The Cost Cutting Service
We provide a free and confidential cost cutting facility to your business. As qualified professionals with a vast number of years' experience in management accounting roles we are able to analyse all costs associated with the running of your business.
Increasing Profit
Increasing profits by increasing revenue is harder in the highly competitive markets we find ourselves in today. Businesses are lavishing large budgets on acquiring new customers through advertising, marketing initiatives and incentives. Many businesses will also spend a large budget on retaining customers, which is good business practice, as it is cheaper to retain an existing customer than to acquire a new one. All this additional expenditure to keep and gain customers will directly hit the bottom line figure, impacting on profit which is the ultimate goal of all businesses. It is much easier, cheaper and quicker to increase bottom line profit by cutting costs - which is where a cost cutting service comes in.
Different types of costs
Costs are not simply overheads such as phone, utilities, office supplies, printing etc. They also include financial costs such as interest paid on loans and overdrafts. We have the experience in analysing all these costs and the knowledge and supplier contacts to ensure that they are reduced substantially. We will also cut the costs associated with increasing revenue, through decreasing the cost of printing, advertising and marketing or by making the same budget stretch that much further. Clearly, for a large number of clients, their biggest cost may well be the core materials and products required for them to run their business. We understand that our clients are the experts in sourcing these materials and products, but they may well have limited time to find better deals. We are therefore on hand to help find better priced and/or higher quality materials if requested by our client. This is done through various national suppliers as well as our strategic procurement partners who are able to source materials internationally to help keep costs down. There are also hidden costs such as low returns gained from company pensions and saving schemes. The Cost Cutting Service is not a financial services company, but if we spot that a client may not be getting a good return on their company pension or savings schemes then we have contacts with the qualified financial advisers who can help.
Who can gain?
Any business can gain from our Cost Cutting service. The size of the company is irrelevant as the same principles apply to all from the sole trader to the PLC. We offer a simple review, reporting, recommendation and implementation service which allows the current in-house procurements team (which may well be the sole trader himself) to continue with the supplier relationships on an ongoing basis. For those larger companies (or smaller ones who have no time) we can offer a completely outsourced procurement service with our strategic partner. This completely cuts out the need for a procurement department (or at least a large procurement department) providing substantial cost savings to the business.