Our approach to controlling the cost of our services is founded on three principles:
- Comprehensive Project Planning
- Low Fixed Costs
- Highly Competitive Billing Rates
Comprehensive Project Planning:
The key to project planning is experience. We know that our products generally support a larger project engaged in by our clients, such as litigation, or an ongoing construction project. We know how to develop our products to meet our client's milestones and then how to further develop our products based on the new information acquired at each milestone.
The greatest waste of client money occurs when the supporting professionals create products too early. The premature creation of professional products can potentially render them irrelevant based on the outcome of an intermediate client milestone. For example, during the early stages of a litigation, it typically makes no sense to prepare elaborate trial exhibits when the client only needs information that supports settlement negotiations. This is because the effort expended to prepare full trial exhibits will be wasted if early negotiations lead to a settlement. Similarly, during an audit of a large construction project, it makes perfect sense to seek feedback from the owner, and contractor, regarding preliminary audit observations before conducting the final phase of the audit and before preparing the final report.
Low Fixed Costs:
ResX is not burdened with the high overhead typically found in the national and international accounting/consulting firms. We do not have costly lease expenses or large administrative staff. Most importantly, we assign only senior professionals to client projects.
Our professionals know how to plan and execute the work in the most efficient manner possible. If junior staff are required on a project we will either use client staff if available or contract staff. This approach allows ResX to avoid the staff leverage model the large national and international firms suffer. Our competitors frequently burden projects with junior staff in order to profit from their billing rates, utilize staff when they would otherwise be idle, and/or provide on-the-job training paid for by the client.
We do not follow the large firm leverage model and we do not use our clients to fund staff training.
Highly Competitive Billing Rates:
Simply put, our billing rates are 50% to 70% of the rates charged by the large accounting and consulting firms. We know this, because the members of ResX are all former members of large firms that billed our services at rates that were 50% to 70% more than our current rates.