Fee Technologies

In what could be one of the boldest advances in business technology in several years, Fee Technologies, a Tulsa, Oklahoma based software development firm, announced the release of its new Profit Solver software. “It’s revolutionary,” said Fee Technologies president, Dan Zalta. “It allows you to calculate exactly how much revenue and profit is being generated through inventory, labor, and equipment. It gives you a way to be truly competitive in an ever-changing marketplace.”

Profit Solver is a program that uses a series of equations to aid business owners in calculating precisely what to charge for their services. “It’s unlike anything else on the market,” says Zalta. “All other programs start with the assumption that you know how much to charge for services and calculate revenue from there. But no one actually tells you how to set those rates- until now.” Designed to aid small business owners, the software starts with known factors such as inventory, equipment purchase costs, and billable labor and, using a profit percentage set by the end user, calculates fees that ensure that the business recoups expenses and makes a profit. Profit Solver is not designed to replace existing industry specific and accounting software, but rather to serve as a compliment, answering the most important question, the top line in accounting and billing- “how much do we charge?” The program has already met with substantial success.

Zalta’s previous iteration of the software, Fair Fees, which is already in use nationwide, has recorded substantial savings for its users. Dr. Terry Ford of the North Dallas Veterinary Hospital reported that Fair Fees helped boost profits at his three doctor practice by over $200,000. Originally Zalta developed Fair Fees to help friends in the Veterinary field, but soon realized that his product could be beneficial to service professionals across a much wider spectrum. “It just made sense to give people the flexibility to develop and assess their own profit centers, so we set out to develop the technology to meet our vision.”

Profit Solver breaks down every service a company provides according to the labor, equipment, and inventory required, the length of time a specific service takes, and individual labor rates. This enables the user to see what their most profitable services are and where they might need to make adjustments to make other services more profitable. Additionally, the program calculates a total fee that is then presented the client and ensures that the company is recouping expenses and making a profit at the predefined rate. “In short, it takes the guesswork out of rate setting and enables business owners to do what they’re best at, run their business,” said Zalta. Profit Solver can be purchased through the Fee Technologies website at www.feetech.net and plans are underway to release it through other outlets in the near future.