Thought-leadership research from McKinsey, Deloitte, BCG, Bain, and Simon-Kucher consistently shows that effective pricing models outperform cost reductions or efficiency improvements. Below is a practical breakdown of pricing best practices, reflecting on 2024–2025, and how they apply to teams using project management software or managing financial workflows.

1. Select a pricing model that matches your work

According to Bain & Company (2024), choosing the correct pricing model is one of the most important decisions in a service-based business. Bain highlights that transparent, outcome-aligned models create stronger client relationships and reduce scope disputes.

Common models supported across industries:

• Hourly pricing for variable or undefined scope

• Fixed-fee pricing for structured deliverables

• Retainer models for ongoing advisory

• Value-based pricing for high-impact outcomes

These principles apply broadly across teams using creative team software, an engineering or agency management platform, or organisations refining their internal pricing strategy.

2. Understand real costs before setting prices

McKinsey & Company (2024) emphasises that most pricing errors come from incomplete cost visibility. Without full insight into labour, materials, subcontractors, and overheads, prices drift below sustainable margins.

Cost clarity supports:

• Consistent pricing across similar projects

• More accurate forecasting

• Better control of margin erosion

Teams using account management software or relying on a structured quote to invoice workflow benefit significantly from building pricing around complete cost data.

3. Review pricing regularly, not just annually

Simon-Kucher (2024), a global pricing advisory leader, recommends reviewing pricing at least every quarter. Market conditions, inflation, client expectations, and competitive pressures shift faster than annual cycles allow.

Regular reviews support:

• Updating rates when costs rise

• Adjusting models as service offerings evolve

• Preventing long-term underpricing

This aligns with the needs of organisations managing detailed budgets using financial management or project analytics tools.

4. Build flexibility into pricing structures

Deloitte (2024) reports that flexible pricing is increasingly important in service organisations as client scopes evolve. Hybrid pricing models, combining base fees with variable components, allow teams to respond to changes without resetting entire contracts.

Flexibility helps maintain stability across:

• Expanding project scopes

• Multi-stage work

• Performance-driven outcomes

This is particularly valuable for agencies balancing shifting workloads through resource scheduling and employee capacity management.

5. Communicate pricing clearly

BCG (2025) highlights that clear explanations of pricing, inclusions, and change conditions reduce friction and lead to more predictable engagements. Simple documentation and consistent templates make this easier to achieve.

Pricing communication can be strengthened using:

• Structured estimate templates

• Standardised rate cards

• Clear definitions of out-of-scope work

These practices benefit teams using team collaboration software or managing multiple client touchpoints in project communication.

How this connects to Wiplist workflows

Teams managing operational delivery in project management software benefit from pricing structures that integrate cleanly with project data. Within Wiplist, features supporting pricing clarity include customisable estimates, structured rate inputs, and connected financial workflows. These help teams apply the best practices recommended by thought-leadership firms, without altering how work is planned or delivered.

Whether you’re publishing a work management blog, sharing project management insights, or refining internal pricing guidelines, aligning your approach with proven research from leading consulting firms strengthens both profitability and client confidence.

References

Bain & Company. (2024). Pricing strategies for service organisations: How to align value and fees. Bain & Company.

BCG. (2025). Transparent pricing and client communication in professional services. Boston Consulting Group.

Deloitte. (2024). Adaptive pricing models: How flexibility supports modern service delivery. Deloitte Insights.

McKinsey & Company. (2024). The importance of pricing discipline in service-based industries. McKinsey & Company.

Simon-Kucher. (2024). Global Pricing Study 2024: Pricing trends and margin performance. Simon-Kucher.