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94 ideas to reduce costs and improve profitability

Introduction to the 94 ideas for reducing costs and profitability

"Want 50 Great Ideas knowledge construction benefits you can put to immediate use in your business to increase profits and reduce costs? "

If YES read all of these ideas have been implemented by customers and have benefited from their companies to to dramatically increase their profitability. Most ideas can be put into action immediately. Every idea has the potential to give many points% increase in net benefits.

Research shows benefits increased by 4% -56% and reduce costs by 18% -37% within 2 years by simple 5-step process called card advantage model. In general, a reduction of 5% the cost of performance is sufficient for companies with the largest deficit.

Companies can calculate the value of savings from these two simple formulas

If the company recorded loss

Total costs and expenses = absolute value of sales + + loss / income tax – that is, X =

saving you do at least 2 years = 5% of X (which was calculated above)

If the company received benefit

Total costs and expenses = Net income + sales + tax – that is, Y =

minimum savings you done in two years = 5% Y (as calculated above)

 

What If can you save? Improve your profits?

 

 

General Warnings for improving revenues and reducing costs

1. The recycling and reuse. Plastic bags, envelopes and other providers containers are good bags of trash. Another example is to use the standard version with boxes printed on the front of the envelopes to provide information about internal mail traffic. Once received, the recipient can be reused again to send your mail to another employer internally.
2. How about saving and reusing photocopying or printing, where there were errors in the brochure or printed. If it does not contain any confidential information of these waste materials can be used to write or scribble notes from the staff that use new laptops and notebooks. The ideal is to stop buying new laptops and notebooks. It saves money and the environment.
3. Learn to copy and print on both sides of the paper. Buy printers and copiers that can do it easily and provide a company policy requiring all employees photocopy of both sides of the paper.
4. Insulation for the roof, attic and walls (including exterior wall electrical outlets) absolutely save you money over time. Much of this you can do yourself. While you're there check the caulking around doors to the outside, if can be seen today between the door and frame – the purchase of a roll of adhesive foam gasket and closing the door cracks.
5. Consider investing in the elements reusable. Rechargeable batteries are a good option if your battery consumption is high – The question to ask is: why is the battery consumption and high what can be done to reduce this?
6. Have a policy of not smoking or reduce the smoke in time. Many staff spend much time outside the office areas smokers. Sometimes accompanying staff spend much time together productive.
7. Limit alcohol on the premises of the business and functions. Alcohol is an additional expense, can be removed completely, or at least significantly reduced.
8. Obstruction on the inside of your organization and staff together and raising money for Footy Lotto and presentation! They are acts of personal staff during working hours.
9. with paper napkins and paper towels detention. cloth towels are more absorbent and can be used over and over again. Cleaning also much better than paper.
10. Consider buying before doing so. Ask yourself if you need or simply want. Do you have something that will perform the same task? Is it good or should be replaced after a few uses? More importantly, are you ready to bring its improved profitability and cost reduction targets have? If an item is superfluous just say no.
11. Use the 24 hour rule. Wait 24 hours before making the purchase of non-critical.
12. If you sign non-essential services, such as satellite radio, mentally prepare to cancel service and then call their accounting department. Tell them you are canceling – will be transferred to several people, but every time I tell the truth – you want to cancel because you can not pay for the service. If you insist, we offer a discount – a substantial reduction – to continue the service because it is much cheaper for they keep a customer to get back. If they want to give you a discount – and do cancel the service without at the same time save money.

Alerts on profit improvement and cost reduction

1. Not only consider the cheapest option – certainly not always the best option. Many, many times, the initial savings will cost you later. Sifting through the life cycle cost, plus acquisition costs.
2. If you buy used, make sure … This is particularly true of cars. It is worth the investment to have a mechanical control of the car (at least that is competent on the subject – Are you sure?).
3. Do not go overboard completely. It's great to be frugal, not very happy to be petty miser. If staff has to do some very good business but keep your priorities.

