With our featured Contingency Consulting service, you owe nothing unless results are achieved. Fees are calculated as projected change in your profits over the first year, less costs to implement changes. Here’s how the process works:
- Business Purpose Review
Your overall goals for your business can have an influence on decisions large and small. Before we begin a project we need to discuss your business purpose so we can understand how to support your most important goals in our project work. Usually this requires two hours.
- Problem Evaluation
We’ll discuss what challenges you are experiencing, how improvements might be reflected in reduced costs or increased revenues, and what expenditures or investments might be necessary to achieve the desired changes. This exploratory discussion incurs no obligation and may take one to two days.
- In-Depth Analysis
Depending on the challenge we’re asked to take on, an in-depth analysis could require a review of financial information and other records, interviews with employees or customers, or time studies of internal operations. Based on this analysis, we outline recommended changes and expected costs and benefits. The time required will vary significantly depending on the problems identified in the previous step.
During implementation of recommended changes, costs are tracked and attributable costs for labor, equipment and services are approved by both consultant and client. Time and expenses can vary significantly based on the project.
- Results Evaluation
After changes have been established, they should be monitored to ensure they are appropriate and effective. This could take up to 90 days. The metrics and time period have been set during the In-Depth Analysis.
- Shared Benefit
Once benefits are confirmed, we calculate expected total benefits over 12 months. Project expenses for materials and tools are subtracted (but not capital costs). 30% of net benefits are due to Gallicant for consulting services; 30% are to be shared among employees affected by the project, for example as a bonus or a raise. The remaining 40% of projected net benefits are retained by the business.
Contact us to learn more about our Contingency Consulting service!
All terms of work, including terms of payment, are subject to establishing a signed contract.