EFF Factor smart practices – Part I This is a compilation of practices based on wisdom of experienced professionals / EFF Factor users from different fields. CTC of every user – No adjustment may be made for anticipated wastage of time, for calculation of CTC. This will ensure availability of realistic cost data on “idle time “and “office time”. Billing rates of every user- Adjustment may be made for anticipated wastage of time for arriving at appropriate billing rates.
Are our clients happy? How often is this question asked by the owners or top management teams of organizations in MSM sector engaged in rendering service? Clients staying with you for long may not be a sufficient reason for you to believe that they are satisfied and happy. It could simply be clients’ inertia. Or may be that he or she is not willing to pay what is known as switching costs like- Hassle, time
Enterprises rendering services as accountants, lawyers, architects, engineers, information technology firms, consultants in different fields face different challenges when it comes to efficient running of such enterprises. The people at the helm, with great talent, knowledge and experience in their own field are at times found to be struggling to achieve decent top line and bottom line. Most of the times the lack of good performance in such enterprises is not due to lack of
In the earlier blog, we spoke about three critical challenges faced to monitor Efficiency in Service Sector. In this blog series, we will discuss the very first challenge – The Input Cost Measurement. This challenge can be handled in a very simple but systematic manner as follows- Identification of direct employees All the employees right from the top to bottom who are directly engaged in rendering service to a client and spends how so ever little
In continuation with the blog series where we first discussed three critical challenges faced to Monitor Efficiency in Service Sector, and then the first challenge related to the Input Cost Measurement, we are now to discuss the second challenge about Measurement of output and Fixing it’s price. We would discuss it with an example. The service rendered may be called “ Audit” or “ designing for a bridge” or “ Filing of writ in High