“What’s your hourly rate, mate?

Hmmm….that is  a quarter of what goes here….lemme try them out and see….

Wait….the guy over there in the other country… he may not be as switched on…but he’s even cheaper… what the heck, it’s just keying in stuff….nothing’s complicated …..

Hey look, you may be cheap, but I can do the work in a fraction of your time, not to mention the time I spend reviewing your work. I’m beginning to see why your rate may not be as attractive as I thought earlier….”

Some of us have been involved in strikingly similar conversation and others have at least heard it in the market.

Time based billing is fast being replaced by fixed billing. Output and not effort is going to be the focus. Hourly rates provide a perception of cost efficient or premium services as the case may be, but output or deliverable connects with value.

What keeps firms that are not yet on board from getting there sooner?

The answer is Workflow Management. In fact the very workflow culture has to change. It becomes important to understand and define the deliverable that the client values. Then the processes and tasks behind each deliverable needs to be defined. When the discrete components of the workflow become clearly visible, we call it a digitized workflow. Nothing like a digitized workflow for efficient resource management.

Offshore outsourcing for lower hourly and FTE rates may not be as attractive as before. The new wave will be talent engagement with deliverable based billing. Global talent can be mapped on to digitized workflows for improved cost efficiency. Talent engagement will be reviewed and remunerated for deliverable.

6 Reasons Why StylusFMS can assure you greater value through a deliverable based model 

  1. Pioneers of workflow digitization in accounting and bookkeeping: Process mapping and work break-down to digitize your workflow
  2. Wider range of competencies involved in your digitized workflow
  3. Deliverable priced for offshore cost efficiency giving you best of both worlds
  4. Managed digital workflows mean you are freed from micromanagement
  5. Digitized workflow gives you greater visibility, control and long-term sustainability
  6. Fully backs you on your own deliverable model with your clients.

Interested in learning more? Get in touch.