Nudge = More Revenue
Every activity we capture has the potential to be a source of cost recovery revenue. Every Dynamic Connect interface, notification and email has been designed to gently Nudge end users toward client billing. With Dynamic Connect we make charging to a billable code a little easier than it is to use an admin or write off code driving up revenue.
By adding Dynamic Connect with inbuilt Nudge technology we see a billable percentage of around 60% to 80% in Legal and Accounting firms and higher again in Strata. Without Nudge we’ve seen firms hit lows of 5%. At 5% you would have to question the value of the cost recovery solution.
ROI example
As an example, assume you bill prints at $0.40 per page and you print 40,000 pages per month. The potential revenue is $16,000 per month. Many factors affect the billable percentage but let’s assume 40% will be attributed to admin codes (written off), leaving 60% as billable. At 60% billable your achievable revenue is $9,600 per month, and by Nudging users that is achievable – But! If your staff are given an easy way to print to the non-billable codes you could see revenue down as low as 5% billable or just $800 very quickly.
The Dynamic Connect difference
Every interaction is set up for success to ensure you maximise revenue creation. By nudging behaviour in the right direction, we maximise your billable percentage resulting in higher revenues – And it doesn’t stop at the users. Our management dashboards show you who is performing and importantly who is not so you can effectively manage your staff and correct behaviours that are leaking revenue.
