Challenges Before Costlocker

As Adison expanded, managing project profitability and tracking time effectively became a challenge. The agency relied on a mix of tools like Toggl and Excel, which led to inconsistencies and inefficiencies. Financial reporting became increasingly complex, and spreadsheets quickly became overwhelming. The team needed a unified system that could streamline time tracking while offering clear insights into project profitability.

Why Costlocker?

Costlocker stood out as the ideal solution due to its ability to integrate time tracking with profitability analysis. Unlike their previous fragmented approach, Costlocker provided a centralized system that offered transparency and control over financial performance.

How Costlocker Transformed Operations

With Costlocker, Adison achieved:

• Unified time tracking – Eliminating scattered systems and ensuring consistency across all projects.

• Profitability insights – Gaining a clear understanding of which projects were financially viable.

• Structured financial management – Simplifying budget planning and financial reporting.

"A great slave, a horrible master. Costlocker enables us to track team hours and evaluate project profitability with clarity." — Alžběta Fridrichová, Strategic Consultant & Partner

Implementation Challenges and Solutions

Adison initially faced hurdles in structuring budgets within Costlocker, as the tool assigned hourly rates to activities rather than positions. To adapt, the agency created separate activity categories for different seniority levels, ensuring accurate cost calculations. Additionally, educating the team on real-time tracking required internal training and well-defined processes.

To streamline billing and invoicing, Adison implemented clear internal rules:

• Account managers input all billing data and cross-check external expenses.

• The finance team verifies and finalizes invoices before closing projects.

• A structured process prevents errors and ensures smooth financial operations.

Current and Future Goals

Adison continues to refine its financial strategies, particularly in balancing competitive hourly rates with profitability. The agency is working on optimizing its pricing model while maintaining efficiency. Costlocker remains a key tool in helping them analyze trends, adjust pricing, and make informed financial decisions.