Cost Takeout
Cut Costs, Not Your Workforce.
Bringing your business costs down shouldn’t mean immediately resorting to cutting your workforce; rather, getting lean in other parts of your business, such as through third-party vendors, should be the priority. When it comes to cost takeout, every cost-cutting tactic should be strategic in its approach and methodical in its execution.
$1B+
in saving achieved with the help of Whitestone Group
Smart financials for a stable future.
Having an effective cost takeout strategy is important because it allows your company to demonstrate good financials while also enabling it to use those funds elsewhere, such as for important company projects. When you reduce or remove excess expenditures, it leaves your business open to opportunities.
Every company understands this important fact, but when companies devise their cost takeout strategy to tackle unnecessary costs, many traditional organizations simply cut resources or try to renegotiate incremental improvements in vendor prices. However, the WhiteStone Group employs many strategies to optimize spending, such as vendor consolidation, volume assessment, active contract management, small spend consolidation, audits, and maintenance cost reduction, to name a few. Ultimately, we work to define strategies that work and that leave your workforce intact.
Here’s how we work with you to cut unnecessary costs and boost your bottom line:
- First, we meet with you to review and understand your corporation’s business overall vision, goals and culture.
- We work to identify the opportunities by doing a detailed analysis on spend trends, contracts, invoices and upcoming projects.
- We then meet with the stakeholders to understand their budget plans.
- Next, we propose cost-saving strategies and tactics to be used by the team.
- We next establish performance management metrics and reporting.
- Finally, we move to execute those cost-saving strategies and monitor cost savings achievements.
Success
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