Richard Brett: What is 'rev rec' & which metrics matter?

Which metrics should you track, to run your agency as efficiently as possible?In this episode we speak with Richard Brett. Rich is a seasoned FinOps professional with 15+ years of experience, including a decade in the agency world. Rich has played a key role in scaling agencies, setting up financial processes, and supporting sustainable growth. Rich will take us into a deeper dive of agency finances, starting with revenue recognition – recording revenue when it's earned, not when payment is received – and explain why this is so important. Next, we’ll discuss key metrics and the kind of decisions you’ll be able to make using each:Utilization: see how effectively your team’s time is allocated to billable work, helping identify resource optimization opportunities.Recovery: shows the actual revenue generated from billable hours worked, highlighting areas of over-servicing.Billable paid: shows the proportion of billable work that is successfully paid for, helping assess the financial health of client engagements.Future month work value: projects the expected revenue from booked hours in upcoming work, allowing for proactive resource and budget management.Finally, Rich will tell us 5 ways we can influence margins through agency rate cards.Rich now runs his own consultancy, Rich Brett FinOps, providing bespoke financial services to agencies.Follow Richard on LinkedIn: https://www.linkedin.com/in/richard-brett-36903590/Follow Harv on LinkedIn: https://www.linkedin.com/in/harvnagra/Stay up to date with regular ops insights. Subscribe to The Handbook: The Operations Newsletter.This podcast is brought to you by Scoro, where you can manage your projects, resources and finances in a single system.