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5 Steps To Smart Price Fixing

Posted by Eff Team on  October 6, 2020
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Category: Blogs
It’s simple, be nimble- Part 3 Pricing methodology shared below facilitates achievement of all the objectives discussed in the previous article i.e. Maximum utilization of the capacity, full cost recovery ( direct cost and indirect cost) , making sufficient profit, and efficient liquidity management . Step 1:  Ascertain direct cost per hour for every person in the firm engaged in rendering service to the clients (referred to as a direct employee in this series of articles), based on

It’s simple, be nimble- Part 2

Posted by Eff Team on  October 6, 2020
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Category: Blogs
Pricing strategy objectives. Let me share my thoughts on the primary objectives identified in the previous article. 1.    Cost recovery Whether bad times or good times, making profit is the main objective of every firm. That in other words means , earning enough income to ensure recovery of all the costs. Typically, for professional firms, most of the costs, including the manpower costs, are considered to be indirect costs or overheads. However, for earning income, the firms use

It’s simple, be nimble- Part 1

Posted by Eff Team on  October 6, 2020
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Category: Blogs
Pricing strategies for professional firms The new financial year has not been easy to most. Professionals like CAs, lawyers, Engineers, consultants and others in the service sector are no exception. But can we wait for safe and secure world to emerge, to start evaluating options to meet the challenges of “New Normal”. It is time to rethink everything that will ensure speedy recovery and growth of the firms. The most important element in any firm’s
directions

K for Corona

Posted by Eff Team on  October 6, 2020
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Category: Blogs
Prosper or Perish When people were getting familiar with some alphabets like V , L, U , W to describe the possible Post pandemic recovery of economy, there is new letter K on the scene with which everyone of us especially professionals like CAs, Lawyers, Engineers and consultants need to get familiarized. K letter for recovery tries to explain phenomenon which is already visible in the stock market, job market etc. The recovery will be
a women working with and keeping track on time
1.    Why time-tracking is essential? Service sector is essentially engaged in selling time of it’s employees, managers, partners, directors etc. to the customers. Time is valuable but perishable. Perishable because every minute or hour delivered by the firm to the customer, in the course of rendering a service, leaves no trace or evidence of the delivery / spending . The only way to capture the spending of time is to record the same. Unless the service provider
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