Phones and Communication

1. When is to consider consolidating all your landline phones, VoIP and cell phones. In this way, you will be able to rationalize the number of lines and methods of communication and reducing costs. You can also use the simplified list to negotiate with your service provider or its competitors for Low rates.
2. When it comes to Cellular phones wondering if most of the staff they need. Once again considers that rationalization of staff working in locations outside and should contact the head office, or vice versa.
3. When cell phones are set clear rules on their use. Any violation of this should be borne by the employee and recover their wages.
4. Consider sending SMS or short messaging service or e-mail members staff in foreign places or those who may travel abroad with whom you can communicate.
5. Consider the use of VoIP such as Skype or Google Gchat. For example, costs Skype U.S. $ 4.00 for unlimited calls to all mobile phones in Australia or a month. Given the cost of U.S. $ 109.00 per month Optus for the same privilege.
6. Cable TV if necessary for your business. Instead you have cable TV special in the lobby, may be a good idea to use the preview. Your customers or suppliers who use their lobby would not seek full screen shows or movies that are broadcast on cable television during the hours.
7. Understand your traffic patterns and what they spend most of your phone company or know that He said. Many companies rely on their support to tell them what to do. This is wrong and reflects laziness laziness> by the person making the determination. Given the choice, a telecommunications company subject to sell a Mercedes-plated in gold, whether you need a lease for 50 years, which only increases the cost of each year, can never be eliminated, even when the wheels have fallen a lot. Not fall into this trap. You make the rules. It's your money!
8. Package their services in something you can explain to the company on their terms. Measured by the shipping department, type, distance and unit costs of the market. Make it all up to the ideal granularity absolute height of 100,000 feet.
9. Identify the minimum level of services required to meet the needs of your organization. This does not mean cheap, it means that the combination services you buy must meet your exact needs, without being superior or inferior to their needs. You do not have to pay for the widgets that you can not use, and you do not want your users to dispense with the services that are essential to the success of your business.
10. Identify companies offering services in places that indicate the need for service. For example, what if the XYZ company has national service to major cities if your primary location is not on your list. Get market compositions from reliable sources. Operators can say the best rate is nickel, while others may have to pay a penny, can never illuminate beyond what they need. Other users top of the scene probably rate better information, you can exchange informally. Do not just look at interest rates which are generally followed, but it looks complete list of services. Recognizing that the largest firms with the largest payment are not necessarily the best prices. They often suffer ossified contracts that were postponed after many "good deals" have been reduced. Carriers are always quick to include others who are paying more money than you. Do not worry, just to mention the highest, while maintaining a private bargain.
11. Invite all companies compete for your business that has any chance of winning your business. Although only a single circuit. The more the better. Do not invite companies not seriously consider giving their companies, the horse is called "stalking." If you do this, the market is the respect you. Do not give a clear advantage, while all other firms are not. Make it fair. Use an equal footing. Making all in competition with the same information, published at the same time and under the same rules. Do not give anyone more time than you could do inside. Open the information from all private companies, which shares with the minimum number of people needed to do the inner work. The more people who know their influence from within, rather than share it with the market, not its advantage.
12. Set rhythm. The incumbent will use excuse after excuse to delay the process. Why should I help accelerate the process, which shall only have to write a couple of juicy profits that occur in your business? This is no time for nostalgia. Define the terms you, your calendar and assigning companies earn your business. Not in the past. In the present. Once you have tentatively identified a carrier, be sure to find a list of two or three others who also may be sufficient. Never tell a company that the result is that when you have their contracts signed. It is a very small community of suppliers, and your information will be shared (Again for the worse) if they reveal before the transaction.
13. Measure and report all of your margin of success to their leaders who can understand how it works.

IT Department Telecommunication Cost

1. Your IT department should implement systems for WAN connectivity costs, including circuits, T1 type services and other telecommunications services used for remote office connectivity.
2. Identification of costs – Prepare a list of physical of all your data online, circuits, etc, created for remote office connectivity. Include information that will help you assess the needs of adequate facilities for later, such as location, bandwidth, and the number of users to the site. Create an inventory of all telecommunications costs of its recent bills Carrier telecommunications. Telecommunications costs can be up to 1.2 percent of turnover or more, depending on the composition of your business. Office des Changes, the growth by acquisition, and other issues can create situations that are "ripe" by inspecting what you pay. Reconcile invoice details with the inventory list of connectivity created the first step. It is, compare what you think you have what you are getting charged. For companies large or even smaller with many offices, this is no small thing. Then get ready for an intense project or ask for help outside of those related to telecommunications bills to live.
3. Total this circuits / lines that are no longer used or which may be eliminated. Measure this and the potential savings is in reducing the bandwidth of some services offices remote while providing adequate response time.
4. potential savings are in: lines, circuits are no longer used or needed, the possibility of create services for remote operation, the ability to reduce bandwidth, while maintaining acceptable processing speeds.
5. In companies with large growth with many offices often have services in place or increased latent capacity needed in many places. In addition, if you are not reconcile the invoices related with the data, almost always in excess.
6. There are many companies that focus on the identification and recovery of costs for your business. One advantage is that these companies pay a tax or is based on the results of the dollar recovered or saved. His approach contributes to a society in three ways: the analysis of previous payments and recover overpayments. This may extend to one year or more of overpayments and may be a physical quantity in terms of their environment and society historical review of contracts and negotiation with suppliers to determine the appropriate use of contracts, assessment of present telecommunications needs and recommend solutions at low cost.

