1. From Chaos to Success Journyx, Inc. www.journyx.com
How Better Cost Accounting can Propel Your Company to Higher Profitability
Presented by:
Curt Finch, CEO
Journyx, Inc.

2. About me and my company:
I am originally from Virginia and went to Virginia Tech (go, Hokies!)
I developed the idea for Journyx while working for TKG
I founded Journyx in 1996 in Austin, Texas
Today, we have close to 1,000 customers, including Bayer, Crate&Barrel, Big Brothers Big Sisters, Callaway Golf, Schlumberger, BP, and lots more
Do you view time as a finite resource? You never get it back. My mission is to help people spend their time on things that matter (and are profitable).

3. 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
Been studying this subject for a while
Written a few articles on it
A chapter in my book on it
It’s something I’m interested in
Lots of kool stuff out there and I’m here to tell u all about it 3

4. How many of those failed projects were yours?
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?
While the recession has hit many businesses hard, others flourished and continue to grow. The difference? Those companies that succeeded were able to get an intelligent look into their financial data to make cuts and invest in future projects that made the most sense.

5. Are you ready? 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?

6. Chaos: Most Companies Have Been Here
Over commitment is common
Processes abandoned in crisis
Successes are difficult to repeat consistently 6

7. The first step is to take the first step Start tracking time
Start tracking projects
Start tracking expenses 7

8. Have you worked where people track time but no one trusts the data?8

9. The Transition Stage:
Everyone tracks labor hours on a per-project basis.
Your focus is to gain more insight into your project cost accounting data:
Track costs
Report costs
Know your data
CHECKLIST:
People have begun tracking their time, projects and expenses
Before you know where to go, you must learn what to avoid. Failing projects, wastes of time, improper allocation of resources. Though some pitfalls are bigger than others, all can damage the health of your company. 9

10. What are the worst parts of project cost accounting?
What good can come of it? 10

11. The Structure Stage:
Now that you know your costs, you can improve cost estimations
Institute a feedback loop
Ask the right questions
Adjust as necessary
Continue to improve future estimates
CHECKLIST:
People have begun tracking their time, projects and expenses
You have insight into project cost accounting data
Before you know where to go, you must learn what to avoid. Failing projects, wastes of time, improper allocation of resources. Though some pitfalls are bigger than others, all can damage the health of your company. 11

12. What bad things happen when you don’t understand costs?
What have you seen or heard of? 12

13. The System Stage:
1. Put better goals in place that are measured by metrics:
S – Specific
M – Measurable
A – Attainable
R – Relevant
T – Time-bound
Put Key Performance Indicators in place
Billability
Adherence to estimates
Percentage of projects profitable
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
Before you know where to go, you must learn what to avoid. Failing projects, wastes of time, improper allocation of resources. Though some pitfalls are bigger than others, all can damage the health of your company. 13

14. What are some good KPIs you use in your company?
What are some you wished you used? 14

15. You’ve arrived at the Success Stage!
The final step is to improve resource allocation
procedures:
What is each resource assigned to?
Does everyone else know this?
Are you sure the resource is yours?
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
Before you know where to go, you must learn what to avoid. Failing projects, wastes of time, improper allocation of resources. Though some pitfalls are bigger than others, all can damage the health of your company. 15

16. What happens when people don’t know who is assigned to what?16

17. Final 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
Improved resource allocation process 17

18. Thank You!
Find my book on Amazon:
All Your Money Won’t Another Minute Buy: Valuing Time as a Business Resource
Connect with me on social media:
facebook.com/Journyx
linkedin.com/company/journyx-inc
JournyxInc
Draw your own map, create your own destiny, your map awaits you. This is your world that you create yourself. It's fluid and ever-changing. The information has always been there. You just have to uncover it. Its up to you. How will you navigate your map?
Read more on this topic:
blog.journyx.com
Office: 18

19. Please leave me your card!
Thank You!
Please leave me your card!
If you would like a copy of this presentation, write a P on your card
For our sales team to give you more information on Journyx products, write an S on your card
For general questions, write a Q on your card
Draw your own map, create your own destiny, your map awaits you. This is your world that you create yourself. It's fluid and ever-changing. The information has always been there. You just have to uncover it. Its up to you. How will you navigate your map? 19