Every company has one thing in mind – the bottom line. Without profits there would be no business, so increasing the margins will always be a priority for any business owner. When it comes to greater profits, many people’s minds turn simply to growing sales revenue, but that doesn’t have to be the only way. As the old (and politically incorrect) saying goes, there’s more than one way to skin a cat!
Saving money in the workplace can be hugely effective too. Unless you regularly sit down and take a look at your list of expenditures it’s easy for wastage to creep in, and all of those little extra costs soon mount up. Thankfully, this is easy to turn around. Simply follow the steps outlined below and you’ll be well on your way to a more cost-effective and efficient workplace:
Unnecessary energy consumption can run into considerable figures if it isn’t kept in check. Worse still, the impact your company is having on the environment whenever you waste energy is further adding to what is now a global problem.
Simple things, like installing a timer for your heating, can save anywhere in the region of £350.00 per year. Similarly, turning off the lights at night and over the weekends can save another £125.00.
Appoint a member of staff as your energy coordinator and have them oversee these things for you. You’ll be amazed at the difference it can make.
Buy regularly used consumables in bulk
Supplying essentials such as printer paper, stationary and other miscellaneous items can cost you and your business a hefty chunk of change over the course of a year. Buying things as and when they are needed may seem prudent as each individual bill will be small, often even seemingly inconsequential.
However, there is a better way. If you have the space to hold bulk amounts of items that your business regularly gets through, the savings can be enormous. Try and anticipate what you’ll use over the course of a year and shop around for the best deals. Bulk buying can dramatically lower cost and it also saves on the man-hours needed to order and take delivery of the goods, too.
Use tech to bring down the bills
Incorporating technology into your daily routine can also help you to reduce costs. From small things such as buying a printer that can print on both sides of the page through to grander items like VoIP phone systems that use the Internet to make calls, all of these will save your company money.
It doesn’t stop at hardware either. Cascade HR software packages can lower paper usage and cut down on the amount of manual entries that your staff will have to make for things such as payroll and reporting.
Keeping on top of where money is being spent and making small changes accordingly can make a big difference, not only to your profit margin but also to the health of the planet. Take the time to give your company a once over and see where you can begin to start saving cash today.