What are Lump Sum Projects?

Lump Sum Projects represent a type of service in which one party agrees to pay the other a fixed amount for a service or product. In this case, the company saves money because payment is made up front, eliminating the need to pay for time spent on the project.

This contract provides that the total cost of goods or services is agreed upon from the beginning, with no further payments until all work is completed.

Akera excels in popular technologies to implement multi-device, multi-platform and multi-vendor software solutions.

Benefits of using Lump Sum Projects.

This type of contract offers several advantages to companies:

  • Lower risk: The company knows exactly the amount it will pay before work begins.

  • Flexibility: The company can adjust spending according to its needs without the need to renegotiate with the partner.

  • Predictability: Payment remains constant, regardless of the amount of work performed.

  • Reduced administrative costs: The contract structure simplifies billing, saving time and money.