Like architects and engineers, IT or computer consultants are also project-oriented. They share many of the same characteristics and pain points. Again, BillQuick Online is a project-centric software that meets or exceeds all their expectations.
A unique characteristic among IT companies is prepaid services. They can discount standard bill rates because they get payment up-front. This is justified as revenue in-hand, instead of waiting for a client to pay an invoice. Thus, bill rates for prepaid services are usually lower than for post-paid services. Prepaid services involve keeping track of every minute with exact details because clients will demand accounting for their up-front payment. Exact time is required, whether you are in your company office, at the client’s office or traveling.
To improve productivity and profitability, IT consultants often multi-task when providing Help Desk and other services. They usually work with two or more clients at the same time through chat logs, online sessions or on the phone.
Management must know how much of the prepaid amount or retainer remains so that it can contact the clients to replenish the funds and discuss increasing the total amount because of higher-than-estimated service activity.
These companies share many of the same billing and collection issues as architects, engineers, accountants and attorneys.