Time And Materials Billing (T&M) is a type of payment method in which the client is charged for both the hours worked and the materials used on a given project. It’s an effective way to manage projects with variable costs and timelines since it gives both parties greater flexibility throughout the process. With T&M billing, clients can retain complete control over the scope of their project without having to commit to a fixed-cost contract. This makes it an ideal solution for projects that require agile development or have unknown complexities that might arise as they progress.
Want to find out more about procurement?
Access more blogs, articles and FAQ's relating to procurement