Value for money is the foremost thing a person should focus on when they want to consider investing in an application. But many people who are interested in app development do not realize that there are different models they could use for billing that would fit their development needs in a better way. For anyone who is smart enough to invest in applications, and services relevant to it, this article is for you! Congratulations, you have landed on the right page

When it comes to taking a digital service, particularly in the software industry, there are multiple billing models that are offered by the service providers and developers. In this blog, I am going to cover the top 4 billing models that are used while availing IT services. Hopefully, the next time you take a service, you will pick a cost-effective model and save the rest of your money for some ice cream

Milestone Based billing model

Milestone-based billing model develops a partnership between a client and the contractor based on mutually decided terms and conditions. Under this model, clients can benefit because there are scheduled revenue to be paid at fixed points. Companies benefit from the fact that clients will pay based on mutually decided schedules rather than waiting for a large amount of payment until the project is fully completed

Project-Based billing model

Project-based model, also known as the Fixed bid model is a plan that helps a client make better negotiations on bids for a certain project before its commencement. For the project-based model to work in your best interest, it is better to analyze if you have, a clear view of your idea, complete details of the task that you want us to undertake, and a clear time frame of when the task has to be delivered

Time Tracker based billing model

Many times there are software design requirements whose complete detail is not known at the beginning of the project. There can be unpredictability and several modifications during the design. When a project that is unpredictable or requires modification has to be designed, time tracker-based billing comes in handy because these models allow you to bill by the hour. You keep the track of time and get paid according to the hours and materials you invested in doing the work

Dedicated Resource based billing model

Your organization cannot be left lacking a customer support cell. Along with managing many other operations, you also have to attend to your customer support cell all the time! What do you do then? You can outsource a dedicated resource for your organization! A dedicated resource service can integrate your customer support cell while you are left with more space and less monetary investments, not to mention cutting several costs that can make a difference for you

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