Cost Reduction Services
What is Cost Reduction?
Cost Reduction is the process of analysing and removing unnecessary expenses from the business or project without having a negative impact on the quality of the end product. This type of strategic planning enables businesses to boost their profits and run more efficiently.
A lot of businesses spend most of their time focusing on sales to bring in the extra profits, some businesses may focus their saving strategy on the direct services, but do not realise that there can also be large savings in their indirect services.
Applying cost reductions strategies can be a time consuming task, a lot of businesses do not have the in-house capabilities, skills and resources to analyse this process effectively. This is where we come in. We provide free Cost Reduction Services to Small and Medium sized businesses covering the areas of Chesterfield, Sheffield, Nottingham and Derby.
How Do Our Cost Reduction Services Work?
We work closely with businesses to remove the hassle from the working day so that they can focus on growth.
Stage One – Consultancy Visit
This gives us a great opportunity to find what your business does, the structure and to understand your current needs. We will be able to identify whether we can help you reduce your costs on your indirect spends.
Stage two – Data Analysis
If you decide that you would like us to look into cost savings for you, we will start looking into your current spending trends. We will identify which areas of the indirect expenditure we should investigate first. Depending on the complexity of the cost reduction strategy within 21 working days we provide a full and detailed report. All we will need from you is a copy of recent invoices/bills/contracts and an authorisation letter to allow us to act on your behalf. We will then work in partnership with our approved suppliers, to find ways of reducing your current contracts and consumption costs.
Stage Three – The Report
Having analysed all the data from your business and our suppliers we will offer you a report of our findings and offer you our recommendations. It is at this point completely up to you whether you would like to take this any further. You could even choose to implement only part of our recommendations, this is for you to decide.
Stage Four – Implementation
We can implement each of the cost reduction services for you. Depending on your current contract end dates, this will have an impact on when some of your new contracts will begin. However, we will be able to get them all set up and ready for the change over date and make sure you do not miss any obligatory termination requirements.
Stage Five – Account Management (Optional) We can manage all your indirect contracts for you on an ongoing basis, keeping you informed of your contract end dates. Whether you are wanting to remain with the current suppliers or whether you would like us to re-analyse and send your new contracts out to tender; all the decisions are yours!
The categories to the right hand side will give you a deeper understanding on some of the Indirect services we manage. If you would like to find out more about our Cost Reduction Services, please contact us.