One of the major trends last year, within procurement, was Key Performance Indicators (KPIs) and how the outcomes can be measured. If you are a business that offers services within procurement, the 4 main value-added areas your business has to be measured against include: Value-added KPIs #1...
Saving power can be one of the most basic and effective ways of improving your business' profitability. A few well-planned power saving changes can help reduce your energy bills, conserve energy as well as reduce carbon pollution. When you set these measures in place, you...
Cutting various costs can be an easy and quick way to up the profitability of your business. When you introduce cost-reduction planning and measures, it helps bring in savings immediately and you are able to maintain your profitability in the long term.However, it's crucial that...
Bringing new employees on board is an expensive and time-consuming activity and if you happen to make a bad hire, these costs escalate. It's not uncommon for small businesses to handle their own recruitment, but you should consider hiring a recruitment agency for the job.These...
When small businesses want to cut costs, the standard strategy is to lay-off staff. This is because about 70% of business costs are related to staffing and it's but natural that companies will keep this strategy at the top of their list when they are...
Traditional IT solutions are passé; now is the time for small businesses to embrace cloud computing. It's fast becoming the standard method of storing information and there are a number of benefits to using cloud computing: #1 It helps you save money Conventionally, small businesses spend money...
As a business that is conscious about maintaining its profitability, you make redundancies in some aspects of your business and cut activities and superfluous expenditure within your organisation. However, in addition to all these conventional responses, it is now also widely accepted that improving procurement...
As a small business owner, you continually look for ways to reduce spend and save money within your company. But it's never a good idea to cut costs on packaging quality and integrity. If your products arrive at the customer's location in a broken or...
Every small business owner looks for ways to reduce costs in their company. Taking a detailed look at the costs can spotlight a number of areas where small companies can save significant amounts of money annually with very little effort: How to save money in your...
Every business big and small can benefit from saving energy. Whenever you save energy, you automatically save money for your business. Energy costs significantly contribute to your company's bottom line, so saving more energy adds to the profitability of your business.Certain efforts such as switching...
