There are probably dozens of ways to save money on your business. I thought that there were few here.
It's tough. :
Save money, money, business, how to save money
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Why look at how to save money in your business? I do not think that it is a business, but it has been the net profit so far. Cut expenses and savings usually go straight to the line below. For example, learn the easy way to spend $ 25 or less on electricity each month, and you have a profit of more than $ 3,000 over the next decade. Here is the cost, then, cut some random and helpful ideas.
<b> Ask the vendor how to save money </ b>
Often you can save the question. For example, if there is a way to reduce costs, ask your supplier. Maybe you and him, for example, would like to deliver more. I do not know until I ask.
<b> Join an association </ b>
Most industry and service professionals have a professional union. Tsutsu Tsutsu Tsutsu Tsukitsu. Decent reduction insurance rate discount "legal expenses and other services.
<b> Educate Customers </ b>
I want to be educated by a large number of online services I use. A good brief description of how to use their products will protect me from calling them frequently and emailing them. It also saves them the cost of handling their calls and emails. If your customers come back with questions too much time, you probably aren't sufficiently educated them well at the point of sale.
<b> Piggyback your ad </ b>
You will be billed for other emails, including advertising, by sending money. Repeat the goods in the coupon.
<b> Trade ads </ b>
If you mail the ad to thousands, you probably know the supplement but non-competitive business that does the same. Put his ads on your shipment and agree to have yours at his. You can mail as many ads for half the postage and envelope costs this way.
<b> Save money for labor </ b>
While working at the restaurant, I tracked the number of customers in relation to employee scheduling. At many of these times the employee's duty is too many at times. Changing the schedule meant saving about $ 15,000 a year on better customer service and labor.
<b> Reduce your lawyer's time </ b>
If you need to hire a lawyer, ask if there is something you can prepare to reduce the time you are billed. Having your lawyer has a point make $ 100 phone call that you can make in five minutes. Wait to discuss several issues at once with your lawyer.
A last tip: look back at all the expenses you had at least once a year, and see if any of them have a way to save money this year
How To Save Millions By Just Reducing Cost Of Expense
Despite the widespread agreement that effective expense management is essential to business success, there is still an aspect of expense management that tends to be badly treated, and it costs millions of businesses each year! Ironically, it is a cost that can be reduced significantly overnight (all excluded).
I'm talking about the processing costs associated with purchasing. They are called "transaction processing costs". ..
It's tough. :
Expense management solution
Article body:
Despite the widespread agreement that effective expense management is essential to business success, there is still an aspect of expense management that tends to be badly treated, and it costs millions of businesses each year! Ironically, it is a cost that can be reduced significantly overnight (all excluded).
I'm talking about the processing costs associated with purchasing. They are not the cost of the transaction itself, but the cost of the purchase itself.
Dollar value of transaction processing cost
End-to-end costs of mass processing, low-value purchases (such as travel, entertainment, contract labor rental, training, employee billing, stationery, out) can be exorbitant. In fact, in many cases, it is higher than the purchase cost itself (even with efficiency delivered by the ERP application). The reason for this is that the total transaction costs include many related activities such as processing, management and banking fees. In a typical business, 90% of purchases are low; they represent less than 10% of the total company purchase costs. But in reality, these low value purchases outweigh large purchases, since the cost of each transaction is many the same ordinary despite the purchase price, so the available company resources (eg, employee time, etc.) Most of the effort, and money) make up a relatively small percentage of the overall company spending, low value, high
How to reduce transaction processing costs
An increasing number of businesses have taken steps to address this issue and enjoyed considerable operational savings and direct improvements. They have significantly improved their operational efficiency and often reduced transaction processing costs by more than 90% per transaction. This is the process of most companies trading when they consider significant cost savings.
So how do they do that? What are the opportunities for those companies that still use the traditional way?
Today, many businesses have found simple, valid and valid answers to this question. They use a simple solution that combines the use of expense management software with traditional credit cards.
How does this actually work?
The process of company procurement of credit cards for companies using goods-services. Electronic transactions are sent to individual PDAs and PCs (via any network or internet connection). The employee clicks on the Confirm Transaction or Charge button and posts the code transaction to account. The card is for the whole month, for the minute it was purchased using all of the credit card providers to pay. All in real time, including all controls, business rules, and management notifications to ensure that the purchase is approved and complies with corporate policy.
Result: You can integrate thousands of payments into a single transaction. With support systems, you can analyze costs and implement controls in real time.
Case Study
Companies process approximately 50,000 payment transactions annually, 80% of which (40,000) are low value / high volume non-strategic costs. By implementing a professional master expense management system, they can save $ 56 per transaction, $ 2.24m per year (40,000 x $ 56.00 = $ 2.24 Indeed, this saves both "hard" and "soft" However, the business case is genuine, and within half a year we deliver results in all industrial areas, including R0I.
Conclusion
For years now, the company has been using credit cards as corporate payment tools for travel and entertainment costs. An extension of the concept to a common business sourcing, sophisticated expense management software system that provides immediateness of release and control of new products from card issuers Today's concept is the key besides the company's improvement project The portfolio is overpriced at all non-strategic lows.
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