Heating and Air Conditioning

1. In many parts of the world and in Australia, especially during the summer the temperature reaches the higher limits. May be a good idea at this time to harvest solar energy and use it for your heating and cooling needs. Government also offers many incentives and rebates in transition towards the use of solar energy.
2. During the hot season can be a good idea to change your work schedule for employees of certain sites and factory area where the temperature rises to levels well levels can start early and before the temperature rises. Moreover great work can take place overnight.
3. Install fans ceiling, if possible. This was the method used before entering the air conditioning. This is a great way to save on heating and cooling costs.
4. Open the windows. Unfortunately, many office buildings, you can not open the windows because it was closed. These buildings rely on electricity to maintain temperature inside and lighting needs. Organize Open windows not only reduce heating costs, but also of enlightenment.
5. If your heating system works by gas, you may be able to talk to your service provider and request a stay during the warmer months. This will help save on fixed costs. If this is not possible, you may be able to sign a salary package that is used.

Electricity

1. effective use bulbs. Even the government provides many incentives and rebates reducing overall costs of these energy saving bulbs.
2. Install systems and methods where the bulbs in some areas are off automatically. I've seen in some areas where security lighting or lamps are lit at night and forgot to be in the morning. Having a system that shuts off the power of these lights or safety during the day and makes the system automatically saves considerably on the electricity that lights consume an enormous amount of electricity.
3. Implementation and training its staff to stop and pass all electrical equipment and laptop computers before leaving office at the end of the workday. Many people do not turn off electrical appliances and laptops when not in use. The main reason for this may be impractical for them, but not now. Routine checks should be done to ensure that this policy is followed. This not only electricity, but also reduces the risk of electrical fires when staff is not available for treatment.
4. Application and train their staff to Use electricity only when absolutely necessary. Many offices can use natural light during certain seasons and times of day. This also applies when you open the window to regulate its internal environment and temperature.

Water

1. In some areas of work employees have a shower before work or after work completion. Where showers are provided for use reduction shower kits. Again the rain of these kits are provided by reducing the government and if there are not many incentives are available for use.
2. Demand for and educate their used to limit shower time.
3. If your toilet and has two convenient buttons for download through the download and complete the change to install. This will save significant water quantities during the year or in the long term.
4. men's toilets should be equipped with proper urinals. This prevents the water will be thrown into the bathrooms and toilets.
5. Wherever possible the use of water in cubic economy urinals. This is a new invention, if you do not uses water as the buckets are capable of purifying the environment and urine using chemical odors and bacteria killing.
6. The use of automatic shutoff after breaking a limited amount of water. It's a good idea if you have people to wash their hands in public restrooms. If you need more water all you want is to press a button. The higher use of excess water and drain.
7. If possible, use hand sanitizers without water.
8. Fix leaky faucets and toilets.
9. mulching and other water systems off turf systems for offices, such as drip and providing additional nuances to reduce evaporation.
10. The reducing the run time and the number of days that you do every week.
11. If your company uses water-filled tanks in blankets to use to open provide additional shade to reduce evaporation. Some companies have buildings pools in recreational activities require the same treatment.
12. Learn on rainwater and its storage in large tanks. You can use this and save a ridiculously high amount of money spent in the water.

