Modern Australian
Men's Weekly

.

Simple ways to help your business cuts costs

  • Written by News Company



Every business wants to be more profitable. To return better results for its shareholders and to operate as a lean and mean money-making machine. But profitability is not always an easy goal to obtain, especially in these tough economic times. And while business growth can only really come from driving sales, profitability is something that can also be achieved by cutting costs. This is an area of the business that needs to be reviewed regularly. It is not about putting draconian measures into place about taking responsibility away from managers, it is simply about asking what can be cut or better managed. With that in mind, here are five areas that have the ability to make a big impact on the balance sheet.

Travel budgets

This is an area that often tends to spiral out of control. One flight soon becomes many and the allure of travel and face-to-face meetings gets over-stated. Modern technology means that it isn’t necessary to spend so much time travelling. Flights and time on the road also translate into dead or unproductive time, with the truth being that office-based meetings are the way to go. An easy way to make this happen is to find a company that offers video conference services Sydney, for example, has a couple of world-class providers. This is a modern and efficient process and while there may be some costs involved it is a whole lot better value than constantly sending you people traipsing all over the world in airplanes.

Insurance

You can almost always get a better price on your insurance. This is a very competitive space with lots of companies vying for your business. So, go out and get some quotes and then try and get one company to beat the other. Do what you can to drive the premium price down. If you don’t claim often (or better yet, at all) then you will be sought after as a client and you may well find the companies falling over themselves to do business with you. This is probably not going to be a huge saving, but it all adds up in the end.

Rental

Many companies don’t like the idea of purchasing due to the capital outlay involved and the risk of long-term liability. But purchasing premises can be a real saviour, especially if you are able to pay it off and are suddenly operating rent or bond free. If cash-flow is tight this is not something to explore (unless the mortgage repayments are a lot less than the rental payments), but if you get paid for a big project or experience a sudden windfall, then you should definitely look at purchasing.

Work from home days

Having people in the office is a costly affair. They use your water and electricity and toilet paper. They consume your tea and coffee and milk. It might sound like trivial matters, but it all adds up quickly. So, while having an office and getting people to come in and work from the business premises is very important, there is a lot to be said for work-from-home days as well. The savings that can be made from a single day a week of remote working can be quite significant – especially if you have a large staff compliment.

Business

Building a Governance Model for Headless Content Management at Scale

Image by pch.vector on Freepik There's never been a better time to implement a headless content management system (CMS) to gain the flexibility and scalability necessary for developing digital experiences...

Understanding Trade Insurance: Essential Protection for Businesses

Image by Drazen Zigic on Freepik In the current economic environment, trade insurance is an important element for companies trading both locally and internationally. This is a type of insurance that reduces...

Navigating the Digital Landscape: Managed IT Solutions and IT Services in Townsville

As technology advances at an unprecedented pace, companies must adapt to embrace the transformation ahead. With an evolving technology landscape, managing technology effectively is a strategic priority for every North...

Maximising Operational Efficiency: Electric Winch Hire Australia and Hydraulic Power Pack Hire Solutions

Image by jcomp on Freepik From urban construction sites and remote mining operations to coastal maritime facilities, specialised equipment solutions are integral across Australia's varying industrial landscape to deliver project success...

Designing Secure Content APIs in Headless CMS Environments

APIs are what enable content to be delivered from a headless CMS to anywhere digital content can exist from websites and apps to IoT and more. Yet while the headless...

The Role of Mining Equipment Suppliers in the Industry

Mining is one of the most essential industries, driving the global economy by providing raw materials for manufacturing, energy production, and infrastructure development. Behind every successful mining operation lies an...

Australian Classic Literature Enjoys Resurgence

Welcome back to the good old days of storytelling! As the modern world becomes increasingly more demanding, returning to childhood favourites offers...

Building a Governance Model for Headless Content Management at Scale

Image by pch.vector on Freepik There's never been a better time to implement a headless content management system (CMS) to gain the flexibility and ...

Understanding Trade Insurance: Essential Protection for Businesses

Image by Drazen Zigic on Freepik In the current economic environment, trade insurance is an important element for companies trading both locally an...

Choosing the Right Timber for External Cladding

Timber cladding is one of those finishes that pulls double duty: it makes a building look warm and welcoming, and it quietly shields the frame from ...

Top Services Offered by Diesel Mechanics in Brisbane

Keeping a diesel vehicle running at its best takes more than the occasional oil change. When you invest in regular specialist care, you protect the ...

Top 5 Benefits of Hiring Professional House Removalists

Moving day should feel like the start of a new adventure, not the end of your patience. Yet once the settlement papers are signed and the champagne ...

Navigating the Digital Landscape: Managed IT Solutions and IT Services in Townsville

As technology advances at an unprecedented pace, companies must adapt to embrace the transformation ahead. With an evolving technology landscape, mana...

Types of Catering You Should Consider for Your Next Event

Choosing the right type of catering service can elevate your event from ordinary to unforgettable. Whether it’s an elegant wedding, corporate func...

Understanding the Benefits of Split System Installation for Your Home

Climate control is essential to maintaining comfort in your home, especially during the extreme temperatures that many regions face. Whether you’r...

Best Aluminium Window Sliding Designs for Natural Light and Airflow

Bringing natural light and airflow into a space is one of the most efficient ways to create a healthy and comfortable home. In Sydney and across Aus...

Maximising Operational Efficiency: Electric Winch Hire Australia and Hydraulic Power Pack Hire Solutions

Image by jcomp on Freepik From urban construction sites and remote mining operations to coastal maritime facilities, specialised equipment solutio...

Navigating the System: Your Guide to Support Finding Work with a Disability Around Melbourne

Image by freepik Finding the right job can be a challenge for anyone, but it can feel particularly daunting when you're also navigating life with a ...

Say Goodbye to Draughts and Hello to Savings: Your Guide to Perth Window Replacement

Image by prostooleh on Freepik Are your windows looking worse for wear? Are you paying a hefty power bill due to sneaky draughts and poor insulation...

How to Choose the Right Horse Trailer for Your Riding Needs

Many horse owners travel long distances for riding lessons, competitions, or to move horses between properties. Having a safe and reliable trailer i...

Sydney Turf Installer for Instant Green Lawns and Long-Term Performance

Having a green lawn at home makes everything look better. Whether it’s the front yard, backyard, or a small patch beside the driveway, people in S...

Designing Better Living Spaces: Why New Kitchens in the Blue Mountains Are in High Demand

The Blue Mountains region is seeing a steady rise in home upgrades. According to recent housing data, kitchen renovations remain one of the most req...

The Role of Packaging Manufacturers in Reducing Supply Chain Costs

In today’s fast-paced logistics and distribution landscape, businesses are under constant pressure to optimise operations and reduce expenses. One...

Customising Roller Shutters for Warehouses, Factories, and Logistics Hubs

In today’s fast-paced industrial and commercial environments, security, functionality, and efficiency are paramount. Whether you manage a busy log...