Question:
I am concerned about
keeping my rates to a minimum. What can be done to minimize rate
increases?
Answer:
Rate increases are a reality for all
segments of businesses and can’t be stopped. They can, however, be
minimized. In fact, we have taken tremendous steps to keep our rate
increases as low as possible.
Our primary method of doing this is to
introduce technology and automation in areas where it can reduce the
work of our staff. This allows them to work more effectively and
efficiently. In addition, automation allows us to continue to provide
personal service while adding the greatest value to our clients.
Overall, our rate increases over the
years have averaged below the rate of inflation. We are proud of this
fact and it is our goal to continue working to keep costs minimal. Like
other businesses, our biggest expenses are labor and infrastructure. As
with other businesses, the cost of labor and overhead increases every
year.
We also spend a great deal on technology
and our phone network. Although portions of these categories have
decreased such as computers and long distance, other areas have
increased substantially. Those increases have a significant impact on
our annual budget. The overall expenses increase over time, just like
for any organization.
Even with our moderate rate increases, we
continue to provide a highly efficient service that offers significant
savings over hiring additional employees.
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