Kantata Helps Cornerstone Improve Revenue Forecasting Accuracy By 20%
Industry
Professional Services
Client
Cornerstone OnDemand
What Kantata Replaced
OpenAir, Workfront, Spreadsheets & Business Analysts
The Challenge
Cornerstone’s commitment to clients required more than the limited time tracking, lack of financial control, and lack of project visibility offered by OpenAir. The biggest challenge for Cornerstone was managing their business through continued, rapid growth. The search for a resource management solution that could support them led to Kantata.
<a href='https://www.cornerstoneondemand.com/' target='_blank'>Cornerstone OnDemand</a> (NASDAQ: CSOD), an innovator in cloud technology since 1999, is the largest independent Unified Talent Management platform. It helps some of the world’s largest organizations along with thousands of smaller organizations recruit, train, and manage their people.
The Solution
Time Tracking
Kantata’s time tracking provided the detailed time logs that Cornerstone needed for accurate capacity planning to support project needs, moving past the limited capabilities previously used in OpenAir.
Resource Assignments
Kantata has also given Cornerstone the ability to track each team member’s assignments for stronger resource management, which was limited in their previous usage of Excel spreadsheets and a homegrown process for tracking resource data.
Resource Forecasting
Cornerstone gained resource forecasting capabilities with Kantata that allow them to both understand and prepare for upcoming demands on their team members, providing a level of insight and preparedness they needed to support clients around the world.
Benefits
- 20% improvement in services revenue forecasting accuracy
- 30% scale increase throughout company
- 4% increase in resource utilization
- Replaced 3 full-time business analysts
Scale increase throughout company
Improvement in accuracy of services revenue forecasting
The Results
Extended Forecasting
With Kantata, Cornerstone managers have a better grasp on resource forecasting, extending how far they can confidently project resource needs. Recently, resource forecasts have grown from 4 weeks to 10 weeks into the future, bringing greater preparedness. Today, Cornerstone has seen a 20% improvement in services revenue forecasting accuracy.
The Benefit of Best Practices
During their search for a solution, Cornerstone worked with RTM Consulting, a Kantata Partner, which helped them understand and adopt best practices to suit their needs and scale by 30% thanks to Kantata’s support in better understanding and fine-tuning their teams for a larger and stronger company.
Improved Resource Utilization
Kantata Resource Center has given Cornerstone much tighter controls over resource utilization and the data they need to make adjustments. Resource utilization rates have been trending up and within a short period of time have increased by 4% and continue to trend upwards.
Reports for Every Need
Cornerstone uses Kantata reports for fast and dependable insights, including partner reports, time entries, project progress, and more, which are automated and regularly sent. Kantata’s utilization dashboard within Kantata Insights and Resource Center give the company the data they need. Tracked billable rates, resource utilization, and more help Cornerstone make informed project, HR, and account decisions.
"We have a much tighter control over utilization now that we’re using Resource Center and we’re continuing to leverage Kantata more and more. We always felt that we were in good hands with the Kantata PS team."
Associate Director, Consulting, Cornerstone On Demand
