Here a few simple ways to save money and controlling costs and thus generate cash.
No brainer (what you already should do)
1. Delay things that are not immediately necessary.
2. Order what you actually need.
3. Send of a consultant who has no direct value.
4. Avoid overtime (only after formal approval).
5. Stop unnecessary subscriptions.
6. Use energy saving light bulbs.
Brainers (What you could do)
1. Take advantage of the current situation in the market and re-trade conditions and prices with suppliers
2. Extend the terms of payment of suppliers.
3. Take advantage of discount opportunities as they arise.
4. Avoid business trips where possible, use conference calls or video conferencing.
5. Stop with luxurious internal newsletters / magazines (Retain only those who really add value).
6. Rent instead of buy in case of a temporary situation.
7. Buy used products when possible (bankruptcies).
8. Fuel:
a. Tank at petrol stations not located along a highway.
b. Tank at unmanned petrol stations.
9. Print:
a. Print only that what is really needed.
b. When you print, then print duplex.
c. Print in color only when strictly necessary.
10. Telephony:
a. Call with fixed line if available.
b. Set abbreviated numbers.
11. Use energy saving light bulbs
Manage your costs structural !
1. Provide a functional specification of the requirements (avoid over specification allowing you to overpay).
2. Check the agreed conditions (benchmark) by professionals so you are assured of market-based arrangements.
3. Ensure that contracts are adequately managed (create insight into the status of the agreements and make sure that what is agreed is also supplied).
4. Avoid "maverick buying" by making sure that the contracts will also be properly implemented.
5. Care by setting up an appropriate management organization and the subsequent processes for understanding and grip on the internal demand (what the organization wants and what the organization really needs).
6. Make people aware of their behavior and the costs they cause.
Think of things like telephones, company cars, business, expenses, etc.
Think of things like telephones, company cars, business, expenses, etc.
7. Check invoices for accuracy (they tallies with the agreements).
Finally: Create awareness at the budget keepers about the opportunities for cost savings by sending them e-mails about these tips and asking them for feedback, what they have done and what not, why not and when then....?