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Cost Management Strategies for Business

    • 2 posts
    November 29, 2011 7:57 AM EST

    I think anoter great option is to consider a call center. Even if you already have someone that handles your calls, think about what else they could do if they weren't trying to multi-task with a telephone in their hand too. Good quality call centers are hard to find, you'll want to look for something US based and be sure to ask about their training program for agents. You don't want just ANYONE taking your calls and should be sure the agents are trained up to high quality standards before they represent you.

     

    Also consider tracking your marketing, both online with free tools and offline (usually meaning phone calls). Call tracking can help you what ads are your most effective. At least half of your ads are failing, marketing traking with phone analytics helps you know which half, so you can then get rid of them!

     

    Just some additions!

    • 344 posts
    November 17, 2011 7:34 PM EST

    ·  Reduce Utility Costs

    ·         For a long-term cost management strategy, reduce the utility costs for your office or business facility. Cut electricity costs by putting timers on your lights, asking employees to turn off their computers at the end of the day and setting equipment on a power strip that you can turn off to prevent power leakage. Reduce water usage by installing low-flow faucets and toilets. Go paperless in the office to cut costs for paper, ink and printer maintenance. As an added benefit, these changes are environmentally friendly and can help the reputation of your company.

    Update Technology

    ·         With advances in technology, you can save on business costs. By installing a video conferencing and screen-sharing system, you can meet with clients on a regular basis and reduce travel costs. Replace your current phone system with a better Internet connection so you can install a voice-over IP system that uses the Internet connection and allows individual phone extensions without adding extra phone lines. You can also improve customer service and reduce the time your staff spends putting out fires by adding instant messaging services for quick communication and questions.

    Shop Smart

    ·         Manage your costs at work by changing the way you shop. Work with your office manager or the person in charge of ordering supplies to find ways to reduce costs on products you buy regularly or in large quantities. Choose off-brands for products that are not as important to save money over time, or switch to a supplier that can give you a better deal. When you are purchasing new equipment, shop around for the best deal and maintenance plan.

    Retain Employees

    ·         To keep a handle on the time and money that are required to seek out and train new employees and to avoid lost productivity when an employee leaves, focus on retention. Maintain open communication with your staff, provide cross-training, listen to their concerns and keep the workplace fun and friendly. By making an effort now to keep employees happy and challenged, you can extend the time they spend with your company.

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