TrinityP3, marketing management consultants in Sydney, Australia, have released an iPhone business application designed to help agencies, marketers and procurement calculate costs and fees in any market and for any resource. The Resource Rate Calculator app is based on TrinityP3’s current online calculators and works with the variables involved in cost based agency compensation; salary costs, billable hours per year, overhead and profit margin.
TrinityP3 founder and Managing Director, Darren Woolley, stated “We deal with agency compensation and remuneration agreements every day and so calculating this is relatively straightforward. But for those marketers, procurement and agency people that don’t, this application allows them to calculate this no matter where they are in the world.”
The application, developed with Lomah Studios, simply requires the insertion of one variable, such as salary, and the Resource Rate Calculator app will do the rest. Ever wondered how much that head hour rate equates to an annual salary? Simply enter a head hour rate and the Resource Rate Calculator app will calculate the equivalent annual salary. If you know what a certain role or position is getting paid, you can calculate the head hour rate that person should be charged out at to justify their salary.
The free iPhone app was launched on iTunes on August 23rd, 2011.