As responsibility has increased, priorities have been shifted
That is why business costs are now more important than ever…
Let’s face it, the priorities of businesses have expanded. These days, it’s not just about the fundamentals of keeping business costs down and profits high. The range of issues faced are multiple and stretch far beyond the balance sheet.
According to PwC – “today’s leaders face a business environment that’s increasingly complicated to read and adapt to”. A businesses reputation and long-term outlook is much more difficult to manage than it used to be. Just this year, we’ve seen the likes of Volkswagen and Samsung – two giants in their respective industries – take huge hits to their reputation, not to mention their finances. Techradar estimates that Samsung will suffer losses of around $1billion from the widely publicised Galaxy Note 7 saga.
With increasing global uncertainty and ever conscious consumers, businesses face a monumental challenge – change or become obsolete.
Cut costs to grow
But with this challenge comes a golden opportunity. A chance to build resilience and grow our businesses, a chance to really stick it to the competition. And whether it’s through innovation, Corporate Responsibility programmes or marketing excellence, businesses need to respond and adapt.
But here’s the rub: it all costs money. And that’s why we need to continue to keep a close eye on our business’s vital signs. Budgeting and spend control is now more important than ever. To future proof our companies, we need to be smarter about our finances.
And that’s how we can help. We’ve identified that up to 80% of business costs are ‘indirect’. This means that they have no tangible impact on a business’s primary activity.
Our ‘Vantage’ solution is designed to flush out and consolidate those indirect costs. And as a result, we typically deliver savings of up to 40% for a wide range of businesses.
But don’t just take my word for it. Take a look at our success stories, outlining how we’ve cut costs for many leading UK businesses.