Billing Rate Maintenance - For the Changing Needs of Business

Professional Services

Easy maintenance of billing rates:

Business is constantly changing. Projects are moving along fine and then – just when you least expect it, the project comes to a screeching halt. Resources are put on hold and instructed to work on another project until the details of what happened are reviewed and a clear go forward direction is defined. Once the details are known, the project takes a turn. For example, the customer now requires the project be completed one month earlier than originally planned. To complete the work on time requires additional resources to be assigned to the project. As a result, the team members (resources) must work extra hours for the upcoming month. To cover the overtime, the billing rates need to be adjusted up.

Project focused organizations review their business at least annually, if not more often, to ensure they are offering competitive pricing while maintaining a healthy profit margin. The ability for the software to be updated at whatever frequency the company deems necessary, while retaining a history of billing rates, is a key feature successful organizations expect from project software to help them run their business.

How does Beyond Software allow you to easily maintain your billing rates?

Billing rates can be assigned to a project in two ways; by assigning a table of rates to each billable project, or create override rates for any exceptions to the standard rate table. Exceptions are defined on a project-by-project basis. Every rate has an effective date and a hierarchy of lookup that supports standard rates and exception rates. When a rate needs adjusted, the changes can be made to the standard rate or the exception rates.

PictureDefine billing rate exceptions on a project-by-project basis

Want to learn more about Beyond Software? Contact us or watch this short short video on flexible billings.

Topics: Professional Services

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