Real Time Real Money (RTRM) is a system imitated by MTAA and its state and territory members on behalf of the motor body repair industry in an effort to move away from funny time funny money.
A major benefit of the RTRM is that it allows for the additional times it takes a technician to prepare for and clean up after an operation. Previously time references focused on the time it took from the application of the first piece of equipment through to the completion of the operation. RTRM times measure this as well as the productivity time on either side of this process.
RTRM acknowledges that when it comes to estimating panel repair times there are additional time consumable such as filler, drill bits, grinding discs and blades that need to be accounted for in addition to the labour involved.
RTRM also acknowledges that in addition to the direct costs of undertaking a body repair there are also indirect costs that impact how much it cost per hour to undertake the repair. These costs differ for each business and incorporate costs such as; depreciation, administration, energy expenditure, lease expenditure, training costs, rates and taxes, telephone and communications to name just some. (An AMBRA and MTAA endorsed rate calculation tool to assist motor body repair businesses to determine their costs per hour is found under the business assistance section on this website)
The RTRM method of quoting is different to older methods of quoting however it has been designed to interface with the existing systems used for quoting.