Top 5 Ways Expense Reduction Services Improve Your Company’s Profitability

  1. Reduces operating costs by revealing wasteful spending or overspending
  2. Improves financial efficiencies through more competitive pricing contracts, cost containment measures
  3. Streamlines workflow and boosts productivity
  4. Better inventory management and internal processes
  5. Provides objective, numbers-based insights with measurable benchmarks

How an Expense Reduction Analysis Paves the Way to Increased Profits for Your Company

You’re working hard to improve your company’s performance and stability. But are you bleeding potential profits through inefficiencies in your operation?

 

Cost containment and efficient operations are crucial to any firm’s or business owner’s long-term success. Even well-run companies have opportunities to trim costs, improve productivity, and purchase more efficiently; however, you might not see these opportunities when you’re caught in day-to-day operations.

 

Expense Reduction Analysis can be a valuable way to help your company get in the black and stay there, by revealing areas of waste and unrealized profits. This thorough and objective analysis uncovers and implements financial efficiencies, both internal and external, that you may have overlooked . . . an oversight you simply can’t afford in today’s competitive marketplace.

 

Using the most comprehensive benchmarking and analysis tools in the industry, we will conduct a thorough review of your company’s financial records including:

  • Profit & loss statements
  • Cash flow statements
  • Balance sheets
  • Vendor invoices
  • Ordering history

 

Depending on the results of this management tool, we can help you:

  • Negotiate better prices with current suppliers – our analysts look for the high-volume items and how they are ordered, and look for hidden costs and overspending; seek volume discounts or locked-in pricing where applicable.
  • Assist in identifying areas of cost savings and efficiencies – payroll, budgeting, purchasing, and inventory management are some of the key internal areas to evaluate.
  • Secure competitive proposals – we put key products out for multiple bids, shop for cost-savings opportunities among competing vendors.
  • Strategically source – you will improve profitability without compromising quality. Our financial team will systematically evaluate the products and services you purchase, your suppliers, and your expenses to achieve greater cost effectiveness.
  • Recommend updated office technology – newer equipment may streamline workflow, save time, or cost less to operate.

 

The result: save your company substantial dollars which go directly to your bottom line.

 

Even better, you only pay for this service if we are able to identify cost savings to your company and you accept our written recommendations. Our consultants work on a contingency basis that’s focused on finding areas of improvement, helping you implement positive changes, and manage expenses on an ongoing basis if needed.

 

We are confident that by utilizing these expense reduction services, you’ll achieve greater insights into your operation that improve financial efficiency and profitability. For more information about this financial management tool, contact your FocalPoint coach.