Posted April 13, 2011
Benfield Consulting applies for patent
Benfield Consulting of Chicago announced the successful development and patent filing of a new managerial costing process for buy/sell businesses including wholesalers and retailers.
Labor Differential Transaction Costing or LDTC, is a propriety method of allocating operating costs to transaction types with labor differentials. The process follows the recommended new procedures of costing allocation including:
- Straightforward logic that is in the lexicon of the user, easy to use, and affordable to update
- One baseline logic that is currently measured and used in financial and operating reporting and management
- Ability to measure differences in capacity accurately within the baseline logic and identifies unused capacity
- Logic that is actionable with verifiable impact
- Logic that is easily scalable over millions of transactions with quick processing and current reporting
The patent filing and Patent Pending status is in queue with the U.S. Patent Office.
Filing number is U.S. Patent Application No. 61/471208 with a filing date of April
4, 2011. The application was filed by Richards Patent Law of Chicago.
