution that could help streamline our processes and provide cost and revenue analysis.”
- As the company began researching available solutions, Tenrox project management software quick;y set itself apart from the other contenders. This was largely due to the configuration options it makes available to users. “We were very impressed that so many of the elements we needed, like custom reports, were things we could create on our own without having to call a consultant every time,” says Oden.
- In addition, the company’s decision to choose Tenrox project management software was swayed by:
- Ease of inegration: the solution is designed to seamlessly connect with other enterprise and legacy systems
- Stability: Guidance Software investigated how many repair patches were issued in the preceding years and were satisfied by Tenrox software’s reliability
- Expertise: Tenrox service and technical support teams were considered to be “absolutely outstanding” based on both the knowledge of the sales/implementation staff as well as their ability to resolve issues
- Tenrox project management software enabled Guidance Software to make a number of significant operational improvements. “Implementing the system helped us uncover problems that we didn’t even know we had — and to turn them around into very positive elements of our organization,” Oden says.
- Improvements and added functionality include:
- Profitability increased 30%
- Resource utilization improved from 75% to 94%
- Automated resource management makes the process of assigning consultants and hourly rates more reliable
- Overall financial management improved through automated project cost and revenue analysis and budget projections
- Expense tracking has been streamlined, improving efficiency and accuracy of all reimbursements
- Guidance Software recently upgraded its Tenrox system and is looking forward to the new budgeting, scheduling and financial reporting capabilities it provides. Oden expects that the company will take advantage of features such as deferred revenue management and mobile system access in the near future.