Continuous Cost Cutting Process vs One-Time Initiative
At Expense Consulting, we spend a lot of time thinking about vendor costs and management. However, we recognize that there are tremendous amounts of internal cost cutting opportunities everywhere. While some are obvious, sometimes you have to dig a little deeper to find them. We’ve developed a few thoughts on potential areas to pursue:
Reports: How much time and energy is wasted on generating reports that may have been valuable at one time but no longer serve a purpose? Don’t be afraid to ask why certain reports are being produced and ask if there’s a better way.
Controls: When was the last time you looked at who could commit the organization to an outside agreement or purchase? Without tightening your controls, you could be spending on areas that aren’t a priority.
Reuse: It may sound silly, but why go out and buy something new if you already have it in-house? Get a good grasp on your organization's consumables from office supplies and computers to furniture.Software
Licenses: On a similar note, many organizations buy more licenses than they need. Get a good handle on your actual needs and ask your suppliers for additional cost-saving options.
For best results, incorporate cost saving initiatives into your ongoing operation. One of our best tips: ask your staff for ideas. You may be surprised by the answers. As always, Expense Consulting stands ready to help.
Every business consumes energy. We hope you find this chart useful when benchmarking your energy costs. Please note, Expense Consulting is a licensed utility aggregator, so be sure to contact us for the best possible energy pricing.
About Expense Consulting Expense Consulting is a full-service accounts payable auditing and cost reduction consultancy, helping organizations significantly reduce operating expenses. Since 2009, we've helped hundreds of organizations recover millions of dollars of over-billings and have secured millions of dollars in future cost savings. To learn more about reducing your organization's expenses, contact us at (860) 761-3500.
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