Costlocker

How it works? We keep track of the costs of worked hours. Because we know people salaries + company overheads, so we can automatically calculate the costs for one worked man-hour. Once people tracking their time, they generating project costs (the costs of worked hours). And because we know a project budget, we can easily calculate the profitability and other financial metrics of projects, clients and employees. All in real-time.

What problem are we solving? To find out the profitability of a project takes a lot of time. You need the log of worked hours + project budget + hourly costs of every employee + fixed company overhead + spreadsheet where all that counts. The thing is that an SMB agency has +200 projects per year. So people don't do that even if they eager to know those data. Why? Because they want to know if their work financially pays off. Why? Because they do the business because of profit.

What is our solution? We count the profitability of projects in real-time. We save SMB agencies hundreds of hours per year not to count it manually in spreadsheets. By knowing this we know the profitability of every client or employee. We help them to manage their agencies on numbers, not feeling. It's pretty important to be financially effective if you want to work less or if you want to generate more profits.

Who wants our product or service? Agency owners. Why them? Because they make a living from the time estimates from which they calculate the project budgets. And if you want to generate a profit, you need to have a project costs under control. Let me give you an example: we invoiced monthly 10.000 USD and we thought it was a great deal. But when we entered that project budget into Costlocker, we found out that the estimated profit is only 300 USD. So we knew there's something wrong. But the sad reality is that the most of SMB agency owners don't know that. So they are surprised why their agency is not generating a big profit, despite their big turnover.