What can SMPs do to cope with fee pressure?
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The SMP Committee released the article “How to Cope with Pressure to Lower Fees,” which offers seven tips for coping with fee pressure.
- Adopt New Approaches to Pricing
- Stress to Clients the Value of Services Offered
- Focus Efforts on Most Valuable Clients
- Leverage Technology to Improve Processes and Lower Costs
- Re-examine the Practice’s Service Offerings
- Find Cheaper Sources of Supply
- Tackle Overheads
What else can SMPs do to cope with fee pressure?
For more information on fee pressure, see Module 3 of the Guide to Practice Management for Small- and Medium-Sized Practices.
Note: IFAC member organizations are invited to use the article in their journal(s), newsletter(s), website, and other forums and activities. For access and permission to use the article, email email@example.com.