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Where the benchmarking exercise has identified areas where a business is underperforming, we are often asked to take a closer look at one or more specific areas in the business to see if a particular cost can be reduced, or an item of income increased. When doing so, we are able to draw on our wealth of experience in working with businesses in the same sector, and the net effect will be an immediate and lasting improvement in business profitability.
One area we are regularly asked to look at is staff costs. In many businesses, the wage bill is the single largest expense, and a saving there will have lasting benefits to business profitability. This will involve a review of team structure, identifying any duplication of roles, and looking at ways in which technology could assist in reducing staff costs. For example, many businesses are presently going ‘paperlight’ which can significantly reduce time spent by staff in ‘shuffling paper’ - generating copies of everything, filing it appropriately and retrieving it when required.
If you are concerned about profitability, contact either Ian Condie or Pauline Scott to find out more about this service.
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