Time and Material (T&M) Billing is a method of billing for services that does not involve any fixed price on the front end. Instead of having a single, predetermined fee for a project, T&M billing calculates cost based on actual time spent on the job and materials needed to complete it. It makes sense to use T&M billing when projects require specialized skillsets, can’t be estimated in advance, or are more complex than originally thought. With T&M billing, you’re only paying for what you need – no more, no less. This flexibility allows businesses to stay agile and take on more ambitious projects with confidence.
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