Costs can be simply defined as money or resources associated with a purchase.
There are four types of costs: Marginal – only variable cost is allocated. Doesn’t include fixed costs; Standard - predetermined on certain standards; Absorption - fixed and variable costs are absorbed; Historical – determined by actual costs and not predetermined standard costs.
Costing is crucial for managers to make decisions. Having effective cost management is the road to glory.
Workflow automation will allow you to simplify your organization's processes and improve productivity by assigning low-value manual tasks to automation and responding to high volume demands that can reduce human decision-making. Working with workflow technologies we can extend the decision-making process through processes such as smart tickets. For example, automating repetitive tasks and processes such as change requests, escalation of incident reports, and resetting of passwords frees up resources and reduces the number of human errors.
For the last decade, break-fix pricing was the dominant billing model throughout the industry. MSP’s simply billed their clients depending on the time and resources taken by a technician to fix any issues. However, as IT infrastructure becomes more complex, developed, and popular, pricing models got more complex.
The most cases, a client has the freedom to choose from the different types of billing, as well as add-on services that further fulfill the picture. The manual billing methods couldn’t keep up with the complexity that shaped modern MSP services. When manual billing couldn't satisfy your needs, Support My MSP can offer MSP’s automated billing solution.