PIA to Offer Budgeted Hourly Rates Software Through Profectus
Printing Industries of America's Center for Print Economic & Market Research announced an agreement with Profectus Inc., a national consulting firm that helps printing and packaging organizations improve their business, to offer CostRatesAdvisor.com, Budgeted Hourly Rates Software at a special price for Printing Industries of America members.
The Printing Industries of America Center for Print Economics & Market Research offers various management tools such as the Ratios Financial Benchmarks, Quarterly Print Market Updates, Flash Reports, Strategic Planning Report, Wage & Benefit benchmarking and Customer Feedback Management programming for free or at a significant discount to members. The Cost Rates Advisor Budgeted Hourly Rates Software fills a need that will help members develop their own hourly rates.
Cost Rates Advisor determines the minimum hourly rate a printing company must charge for its production equipment and services in order to break-even. The cloud-based software uses industry best practices and formulas to calculate a company's out-of-pocket costs based on their expenses, employee wages, assets and production.
The Cost Rates Advisor will benefit members through Printing Industries of America Affiliate Organizations by providing an accurate picture of their costs, so they can confidently and profitability estimate, price and cost jobs. It will help members eliminate pricing errors that can lead to lost work or lost profits, and improve estimates to make them more competitive and profitable. The program will be even more valuable for members participating in Printing Industries of America's Ratios program. Members through Printing Industries of America Affiliate Organizations are eligible for a special member price on a one-year subscription.
"Printing companies need cost rates that reflect your own costs so they can produce cost estimates, make pricing decisions, track actual job costs, report work in process, and conduct financial reporting," said Craig Press, president of Profectus. "You can't correctly utilize cost-based software without accurate BHRs."