Rocketlane 2024 Wrapped: How we Productized Service Delivery

As 2024 comes to a close, we’re taking a moment to reflect on the strides we’ve made together!

Here’s a quick look at how we helped you deliver more—faster, smarter, and with greater impact:

• Took our first step into AI with Resource AI, enabling you to build high-margin, right-skilled teams in seconds.
• Simplified financial management with revenue recognition, bringing more accuracy and ease to month-end and quarter-end processes. Plus, we introduced all-new Invoices for a smoother billing experience.
• Unlocked new revenue streams by making it easier to manage recurring client work through Subscriptions.
• Gave your post-sales teams a 360° customer view with Accounts, ensuring no detail gets missed.
• Elevated customer engagement with our fully customizable and embeddable Customer Portal, designed to deliver delight at every touchpoint.

At the heart of it, we set out to productize service delivery–making your day-to-day smoother from project creation to delivery, and now invoicing! 

If you missed anything along the way, now’s the perfect time to catch up!

Managing people and finances 

Build your dream team in seconds using ResourceAI

Unlock the power of AI with Rocketlane's Resource AI. Effortlessly assemble your ideal project team by balancing skills, availability, and workload. Optimize for your desired business outcomes, whether it's achieving workload balance or maximizing profitability. It also integrates seamlessly with Rocketlane's dynamic templates, providing ready-to-go plans from scratch. 

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Perfectly align your team’s skills with your project needs

All your skills are neatly organized and mapped to your resources in one place. You can align the right team members with the right projects—ensuring that project requirements precisely match everyone's skills and proficiency levels. And not just that, with visibility into your skill set and future project demands, you can develop strategic hiring plans quickly and effectively. 

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Staff projects faster with a streamlined resource request process

If your project staffing processes is bogged down by manual steps, scattered systems, and endless emails–you’ll love Resource requests! Effortlessly manage and fulfill resource requests, ensuring you always have the right people in place, exactly when you need them.

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Simplify project billing with Invoices

Whether you’re managing Time & Materials, Fixed Fee, or Subscription projects–we’ve got you covered. Track and approve time, generate invoices, and monitor payments—all in one place. Enjoy customizable multi-step approvals for added accuracy, full visibility into payment statuses, and seamless integration with tools like QuickBooks, Sage, and NetSuite.

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Newer ways of recognizing revenue

1. Milestone-Based Revenue Recognition: Align revenue recognition with your project milestones. This is perfect if you prefer recognizing revenue as you hit key project achievements. Set it up once and let your revenue recognition run automatically.

2. Manual Revenue Recognition: Want total control instead? With our manual option, you decide when and how much revenue to recognize. Ideal for those who use different tools for financial management or need a tailored approach to meet unique business needs.
   
3. Custom revenue recognition: Take charge of exactly which hours contribute to revenue with ease. Recognize only billable, approved hours, or even exclude time for specific roles or departments with our easy-to-use filters. Now prevent revenue leaks, maintain accuracy, and trust your revenue data exactly as it is with Rocketlane.
   
   

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Managing projects and processes 

A smarter way to manage effort across your projects

Set exactly how many hours each team member needs to contribute at every phase of your project—no more guesswork. Automatically convert planned effort into real-time allocations, keeping your resource plans perfectly in sync as timelines shift.
Monitor progress in real-time by comparing planned efforts with actual tracked hours, spot deviations early, and keep your project on track with ease!

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Manage recurring client work with Subscriptions

Rocketlane makes managing subscription-based projects straightforward, offering real-time visibility into all aspects of your subscription periods. You can now stay ahead of contract milestones, monitor budgeted hours closely, and maintain a holistic view of your financials across projects, covering costs, margins, and revenue.

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Effortlessly manage agile and waterfall projects together

Rocketlane adapts to your unique project needs by uniting your agile and waterfall methods under one roof! Every stakeholder— project managers, the executive team, those getting the job done, and your clients, now has unified, end-to-end visibility. Collaborate in real-time to prioritize tasks, feedback, and approvals. Once a sprint is completed, dive into performance insights on everything from burndown to velocity.

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See the complete customer story with Accounts

Access everything you need to know about your customers—projects, sentiments, engagements, financials, and more, with a single account-level view. Stay tuned into customer sentiments, spot risks early, and keep account-level profitability in check. The organized updates and summaries help you lead account reviews with confidence. No more endless check-ins or complicated project boards.

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RBAC for enhanced control

With Role-Based Access Control (RBAC), admins can now ensure that users access what they need to perform their tasks reducing the risk of unauthorized changes. RBAC offers a detailed checklist, providing granular control over the resources a user can access and the actions they can perform. Whether it's viewing projects, reporting time, or managing specific project elements, RBAC adapts to your needs and details. 
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RBAC for Time-tracking 

Now, you have more granular control over who can track and approve time on specific projects—whether it's their own, their team’s, or across the entire organization. This means you can ensure that only the right people have access to the right data, keeping your operations secure and efficient.

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Business Intelligence 

Say goodbye to spreadsheet woes with Custom Reports!

With Custom Reports, dive deep into your data across any dimension—people, projects, roles, tasks, or time tracking—and choose your visualization style. Whether it is understanding the profitability or the time to value of projects across various regions, products, or services, all the insights you've been craving or struggling to access are now effortlessly within reach, just a few clicks away!

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Elevating Customer Experience 

Reimagine how customers engage and experience value with you

Deliver a sleek, website-like experience that unites every post-sale interaction in one place—from kick-off to project delivery, hyper-care, and beyond. 

It’s a centralized hub where project plans, feedback, and resources come together, empowering your customers to unlock value faster and stay aligned at every stage. No steep learning curves! It’s embeddable right in your product and fully customizable to reflect your brand’s personality—from colors, fonts, and themes to logos.

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We’ve also introduced powerful enhancements to make work smoother:

• Flexible date automation lets you adjust timelines by linking any date fields, such as due dates, launch dates, or release dates—keeping your schedules perfectly in sync.
• Scheduled automations take care of repetitive tasks like reminders or forms.
• Seamless customer communication when you’re OOO and stand-in team members auto-notified.
• Enhanced project views allow you to customize columns and sort data intuitively for what matters most.
• Mobile timesheets make logging time easy, wherever you are.
• Pie and donut charts simplify data visualization for quicker insights.
• Partner Central helps you track partner time and profitability effortlessly.
• Jira integration updates bring real-time status syncs and due date alignment.
• Task webhooks sync real-time data with any system you need. 
• Percentage-based capacity allocation lets you assign time based on a person’s capacity. 
• Override cost rates at the project level to apply accurate rates over time to calculate forecasted and actual costs.
• New automations for allocations let you delete and shift allocations by project or start date with ease.
• Custom revenue recognition for T&M projects let you specify exact subsets of hours should count toward your revenue.
• RBAC-gated sharing of saved views ensures only users with the appropriate permissions can share saved views with platform-wide access.

Looking back at everything we’ve shipped in 2024 only makes us more excited about what’s ahead in 2025! 

Stay tuned for smarter project delivery powered by AI, a more seamless and elevated customer experience, and innovations designed to help you do more with less effort.

Need help uncovering any of the features mentioned above? Reach out to us anytime at care@rocketlane.com.