The Financial Service Reforms are coming. It's time to get ready.
From 1 July 2012, the landscape of the Australian financial services sector will change forever. To make sure you are ready for this change, it's time to start planning how your firm will shift from commission and volume based payment structures to a model of "Fee for Service" charging.
Implementing a "Fee for Service" model will involve major changes to your internal systems and can take months to effectively implement. Factors such as how to calculate staff chargeout rates, how to price your range of services, and how to monitor time spent on projects must all be resolved well before you introduce the model to your clients.
One software solution you may consider is Sage Timeslips, our most popular choice of software, as it provides you with benefits such as timers, simple billing, automated reporting and KPI dashboards for analysing firm productivity.
The clock is ticking, now is the time to act, and through careful long-term planning, we at Time & Data Management can implement, train and provide you with on-call support to smoothly integrate Sage Timeslips into your systems.
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