Focus on Fees: Best Practices in Alternative Billing Models

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Like most client industries, much of consulting is being disrupted. One aspect that has changed significantly over the last several years is billing and fees. What was once a pretty straightforward hourly rate or fixed fee has evolved into a more strategic conversation between clients and consulting firms about alternative models—typically performance or success-based models that reward consulting firms for results.

With mandates to determine ROI on projects, it’s not surprising many clients are asking for firms to have a little skin in the game, frequently opting for performance-based billing as part, or even all, of its spend. While fixed fees are usually the safest route, savvy firms are embracing these client conversations and are eager to prove value. New pricing and revenue recognition models can prevent client concerns regarding unexpected fees, as well as provide real and attainable project benchmarks.

But getting from hourly or fixed fees to an alternative billing model can be tricky and how a firm approaches the process is key to its ultimate success. To explore this topic, plan to join us online April 25 and uncover answers to such critical questions as:

  • Are alternative billing models right for you? When do they work best?
  • What are best practices in billing—fixed fee vs. standard reoccurring vs. variable?
  • Which fee structures are best for you and the client?
  • What client conversations should you be having about performance-based billing?
  • What billing metrics should be used to determine project success?
  • What steps should your firm be taking right now to run your business more profitably?

PLUS—get answers to your own questions by industry experts during the live Q&A session immediately following the presentation.

Hosted by Consulting Publisher and Editor-in-Chief Joe Kornik, this webinar promises a 360-degree view of the topic from industry experts and leading consultancies. This event is offered free of charge to consulting professionals courtesy of our sponsor, Sage Intacct.