Just like we are told not to do our groceries when hungry, organisations should not delve into cost cutting when they need it.
That is the single most important thing to keep in mind with regards to strategic cost management.
The words “strategic” and “management” both are equally important, because that’s where the difference lies.
While random cost cutting may show a marked improvement in costs during the current time-frame, what it does is essentially strip away necessary, value-adding parts of the organisation that would allow it to grow in the future.
Let’s start a discussion and hear your thoughts on this topic.
While having no end can be off-putting, we look at the milestones we cross on the way
When managers were asked in a study conducted in 2013 were asked by Bain & Co. what they had done to cut costs – they mentioned these elements.
When the same managers were asked how they were planning on cutting costs in the future, they mentioned these elements.
With 18,000 completed projects in over 28 countries over the past 2 decades, we help clients spend intelligently. It is not only smart procurement and reducing waste. It is derived from a thorough understanding of the processes, and subsequent improvements in them. It is not a gimmick – it is sustainable.
Unlikely many cost management consulting firms, Expense Reduction Analysts understand that every client has different commercial concerns, corporate issues, priorities, desires and ambitions. We treat each client as an individual with a unique situation that is different from someone else’s.
