Cutting costs: maximizing results

Updated: Nov 16, 2019

At the outset let me thank all of you for finding time to go through my blog.. This being my first step with respect to bringing professionalism and better systems so that our costs will be optimum. Also we have to make sure we utilize our resources properly and to the maximum-best, I wish to introduce a method to begin with the most important element that s Time. Let's start understanding the prevailing systems that are basic at the same time come to know what exactly is happening at the ground level. As it is different for all organisations my suggestion would be to first evaluate the capabilities, learning needs, strengths, weaknesses,opportunities of course threats also of the people around you.

Let's go with some proven tools which helped in the past to evaluate and assess the reality. As a first step in this direction I would suggest that all in accounts department start noting their time they spend on a daily basis for the next couple of weeks. The very intention of doing this is to get to know what all are the reports generated by the accounts department as well as who all are using it, how it can be modified and made faster so that people involvement can be reduced. The more we depend on the systems and the basic data to generate any report it will be more convenient and error-free. let's try doing this.

Basically our goal is to make accounts department more efficient and Value Adding. Please find attached the time sheet format.

expected outcome: People would come with suggestions for efficiency, the processes would be documented, "If efficiency increases cost will reduce".

#costefficiency #returns

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