Challenges Before Costlocker

As the agency grew, tracking invoicing and project profitability became increasingly difficult. Infinity Vision lacked a reliable way to determine whether all work performed was being invoiced correctly. They needed a system to monitor financial performance, ensure accurate billing, and assess individual contributions within the company.

Why Costlocker?

After evaluating alternatives like Basecamp, Teamwork, and Easyproject, Infinity Vision chose Costlocker for its strong focus on financial performance and invoicing oversight. The tool provided:

• A transparent overview of all work completed and billable hours.

• Real-time insights into profitability across projects and departments.

• A structured system for tracking team contributions and financial efficiency.

"Thanks to Costlocker, we’re now able to use our KPIs to evaluate rewards for both specialists and managers, calculated as a percentage of the paid project profit margin. This system highlights each team member’s contribution to the company." — František Barta, CEO & Co-Owner

How Costlocker Transformed Operations

By implementing Costlocker, Infinity Vision streamlined its financial management and invoicing process. The agency adopted two key rules:

1. No untracked time: All work must be assigned to a project—no time can remain in “No Project” status at the end of the month.

2. No closed project without invoicing: Projects are only considered complete once all work has been properly billed.

These measures led to immediate improvements, including the discovery of €4,000 in billable work that had previously gone unnoticed.

Key Insights Gained

Costlocker provided Infinity Vision with a deeper understanding of:

• How much time employees spent on administrative tasks versus client projects.

• Which clients consumed more time than they were paying for.

• The effectiveness of different departments and their impact on the company’s bottom line.

This level of transparency not only helped optimize profitability but also encouraged employees to take greater responsibility for their time management.

Implementation Challenges and Solutions

Adopting Costlocker wasn’t without challenges. Encouraging the team to track their time consistently was difficult at first. To address this, the leadership team:

• Demonstrated the value of time tracking by showcasing financial insights from early data.

• Integrated Costlocker data into performance reviews, reinforcing the importance of accurate tracking.

• Emphasized team accountability, ensuring everyone understood their role in maintaining accurate financial data.

Current and Future Goals

With a firm grasp on financial performance, Infinity Vision is now focused on:

• Increasing overall efficiency by analyzing resource allocation.

• Measuring the time invested in sales and marketing efforts.

• Refining department-level cost tracking to optimize profitability further.