Monograph, a practice operations platform designed to help architects and other design professionals oversee projects, timesheets, and forecasts in one integrated and simple interface—has unveiled its latest feature release, re-imagined Invoices, a new invoicing workflow built for design professionals.
Monograph Invoices allows firms to invoice with confidence and agility, enabling team members to get back to work. As users prepare an invoice, they’re able to see all of the timesheet data, milestone progress, and billing history. Once the project progress is billed for, the billing information is outputted in a simple, accurate invoice that customers can understand.
“Invoicing is a notoriously frustrating experience. Architects often find it challenging to put together an accurate and clear invoice. Clients end up with an invoice in their inbox that they can’t decipher,” said Monograph CEO Robert Yuen. “What we’re looking to do is decrease that friction for both sides—make an invoice easy to put together and easily understood by the client. In that way, invoicing can actually be a benefit to the overall client experience.”
Monograph interviewed dozens of architecture firms about their invoicing processes and learned it could also take hours for a principal or bookkeeper to understand the financial status of a particular project. Firms either configure a custom spreadsheet or run a custom report through their accounting system and compare it to their timesheet data. This invoicing workflow also includes the recently released Project Financials offering which allows firms to get a side-by-side look at project and financial progress.
Fortifying its mission to improve the architecture industry, re-designed Invoices is the third major feature debuted by Monograph in the last year, following Planned Profit Report and Profit Drivers. With Planned Profit Report, firms that subscribe to the platform will be able to enter their staff’s salary information along with their overhead cost, offering further visibility in a firm’s financial health while helping them grow their profit, the company said. Profit Drivers is the first-of-its-kind tool that shows users what categories make them the most profits, which includes types of projects, clients, team members and phases.
