When Laura Cochrane left the world of large and medium-sized agencies to open LexPR, she consulted with a focus group of client-side communications executives to review “traditional” agency approaches and revise them to develop a customized approach for LexPR. Top of the list—agency billing.
LexPR created and adheres to a process we call “responsible billing.” We build our budgets based on experience and “best-case scenario” time estimates, and we issue our invoices against those estimates. Unless new assignments are added or existing ones are dramatically altered, we invoice based on these client-approved budgets — even if we go over in time spent on the assignment. It’s an all-in, no surprise billing policy.
One of the advantages of working with LexPR is our flexibility and willingness to customize budgeting and billing based on client needs and infrastructure. We can either develop a fixed budget based on an assignment or bill per hour on an assignment. LexPR reconciles all project budgets.
Similar to large agencies, LexPR maintains a comprehensive account of all billable and non-billable time. Our Hourglass subscription, coupled with a detailed docket numbering system, enables us to pull time records quickly for both budget estimates and client reconciliations when required. Unlike the big guys who are known to mark up their hard costs by as much as 30 per cent, LexPR does not mark up its hard costs. You pay what we pay on all disbursements.
LexPR’s rates are among the MOST reasonable in the industry. Whether billing by the hour or estimating time for budgets, LexPR billable rates are as follows:
Senior rate (including President, Vice President and Senior Consultant) = $200
Intermediate rate (including Consultant) = $175
Coordinator rate = $125
Administrative rate = $100
Our agency prides itself on being “on budget and on time” — all the time. Period.