22 May 2008
An article that appeared in Architects' Journal on May
15 2008, refers to IRIS PROJECTminder as one of the most
popular tools used in practice to maximise profits.
Written by Hattie Harman, the piece accompanies the latest AJ100
analysis of the largest architects’ practices in the country and
looks at what makes them so profitable.
‘With profit margins a very sensitive matter’,
a financial management software package such as PROJECTminder can
help the practice ‘to make more astute decisions about where to put
your architectural effort’, the article goes on to say.
PROJECTminder clients, Hopkins Architects,
John McAslan & Partners and David Chipperfield Architects are
featured in the article. Hopkins Architects’ Finance
Director, Henry Buxton is quoted as saying that one of the major
advantages they have found through using the IRIS system is that
they now have the ability to catch overrun fees quickly and analyse
whether they are billable. The firm has 140 users of the
PROJECTminder system. Hopkins’ Buxton commented: “We can ask
ourselves immediately whether the extra time is down to us or due
to client changes’.
John McAslan & Partners Director, Natasha
Martin says: “We aim for a 15% profit margin before taxes and
bonuses and last year achieved 12.5%.” Although the practice is
divided into units which have their own individual targets,
profitability is measured practice wide with 90 current users of
PROJECTminder.
14 of the latest AJ 100 2008 use IRIS
PROJECTminder to help ensure that the profitability achieved on
individual projects is in line with the practice target including
David Chipperfield Architects with 60 users. Finance Director, Paul
Crosby cites the practice profitability target as between 20 and
25% and the target for increase in annual turnover as between 15
and 20% in the article.
Andy Heath, Sales Director at IRIS PROJECTminder said: “There is
always a high degree of anticipation before the publication of the
new AJ100 and we are delighted that 14 of the top 100 featured in
the 2008 listings are IRIS PROJECTminder clients. With architects
facing an array of new challenges, including dealing with uncertain
economic conditions, it makes sound financial sense to implement a
highly visible project management system that can ensure the
practice retains optimum profitability.”
