Increasingly, the topic of most conversations, television programs and newspaper articles is the current state of the economy. The legal and insurance industry has also seen an impact from the recession and is searching for ways to control expenses and litigation costs, particularly in the areas of litigation support or forensics. CED Investigative Technologies Inc., with a deep history in the United States Navy, has long built its reputation on navigating through troubled waters and being extremely efficient when it comes to minimizing costs and controlling expenses. CED's cost conscious behavior is not a current fad, but rather has been a way of doing business for over 20 years. Over the years CED has discovered several areas that experts should closely scrutinize including:
1. Travel Expenses
CED engineers and clients work together to find the most cost effective way for the engineer to travel, whether it's by airplane, train or automobile. When discount airfare is available, sometimes the most cost effective way to travel is by airplane; this reduces travel times. CED engineers typically perform a travel analysis to see which method of transportation will save the client the most money. CED does not bill for travel down times – engineers try to bring additional case work so that downtime in airports and elsewhere can be efficiently billed thereby reducing travel expenses.
2. The Team Approach
Since CED has a large array of engineers ranging from senior to junior levels, CED will distribute work in a team approach. If the case has tasks that can be performed by a junior engineer, then the senior engineer will include the junior engineer on the case (as they are at a lower billable rate) to help save money and also more efficiently analyze a case in a shorter time frame.
3. Research Library
Most cases concerning personal injury or product liability require research for codes, standards and compliance. While other forensic and accident reconstruction companies may bill clients for extensive research on codes, CED has compiled an electronic library of codes for quick retrieval by engineers in any of our offices. This decreases research time significantly.
4. Controlling Expectations
The key to controlling costs comes down to managing expectations. CED engineers are trained to keep in constant contact with their client to manage expectations of a case. CED engineers will contact clients to get approval for any project that he or she would like to conduct to make sure that the client is aware of the potential costs. CED also bills on a regular cycle so clients are constantly updated as to the cost of a project. Billable events are in tenths of an hour – this enables the client to see the details of the work performed and avoids charges for rounded hours.
CED has remained in business for over 22 years not by accident, but by providing value and cost efficiencies to our clients. CED will continue to find ways to navigate through troubled financial waters and join with our clients in providing efficient, cost effective and timely engineering advice and support; this is why we have one of the best reputations in the forensics and accident reconstruction business.