When times are good, it is important to cut costs.
When times are bad, it is imperative!
Today we are in a ‘when times are bad’ economy. Most companies will be looking at ways to cut costs without spending any money. However, sometimes you can spend a little to save a lot.
A good place to look for cost cutting options - your business processes.
We see companies as a ‘collection’ of processes. Whether you are producing goods or services, there are processes in place to take the order, provide the goods or service and collect the money. Ingenuus can help you reduce costs in 3 ways.
Immediate Savings [hard costs]
Going paperless saves printing costs, reduces storage costs, reduces time required to find information and makes collaboration easy.
Removing the non-value added tasks within your processes shortens cycle times and allows you to perform more work with fewer people.
Alternative Savings [soft costs or maybe hard costs]
These are recovered opportunity costs – the hidden cost of doing business. A down economy necessitates accomplishing more work with fewer people. Wasting time performing unnecessary activities and misdirecting resources can weigh your business down.
It is much easier to manage fixed costs than variable costs. Gaining control over your process cycle times can turn variable costs into fixed costs.
Visibility into your processes means not having to hire program managers.
Passing audits in hours versus days reduces costs and stress.
Increased Revenue [soft costs]
There are many steps that you could pursue that would improve customer satisfaction and loyalty. These steps could lead to increased revenue.
Click here to start saving today!