How to save money in your business?

Business and Management, Finance

How to save money easily!

The first is to differentiate the different areas where you can implement a savings plan. Energy, human resources, supplies, etc. All costs are likely to eliminate. In the following lines you can access a brief summary in which are some of the actions that can be undertaken to minimize the investment in those sections where it is not needed

Save Money

Credit: Google Image

  1. Office cost savings: From the software and licenses to consumables. It’s simple to save on office costs by following these guidelines:
    • Software & licenses: You should consider whether actually used, if still needed, if you think you will need to renew the subscription, or you might find a cheaper option. For example, many brands of antivirus protection packages offering applicable to multiple computers, so its price is reduced greatly, instead of buying three licenses of antivirus, spending would be reduced by one.
    • Consumables: Evaluate the work and expense of each printer (pages print cartridges or toners in color or black and white and assess options such as recycled paper and cartridges or limitation of impressions). For example, awareness template to ensure if necessary print all pages of a document before you do, or be satisfied with a small selection of the same.
  2. Energy savings: From buying new software to turn off the light when leaving a room, the energy saving is one of the most neglected when it comes to putting measures against waste in enterprises, to avoid it may be necessary:
    • Invest in technology: Sometimes it is worth spending money on buying a new computer or printer last model, which consume less energy and at the same time, use less time to perform the same functions.
    • Negotiating with suppliers: Find deals not conform are the keys to success in these savings.
    • Investigate saving systems applicable to the most commonly used resources, from the use of power strips to turn off computers at the end of the day, rather than leaving them on ‘stand by’, to incorporate off systems and automatic lights, for example.
  3. Saving representation expenses: Sometimes can be overridden and other only be possible to reduce them, but the savings is in your hand.
    • Relying on technology to do so: By replacing travel meetings meeting via Skype or Gmail+, etc.
    • Replace allowances for the payment of invoices after presenting the tickets.
  4. Savings in staff costs: No need to go through the job cuts but it can be interesting to consider some measures such as:
    • Outsourcing: Sometimes it is more economical mercantile linked to highly qualified and industry knowledge to keep them in continuous professional staff.
    • Control of activity than the control systems, which does not bring real data on employee productivity, track activity will allow closer to desired levels of productivity.
  5. Savings in staff and / or technology thanks to grants and specific bonuses:
    • Be informed about the public aids available, well depending on the type of company, or subject to certain class of contracts (or subject of such contracts) you will receive benefits or compensation to improve contracts or invest in technology, for example.
Written by Alex

Leave a Reply