Struggling with pricing strategy
Edit: I want to thank everyone for their suggestions. Moving forward, when meeting prospective clients, I decided I'll be charging them 10-30% of their annual savings (changing the percentage depending on the project's complexity). The next issue to resolve will be how to quantify those values without clients trying to cheat on those values or without spending too much time measuring impact. Now I know Reddit's community will be here to help when the time comes!
I've been in talks with some people at an accounting firm. They have an enterprise level Microsoft Copilot Premium subscription. They mentioned how they have been trying to use Copilot to automate certain tasks but the results are unreliable. I can easily fix their issues by creating a custom agent that would live in their Copilot widgets. That should increase the accuracy and quality of the output to the standards they need while keeping things simple enough for their old-school consultants. The whole project shouldn't take more than 60 hours of work. Because their business unit is composed of 100 people, saving them 1 to 3 hours of manual work per week would translate to 400-1,200 hours of work saved every month. I'm new to this type of consulting work, so I'm struggling with the pricing. The first strategy that comes to one's mind is to charge them an hourly rate for 60 hours work. But their savings are huge. At the same time, the people I'm talking with at this firm would know that the complexity of the work involved is not that great. I also have an interest on getting a fully satisfied customer to increase my chances of getting referred for future work. I'd love to gather some ideas on how to proceed here.