Entertainment

1. Failure to provide free tickets and corporate boxes of many sporting events or other functions and activities.
2. When members of the high levels of food and entertainment allowances set daily limits.
3. Although the staff may have under food and entertainment allowances have a clear policy on how money can be spent and for what purposes can be passed.
4. Demand and educate staff not to food for delivery or room service.
5. The company must have a system in which the agent uses the first personal credit card for food and entertainment will be reimbursed by the company in real bills. If the agent is unable to provide the appropriate documents to support and bills or spent aspects which is not allowed by company policy that payment will be withheld or paid net.
6. Stop buying newspapers or simplify the purchase, magazines, periodicals and books for the management and staff to browse and enjoy during office hours.
7. Do not order fresh flowers for all managers office. You can use fresh flowers in the reception or in the main lobby area and better still if you can use natural-looking artificial flowers and floral arrangements that are kept clean and free of dust.
8. If the company offers annual trips to all staff, should be provided on the basis of cost reductions or profit improvements for the year. For example, you may be able to tell his staff that if some of the costs are reduced by 20%, which would be rewarded for this business trip in particular. If this is not the case you do not spend that money. However, if staff are able to reduce costs as requested, you win anyway
9. Some companies have the habit of taking their key management in exotic locations in remote areas for a few days to reflect and develop business strategies. Although I do not condemn this great idea may be better to reduce costs by having fewer days with a tight schedule and fewer trips to do.

Purchase asset and its use

1. In many departments to buy new furniture and equipment in case of need or if within a limited budget, without thinking. Before decide to buy new items to consider carefully the furniture and equipment that may be in your storage space. This is possible where facilities Many organizations Today closedown and empty of furniture and equipment storage facilities. To do this effectively, but may need support from your personal account must keep a record of all fixed assets and have full control of their movement.
2. Before buying assets, may be a good idea to ask other departments or other strategic units such business if they can buy assets and reduce costs, or perhaps even share. This will not only save money for your department, but also to help Ministry selling or sharing service to reduce their own costs.
3. If you are a small business startup, you may be able to buy most of their assets the closedown garage sale or auction. Even if you have to spend a little more about the restoration and clean you would be able to save a lot of them.
4. Another option that companies now consider buying online auctions like eBay.com Stores and overstock.com

 

Food and Beverage

1. Reduce the variety of coffees, tea and milk purchased for personal use. Many companies have used to buy different types and brands of coffee, exotic and different blends of tea and milk to satisfy the whims of each and every member of staff. When this the company will incur additional costs on the purchase of small quantities of a wide variety of items. You may be able to ask for suggestions from staff before making the transition. reduction of the variety in all professional levels.
2. Having always limited to individual orders. Do not buy in bulk or wholesale. Buy only what is needed for perhaps one or two weeks. This will not only reduce theft, but the deterioration is very possible that certain foods and drinks have expiration dates.
3. Remove some of their food and drink lists as free cookies, fruit, soft drinks and refreshments for your staff.
4. Install a water purification system for drinking water instead of ordering bottled water. Keep cleaning system in good condition.
5. If your company has a tradition of offering free breakfast on certain days or barbecue, is a good idea to limit the number of days it takes a month. They also have a limit on how much to spend on these occasions.

Automobiles and related costs

1. Ask your staff to always consider this trip really necessary? "When ask this question, may be able to consider other options such as shipping the product or packaging by a messenger, delivering the right place on your way home, etc.
2. Request staff to work together to consolidate trips or reduce additional trips made during the day. I saw people from different departments of travel to a particular site, at the same time in different vehicles. Worst of all, you will see that each department has its own car for these trips. Not just see what happens between departments, but also will realize this in the staff working in a particular department. The staff can go to a particular place, but have no intention or provide moments together in order to be able to do so by sharing a journey. For example, to a particular official may leave at a customer location, at eight hours and another member to leave 10 minutes later to a place in the same way. Of course, I understand that this is not possible all the time. But what is important to note is that currently no There is no active method of planning and organization of visits to places of work.
3. Always check tire pressure for your vehicle. Verification candles. A new use or the oil quality vehicles. All these measures will reduce maintenance costs and operating expenses.
4. Consider the possibility of keeping a journal and track how often and how much you drive each vehicle industry. In this way, you will be able to negotiate reduced insurance.
5. Less unit also saves the cost of maintenance, tires, supplies and fuel.
6. Request Educate employees and change their driving style at speeds suitable for less aggressive driving. In this case you should save on vehicle maintenance, supplies and fuel.
7. Personal travel long distances that must take advanced classes or driving. Accidents happen that can cost a lot to the company and personal life. Putting limits on the amount of driving hours permitted for a period of 24 hours.

