Cost Rates Reviews
A service designed to help you understand your costs, improve your profitability and support better management
Having a productive business with a high turnover of work is satisfying – but just how profitable is it? The answer to that depends on the prices you charge relative to your costs.
TPG Training and Consultancy can help you work out precise answers to those questions.
The Cost Rate Review Service regularly identifies companies that are undercharging for their services. This may produce new business wins in the short term; but if that work is not properly priced due to the true costs of the work involved, it will not be sustainable over the longer period.
Correct pricing of your services – which takes into account all costs, including machine operation and overtime – will factor in consistency and ensure profitability for your operations. In addition, precise and accurate pricing can help give you an edge over your rivals; assist with budgeting; improve your Management Information System; and assist you in developing a more effective workflow.
One of our consultants will evaluate your cost rates, looking at your operations in their entirety. They will then produce a spreadsheet model, showing the benefits more accurate cost rates will generate for your business.
The result produce a robust platform for your company’s development and growth, protecting you against the effect of raw materials price fluctuations and helping you operate more competitively.
The advice will;
- Assess your entire operations
- Evaluate the true costs
- Identify machinery run-times, unusual shift patterns and excessive overtime
- Calculate the true costs of your services
- Produce a spreadsheet model showing the benefits of more accurate cost rates
Our Cost Rate Review Service will help you:
- Accurately estimate and cost jobs
- Price for profit
- Improve the accuracy and reliability of your MIS
- Produce detailed budgets and forecasts
- Create Key Performance Indicators such as chargeable
- hours, machine use and targets for staff
- Meet best practice
- Enjoy greater competitive advantage