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How To Reduce Costs In Small Business

How To Reduce Costs In Small Business

It has become a challenge for every business to reduce the cost of their business without compromising the quality of services rendered to its customers. However, if you ask any entrepreneur, they all deep in their hearts have a longing wish to have reduced the working cost for their organisation.

The company which smartly combine technology and manpower, get enable in taking decision in adapting new improved methods to reduce the cost of business will definitely generate a win-win situation by decreasing the operational cost for their small businesses.

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Here are some tips which can help top management to reduce the cost of business:

Look for value for money while selected low cost software and apps

When you strive to control costs for a business, we should look for technology which should be reliable, reduce paper work, easy to understand and implement. We live in a world of technology and internet services. Many times It’s equally important for your business to be tech savvy. This will help you in knowing which gadget, tool or app is best for your organisation and improvise the performance of the firm as a whole. Better to operate through technology rather than file and paper work.

Sales management software like Salesbabu CRM, helps organisations to create automated application support which not only optimise the overall workflow for the firm but also help in reducing paper usage and overall cost of the investment in manual jobs. SalesBabu provides free 15 days demo version which can help organisations to understand and gets a hand-on for the software usage before actually shifting the whole organisation work model onto the software support system. This helps in reducing the cost of transition time for integrating with automated software support and also optimize the business processes with automated features.

Read More – Maximize your Organizational Output

Automation

In the current era of technology and smart software solutions, automating your business processes is the best way to organise and reduce your operation cost. SalesBabu sales management software automates the whole business process starting with integration with third party vendors for collecting various details on prospective clients and customers through various modes of communication. Every detail on customer and prospective leads are recorded in a cloud based common repository which can be accessed by different stakeholders from anywhere and at anytime. 

Automated Lead Management and Opportunity Tracking facilities in the software, provide standardised methods to nurture leads and convert them into successful sales for the organisation. With automation of every stage of the sales lifecycle, errors and repetitive works are considerably reduced, lowering the overall investment cost for the organisation.

SalesBabu automated sales force management application also allows sales agents to create and share quotation, sales order and other campaigns over their smart gadgets and phones which helps in reducing the cost of paper work and rework involved and relatively reduces the business investment cost for the organisation. 

Read More – Win more Customers with Lead Management Software

Optimal utilization of resources

Employees should be knowledgeable about the technology and method you select for your organisation work procedures. They should be trained and made responsible to best utilize resources made available to them, such as internet, phone, fax, Photostat, printing paper, cartridge, electricity, stationery etc. Though the cost per units turns out to be very less, but if the wastage is calculated on an annual basis then definitely the figures can make a difference in the cost and profit margins for any organisation.

Also, organisations should work towards maximizing the use of automated sales force management application which can reduce manual usage of tools and resources. It also creates an environment to use cloud based software for every employee in the organisation.

Read More – Tips to Reduce Cost in Small Business

 Audit your processes and mode of operation

Process auditing and reporting

It is possible that you can outsource some services rather than having in-house manpower. You can look for re-engineering some processes, where you see process are not delivering output as expected. Re-strategizing: look for quarter figures and prepare comparatives this will help in re-strategizing the departments or processes. SalesBabu CRM Software for Small Business provide one click MIS and Analytically Reports, which provide strategic data for quick and correct management decisions. Regular auditing with these reports and statistics help in understanding the pain areas of the firm and make futuristic plans for overall improvement of the business processes.

Read More – MIS: Now Get All Your Reports Just by a Single Click

Online options 

From your information e-bookings till your negotiations on teleconferencing. For every assignment there is an online option. Go online you will save a lot of travel expenses and your manpower requirements too can be curbed. You can ask your employees to work from home. Tons of office activities can be performed from remote locations just by being online. You can virtually connect to all your employees anytime and anywhere in the world.

SalesBabu sales management software provides facilities like Mobile sales app, which enables users to use internet facilities to stay connected for organisation work and at the same time support customers for round the clock customer care services and enquiry management support. Mobile sales app also enables agents to share quotation, sales orders and sales documents on-the-go to support efficient work life balance and perform with best of the quality of work.

Read More – Mobile Apps to Transform CRM: Know How

Make a budget and follow that

Yes, it is a lot easier to say than to practice but there are people who have made provisions for all kinds of contingencies in their budget, so that the budget can actually work as per the budget allocated and allotted to all the departments. Predictable budgets help utilizing funds more precisely.

Use online free tools

Many of the companies invest much on buying online outdated applications as they might not be trustworthy on the specific free services. For example, you are spending thousands on buying some of the office applications and software for the database entry, instead of this, you can just simply use google docs. Google docs are very easy to use and are free to use online. There is so much free software which will help your company and can save a lot of money. 

Reconsider maintenance

Regular maintenance and cleaning services lead to expensive bills. So, until that it’s very much necessary do not use them. For some instances, Instead of calling the cleaning group once a week, call them twice a month. You can also see that most of the work which they do can be done in half of the time. So this will significantly save you much of the money.

Save Electricity

Chopping down the costs of electricity is very simple. All you need to do is just apply some of the office policies and be very strict regarding those policies. Try to unplug the unused electronics in the office and switch off the lights when the rooms are not used. Using the sunlight in the rooms when it is possible will drive up your force of the work productivity and make them feel very much natural. Unplugging the electronics will also extend the lifetime of electronics and will reduce the chances of the breaking down of it, which will save maintenance costs.

Conclusion

So this is not rocket science, some simple steps and you can see the difference in the amount of profits. This can be utilized for your employee benefits and welfare. You can even ask your employees that all the money saved due to optimal utilization of resources and by adopting effective and cheap strategies that money can be given back to employees in the form of gifts or may be incentives.

Life is easy, it is up to us how to handle and channelize things around us, whether in organisations or in life.

SalesBabu CRM Software for Small Business solutions can help SMEs to save on their operational cost, increase the effectiveness of processes and achieve business objectives in a more organised and standardised manner.

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