Method of determining pricing to ensure profitability
US7389276B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Sep 15, 2004 |
| Grant date | Jun 17, 2008 |
| Priority date | — |
| Expiry date | Oct 25, 2025 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/12
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method of determining pricing to ensure profitability for performance of a task by a business includes entry of employee data, business costs, job costs and business revenues; calculating a profit index factor from the data entered and providing ways of maximizing profit using the profit index factor as a baseline. The profit index factor is used as a baseline for performing analysis of operation profitability and performance; generating gross profit; and tracking profit on a job-by-job basis. The profit index factor is also used as a baseline for finding out how increasing operational expense will effect pricing; finding out increasing production staff will effect pricing; finding out how decreasing production staff will effect pricing; finding out the real burdened cost of billing one employee hour; and pricing service jobs to achieve or surpass a specific profit per hour target.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.