About Future Mind
Founded in 2008, Future Mind is a software development company offering a broad scope of services, ranging from mobile development to web development, from IoT to IT consulting.
Since its inception, the company has delivered over 150 mobile applications, confirming its high standards and exceptional working ethics. This customer-centric approach resulted in exponential business growth, earning Future Mind its place on the Forbes Diamonds 2020 list of Poland’s most rapidly expanding companies and the annual Financial Times 1000 ranking listing Europe’s fastest-growing businesses.
- Industry: Software Development
- Size: ~70 employees
- Use cases: Resource management
Overview
As the company grew, Future Mind was determined to adapt its processes to the rapidly growing headcount. Unfortunately, its tools, which could not facilitate the expanded processes, could not support the transition.
With no financial forecasting, comparisons of plans and actuals, and advanced permissions, managers’ hands were effectively tied. Paul Josiek, Chief Operating Officer, felt the impact of their struggles firsthand, as he, too, was unable to delegate responsibilities or monitor projects live. He was also trapped in a vicious cycle of fruitless planning meetings that resulted in plans filled with mistakes and inaccuracies caused by oversimplified processes.
Fortunately for Future Mind, BigTime Foresight was able to salvage the data from the old system, convert it into more intuitive and accessible resources, and provide the company with a complete overview of all its processes – of course, subject to different access levels.
Challenges
Increasing its headcount by at least a dozen full-time employees a year, Future Mind was determined to make the most of its time. The company needed flawless planning processes, customizable access levels, and instant reporting to do that. Unfortunately, Future Mind’s former tools could not provide either of those features.
Paul Josiek, Chief Operating Officer, was particularly concerned about constant errors in planned projects. Without draft allocations or forecasting, he could not test different scenarios and choose the most optimal solution for his business while avoiding mistakes—and those problems were bound to worsen with the future expansion of his team.
As a result of all these inefficiencies, Future Mind lacked a single source of truth that would support its processes and allow different departments to access important data and was struggling to facilitate further growth.
Issues Future Mind faced before BigTime Foresight included:
- Inaccurate and time-consuming planning: Paul could not draft plans for the future and test different scenarios to choose the optimal path for his projects and teams. This put the company at risk for inaccurate planning – all while forcing the managers to spend hours managing the plans.
- Reporting limitations: Future Mind couldn’t track project progress or individual work effectively. As a result, the team couldn’t compare their forecasts against the actual outcomes of their projects or improve their performance while the operations were still underway.
- Lack of customizable access levels. Future Mind could not delegate responsibilities or share information with their employees due to a lack of customizable access levels, leaving the managers unaware of key processes they could improve with the right data at hand.
BigTime Solution
Future Mind sought a tool capable of combining financials and resources from a long-term, company-wide perspective, and BigTime was happy to provide such an overview.
The implementation of BigTime allowed Future Mind to delegate responsibilities in a blink of an eye. Then, the managers with newly granted permissions could dive into resource management, creating accurate allocations with smart filters and draft plans while remaining as accurate as possible. They could also simultaneously calculate the costs of work.
Lastly, Paul could use the information from teams and projects to the company’s advantage. With data collected in a single system, he can generate advanced reports within seconds, quickly monitoring people, operations, and finances and make better business decisions.
With BigTime Foresight, Future Mind now has:
- Advanced adjustable roles: Paul can now set different access levels for different employees to give them control and a chance to improve their operations while protecting sensitive data.
- Precise and quick planning. For Future Mind managers, endless planning meetings are over. Now, they can check people’s availability, test various scenarios for future projects and task, calculate their costs, and choose the best option within a few minutes.
- Instant reporting with a live overview: BigTime automatically collects and processes data on projects, plans, and financials from the entire company and converts them into reports, providing the managers with a complete overview and valuable insights.
Results
BigTime’s capabilities drastically improved Future Mind’s processes, allowing them to scale regardless of the headcount and manage all the KPIs from a bird’s eye view. As a result, Future Mind greatly benefited from the change, saving countless hours wasted by planning errors and allowing its employees to proactively use key data to improve the future of their business.
Results:
- Thanks to precise planning, bench time was reduced by 3,500 hours, allowing the managers to utilize their employees’ time as efficiently as possible, resulting in thousands of dollars in savings.
- Reduced time of planning meetings: With all the data in a single system, managers now need minutes, not hours, to create draft allocations, test different scenarios and make the best decisions for their teams and projects.
- Accelerated decision making: Advanced on-demand reporting provides an instant overview of plans, projects, and finances, as well as essential data to make decisions and execute quickly.