Staff costs "Learn more at no extra cost

1. The productivity of factors, obviously, a way any manager can accomplish more with existing resources to improve productivity of these resources. Improving staff productivity is an ongoing effort and it is important for the employee, your company, and yourself as a manager.
2. Train and develop their employees with opportunities to target specific training to each employee to help you do more. Training can be internal programs cost at least for anything other than the time of one of its executives. Or you can use programs from external providers who can teach specific skills of employees enhancing its production capacity.
3. The coach and the approach efforts "Too often we allow our employees to" find their own way. "Be more active in the delineation of staff responsibilities, focusing their efforts on important tasks, and more coaches Productivity is a good thing. Expect higher productivity and often succeed.
4. Our employees want to give them tools to be productive and quality of product results. Invest in your employees, giving them the tools that increase productivity.
5. improving the quality of the program, often incorporate employee productivity is hampered by the poor quality of the provision of their efforts. More than not, they can not see problem is "you can not see the forest for the trees" problem. For example, if your programming staff to correct many problems that are discovered after software improvements are put into production, there is both a customer service problem and a problem of productivity. Every Once you create a program to improve the quality, I found resistance from people my superiors. The following figures show the before and after the program, and who really believes that improving the production team.
6. Provide additional incentives for a more in some situations you have a lot of delay, the need to reduce the backlog, but do not want hire more people. To address the problem, the staff offer incentives to work on additional projects "in his own time", which means after hours normal. This type of program can be very effective, but must be careful to avoid giving the impression that pays for overtime. overtime hours charged for non-professionals. Also just want to authorize the additional work those who make a decent job, in other words, how to qualify for the incentive to work is to do your normal work too. Use this program as a step by step short, three to five months, compared to what could become a regular schedule of work.
7. The factor of perception – Improve your employee productivity can actually be achieved by changing the perception of team productivity. I am not advocating any type of scam, but there are things you can do for the team seem to be more productive.
8. Organize Customer Service-Creating a structure and implement processes that help employees to quantify the problems, implement changes in an orderly manner, an escalation of the right questions, and followed consistently. Improving customer service automatically makes your computer appears to be more productive.
9. Manage customer expectations of their ability, "If your computer is too compromised the capacity of what they can offer, the natural conclusion will be that they are not getting the job done. Manage expectations customers the ability to actual delivery to your computer and it seems the team is more productive. We should be managing this way anyway, but it's easy to get too many compromises.
10. Filter the delay of your department, consider requests from its stakeholders department. Often, requests are made for items that are unnecessary or that do not provide the real value of the company. Reduce the backlog and establishing more stringent approval requirements for new applications may create a perception of a better response.
11. More communicate, communicate the status of outstanding issues more than they have been. Nothing makes a customer feel more frustrated than not knowing the status of a matter of support or pending request. Keep your customers and users "light" creates a sense of being more productive and improve customer service.
12. More light, his personal trainer to take action support additional interest groups. little extras go a long way towards improving the service and satisfaction creates a picture of the responsiveness and productivity.
13. Send your achievements Team You might be surprised how much we all forget what we do every month. It is very easy to get caught in day to day issues and problems that we forget to think about things that have been made in the past. Start tracking the achievements of his team and the outstanding post of the month. If we forget what to do, I can ensure that customers do not know everything we do. Sharing this knowledge with them, and it is possible that customers are really stakeholders and their views of how you manage your department or business unit increases.
14. Before you start trying to improve staff productivity, conduct an assessment to determine how they are already in production. If possible, establish a baseline measurement and improvement and to implement specific actions that either improve the real productivity of your equipment or the perception of their productivity. The capture of actual data in key areas will help to support what is really happening.

 

 

Conclusion

 

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As mentioned every idea has the potential to increase its net profit margin in points% many. Research shows increase in profits by 4% -56% and reduce costs 18% -37% in two years. In general, a reduction 5% of the cost of performance is sufficient for most companies with losses.

For maximum benefit and ensure that measures taken to improve the performance of its line of results, need for a structured methodology or process permanently as the five-step process suggested in href = "http://www.profitmaps.com.au/"> www.profitmaps.com.au.

About the Author

Skanda Kumarasingam was senior manager and professional primarily in general management and management accounting roles either with profit centre responsibility or in supporting senior managers with profit responsibilities. He has held management roles in KPMG (Audit and Consulting), Coke (Regional Internal Auditor and Leader- Financial Impact Teams in the Asian Region), PepsiCo, Marks and Spenser (UK) , Gap(Singapore), Next (Singapore) and Ernst and Young (Business Training Centre- Kingdom of Bahrain). Skanda has over 15 years experience in senior management and professional business training roles.Go to www.profitmaps.com.au to see more powerful ideas such as these.

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