Money Saving
Ideas for Your Business
By Nathaniel Davis
Paper Reduction
Paperwork can quickly pile up and add
unnecessary lead times in variety of areas. As you trace the paper trail, ask
everyone who handles or creates a paper form the following questions:
·
What
information do you add to the paperwork and why is it needed?
·
What
information do you take from the paperwork and why do you need it?
·
Why is
this paperwork important for you to perform your job?
If anybody answers, "Because it's always been done that
way." it is almost certain that this area of the process is a prime
candidate for reducing paperwork and streamlining the process. Also, if each
piece of information cannot be justified, it should be eliminated from the form
to reduce the amount of work necessary to process the paperwork.
Filing and Storage
File cabinets and storage boxes take up valuable office space.
Use a document management system to archive paperwork for long term storage and
retrieval to free-up the office space that is being occupied by paper storage.
Saving money on cell phone business usage can be quick and easy.
Competition in the general cell phone market is fierce. This is even more so
for business cell phone customers. You can take advantage of the current
marketplace and save money on cell phone usage in your business.
Empower Employees
Employees
on the frontline and in the trenches know their jobs better than anyone else.
The best employees have been with the company a long time and know the
processes and decisions inside out. Look for areas where supervisors and
managers are involved in day-to-day operations of the business and these will
be the most common areas that can benefit from empowering employees.
B2B with Customers, Suppliers and Partners
Business
to business
(B2B)
communications (also called e-commerce) goes way beyond just having a
storefront on your web page. Having the ability to share electronic information
automatically will determine which businesses thrive and which ones struggle
keep afloat. Benefits include:
·
Better
customer service
·
Increased
sales
·
Reduced
inventory
·
Capital
savings
·
Improved
cash flow
·
Reduced
lead times
Consolidate Software
Do you have one piece of software for order
entry? Another for accounting? Another for inventory control? Do you employ
somebody to key the data from one system into another system? A "yes"
answer to any of these questions indicates that you could need an integrated
software platform. There are a variety of packages available today that can
meet the needs of small companies as well as the large ones.
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