Effectiveness of Milestone-Based Billing Model
Milestone-based billing model develops a long standing partnership between a client and the contractor – based on mutually decided terms and conditions. Under this model, client can benefit in the fact that they know a company can consistently work upon the decided requirements because there is scheduled revenue to be paid at fixed points. Companies benefit in the fact that client will pay based on mutually decided schedule rather than waiting for a large amount of payment until the project fully completes.
How it affects Productivity
Milestone-based billing is a highly efficient way of increasing productivity rates. Lump sum compensations of services often leave resources exhausted too soon whereas a milestone based billing approach keeps the cash-flow coming in, making it easier for the service provider to maintain a rhythm of work and output. On the other hand it also offers the client company to avoid huge one-time payments. The milestone-based billing approach is a win-win for both parties.
Why You Should Consider It
Milestone-based Billing is typically adopted to larger scale operations which are expected to last over months, making it more sensible to offer a payment method in parts over a consistent and regular cycle. Projects with higher price-tags also call for Milestone-Based Billing as it offers the client company to make payments in parts and all the while keeping an eye on progress of the work. We at PureLogics highly recommend a health involvement by client companies in the work delegate in order to ensure the work is going on the right track and according to the requirements of the clients.
Convenient Payment Method
Not only is Milestone-Based Billing known to improve productivity and efficiency, but it also provides a convenient payment solution for big projects which is suitable for both parties involved.
More Reasons to Get your Platforms Crossed!
There is certainly no end to the vastly beneficial approach to mobile development that is, cross platform development. However, here are some of the features that should interest your fancies that wemight have missed to mention in the above portions: