Industry production standards

What are Industry Production Standards (IPS)?

"IPS is the industry's methodology for computing time for document production and non-keyboard administrative services. When applied using your hourly rates, IPS becomes the business center's most valuable resource in estimating and calculating time and charges for a full range of services." Office Business Center Association Intl. Click here! to visit their site if you wish to purchase the IPS.

I quote from a great article:

"So you look at the service provider's price list and it may say something like, ''Word processing, $30.00 per hour, Desktop Publishing $40.00 per hour.'' The problem is, you don't know whether you will end up paying for one hour of work or four!

Industry Production Standards are published to solve that very problem: calculate ''standard'' time to complete the work."

Click here! to view this article which explains IPS very very well.

So IPS avoids clients being overcharged by slow workers who would bill for more hours of work and helps you as a VA set a fair rate for all manner of administrative work. But equally the IPS allows faster more efficient workers to not suffer because they're billing for less hours, thus avoiding the penalty for efficiency syndrome.

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