Parallax
Parallax
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PROJECT FINANCIAL SOFTWARE

Project financials for all

Take the guesswork out of hitting your financial goals, it’s time to own your margin.

We’ve got your margin’s back

Enable your team to make project-level financial decisions like a CFO. Projects are now centered around financial goals from initial resource allocations to real-time project burn-to-budget insights to forecasted margin tracking. Course correct and hit your margin like clockwork. 

Democratized financial decision making

Your entire team has transparency into real-time project financials. Now, project teams are enabled to course correct when projects are burning hot to budget and before it’s too late. Profitability for the win!

Margin-focused resourcing 

Resource plans are built with profitability goals central to allocation plans. Scenario planning the right mix of resources to hit financial goals sets you up for financial success from project kickoff on. 

Plan to actuals, everywhere

Stop waiting until project post-mortem to identify causes of margin leakage. With Parallax, you are focused on real-time project variance metrics to keep projects healthy. 

Pinpoint margin makers and killers

Diagnose the project types and specific clients contributing to your margin and see which team members are contributing to profitable projects.  

We’ve got your margin’s back

Enable your team to make project-level financial decisions like a CFO. Projects are now centered around financial goals from initial resource allocations to real-time project burn-to-budget insights to forecasted margin tracking. Course correct and hit your margin like clockwork. 

Democratized financial decision making

Your entire team has transparency into real-time project financials. Now, project teams are enabled to course correct when projects are burning hot to budget and before it’s too late. Profitability for the win!

Margin-focused resourcing 

Resource plans are built with profitability goals central to allocation plans. Scenario planning the right mix of resources to hit financial goals sets you up for financial success from project kickoff on. 

Plan to actuals, everywhere

Stop waiting until project post-mortem to identify causes of margin leakage. With Parallax, you are focused on real-time project variance metrics to keep projects healthy. 

Pinpoint margin makers and killers

Diagnose the project types and specific clients contributing to your margin and see which team members are contributing to profitable projects.  

Why leading agencies choose Parallax

Revenue growth
Increase in billable utilization
Increase in revenue per billable employee
Marnus Venter Airship

Marnus V.

Senior Product Manager, Airship

“With Parallax, we’re able to look at capacity, assign the team, and have numbers and figures for the prospective customer to look at within the same day instead of spending a week or so to get the information and double-check it with everybody.”

Emily G.

Emily G.

Director of Project Management, Eight Bit

“Parallax is a much more robust tool than our organization has ever worked with. I love having insight into the sales pipeline, project profitability across active work, and resourcing and utilization management all in one place.”

Ria M Operations Manager

Ria M.

Operations Manager, Clear Digital

“Parallax has been a game-changer for our digital agency! Prior to Parallax, we were relying on manual spreadsheets to track our project health and budgets. As our agency scales, we had to replace our process with a more automated solution and the move to Parallax has been invaluable.”

How it works

Margin-focused resource allocation

The sales price in the CRM is sent to Parallax and becomes the budget for the project. Resource allocations are scenario planned onto each project, giving you line-of-sight into how each resource affects project margin goals. 

Financial settings

Customize financial settings like target margin percentage, billing model (T&M, fixed) and rate cards. Adjust bill rates by role/employee. Immediately see how these changes affect a project’s bottom line. 

Budget snapshot

Once final allocations are made, the project is activated which kicks the project into your time tracking system. Parallax takes a snapshot of the deal and tracks time/hourly rates against the original budget.

Financial risk alerts

Parallax focuses attention on projects at risk of missing financial goals based on actual + predictive burn to budget.

Project profit & loss reporting

Each project generates its own P&L outlining a detailed breakdown of project financials by offering. See details on offering target revenue, projected revenue, projected costs and projected margin.

Project financial performance summary

See a graphical representation of the project performance to financial goals. This view shows how your actual performance compares to target revenue and target cost goals.

Project financial performance details

Track details of all project financials including EAC% (Estimated at Completion), a crystal ball for project leads. EAC represents a combination of actual burn to budget and projected burn to budget, giving you an easy way to hone in on projects at risk of missing financial goals to take action on. See variance of plan to projected actuals for margin, hours, and revenue.

Multiple Location and Currency Capabilities

Set the currency that your business operates in. Parallax makes it easy to update currency to ensure bill rates and cost rates are based on where you do business. Do you have a business in multiple locations with different currencies? No problem, Parallax can handle that too!

Messaging and Notifications

Real-time visibility into project operations

Never miss a beat…or a margin, with customizable notifications. Update personal settings to deploy notifications on mentions, new projects, role changes, and updates to favorited projects. Get alerts the way you want with options for in-app, email, and/or Slack notifications.

Resources from our blog

Frequently asked questions about
resource management

Services organizations commonly use time and materials (payment based on hourly or daily rate), fixed fee (one agreed-upon payment after completion, no matter the hours), or retainer (ongoing agreed-upon payment in advance) billing models. Parallax supports all of these billing models, tracking team performance and costs throughout a project to reduce surprises and overages. 

Depending on the organization, finance teams, team leaders, and/or project managers are typically tasked with managing detailed business reporting across projects and teams. They need to keep track of costs, revenue, and overall business performance, alerting leaders of anticipated overages or underages as needed. 

People responsible for reporting project financials need to assess profit margins, compare trends across teams and services, forecast costs and revenue, and work to keep teams on track and budgets balanced. The vast majority are currently managing all of this with manual, cumbersome spreadsheets, which are time consuming and prone to human error. These experts often lack visibility into real-time insights without the right tools, leaving them in a constant reactive state.

Finance teams bear the brunt of outdated financial reporting capabilities—they easily get frustrated by a lack of visibility into project financials, frequently deal with overruns, and are always feeling reactive due to poor resource planning and projections. Plus, a lack of coordination between sales and delivery can lead to hot and cold financial periods. 

Weekly time entry from ALL employees allows those responsible for tracking project financials to accurately calculate project costs and identify potential issues in advance so the team can take corrective actions, such as adjusting timelines, reallocating resources, or discussing the situation with the client. This information is also crucial for estimating project budgets, allocating resources, and ensuring profitability for the organization. 

By combining project financials and resource management data in one view, finance teams, team leaders, and/or resource and project managers can view project actuals with planned hours to better understand and deliver forecasted revenue and costs for projects. 

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