COST REDUCTION ACCELERATOR
In this time of shrinking credit, shrinking spending, and shrinking budgets, it’s prudent to take a look at discretionary spending, operating costs, and overhead. The goal for some companies is to be prepared when the economy turns around – ready to compete and grow, for others it’s survival, and still others it’s an opportunity to take advantage of bargain assets.
So what are the right costs to reduce, and by how much?
To make the best fact-based decisions around cost reduction (and cost avoidance, cost removal, and cost containment for that matter), you need to visualize how costs are interrelated with revenue, with cash, fixed assets, and all relevant and material value drivers in the business. And you need to be on the same sheet of paper with your entire senior leadership team: marketing, sales, finance, operations, HR, and IT.
In the Business Foundation Cost Reduction Accelerator, we hit the ground running by starting with the Periodic Table of Business® of key performance indicators and narrow it down to only those pertinent in your industry. We then organize the top cost drivers by business function and layer in the business. In a focused two-hour conversation with each of your senior business leaders we quickly reveal the value map specific to your business. In addition to the obvious areas of cost reduction, you will gain new insights into the impact of cost reduction and you will discover new insights around cost reduction.
This Cost Reduction Accelerator can be used to help your organization focus and align on the right costs to reduce in the business. We then work with your I.T. organization to help them align with what the business needs and to prioritize their project portfolio in line with the targets set by senior management.
Whether you need to validate your current approach, or need to get creative on cost reduction, the Business Foundation Cost Reduction Accelerator can help you visualize and articulate the right plan of action. You’ll literally have everyone working off the same sheet of paper to help survive this business climate and prepare for the next.