Driving Profitability Charging the right amount and controlling costs
Following on from the DBA’s 2011 Charge Out Rates and Salary Levels Report * it's clear that the margins design consultancies are making are being squeezed by higher salary costs and static charge out rates. Having reduced salary costs in 2010 in order to maintain margins, consultancies are now concentrating on retaining their key employees.
This is in the expectation that retaining their key employees in the expectation that when market conditions improve they will have the necessary skills to service clients in the most efficient way.
In this webinar we will demonstrate how to calculate charge out rates using salaries, costs and expected utilisation rates. We will also cover the basics of reconciling projects on their completion and basic tools to ensure costs are being controlled.
The webinar will cover:
Charge out rates
Marking up third party costs
Employee vs freelance resourcing
Project financial reviews
Speaker - Chris Lang
Chris has been working in the Marketing Communications industry for over 20 years. In 2007 he formed Flash Accounts Ltd with the aim of providing small and medium sized companies with a full internal finance function without the full time cost. We call this “in-sourcing.” Chris and his team have worked with many companies over to past 5 years to help improve their financial performance, not only by processing day to day data but also improving processes and commercial awareness throughout the company. This approach ensures high quality information and therefore better decision making at the top level.
* Only senior contacts of DBA member agencies will be able to view this report once logged in.
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