Customer Overview: Think Power Solutions (TPS) is a leading construction oversight firm that helps utility companies manage their infrastructure through cutting-edge technology and world-class consulting. As part of their work, they visit sites where work is happening and report on the progress or any other observations. This involved managing multiple crews across projects and required accurate data to keep track of work done, expenses incurred, and ultimately, revenue. 

‍

The Challenge: Each year, TPS prepares financial forecasts to estimate the revenue generated from their various crews. While they had a system to track this performance, the most recent data would be from a few weeks ago. This led to 2 main challenges: 

• Any deviations in actuals from forecasts were spotted a lot later than they would have liked 

• Any course correction involved a lot of time, effort, and manual work 

In general, the lack of real-time data delayed their ability to react to gaps in financial performance, resulting in cost overruns. 

‍

How KYRO Helped: KYRO’s comprehensive timesheets feature provided TPS with real-time visibility into time spent across projects and crews, a level of detail they hadn't had before. KYRO also flagged anomalous entries such as excessive overtime or mismatching expense claims, simplifying the resolution process and speeding up approvals. Armed with all this, TPS’s accounting team was able to close their books faster, with accurate data in hand and fewer back-and-forth confirmation loops. 

More importantly, TPS utilized KYRO’s AI-powered Copilot to unlock deeper insights. Copilot allowed them to instantly retrieve months’ worth of timesheet data and compare it against their projected revenue. With just a simple prompt, TPS could dig into discrepancies between actual performance and forecasts, making quick decisions to correct course before issues snowballed. 

‍

Key Use Case: For example, if a specific crew’s actual revenue was trailing behind the projection, TPS could quickly pin point the root cause—whether it was lower-than-expected billable hours or higher expenses—and make real-time adjustments. Copilot not only retrieved and analyzed the data but presented it in various formats (tabular, graphical, etc.) for more in-depth review. This agility greatly transformed TPS’s ability to monitor financial performance, keeping them on track to meet their annual goals. 

‍

The Results: By implementing KYRO’s timesheets and Copilot features, TPS experienced three key benefits: 

1. Faster Financial Closings: With accurate timesheet data available on a weekly cadence, TPS could close their books faster and more efficiently. 

2. Proactive Financial Management: With the ability to compare real-time data against projections, TPS could course-correct when necessary, avoiding costly overruns.  

3. Culture of Ownership: TPS has now been able to develop a culture of ownership among team managers, as they now have direct visibility into their crews' financial performance and are encouraged to take corrective actions

‍

Looking Ahead: TPS continues to rely on KYRO’s forms, timesheets, and Copilot features to ensure they stay on top of their financials and meet their revenue targets. The data management and real-time insights provided by KYRO have not only improved efficiency but also laid the foundation for long-term financial health and success. 

‍