Q&A
Ask and answer questions to make information more available to wider audiences.
Shelby Nichol
@nicholshelby 25, May 2023 12:00 AM
reduce expenses in a company
How do you reduce expenses in a company?
answers 3
Answer 1
Hadley Minett
@minetthadley 31, May 2023 01:09 PM
Lastly maximizing employees’ skills ensures they can perform a variety of duties which helps reduce the wage bill.
Answer 2
Hadley Minett
@minetthadley 31, May 2023 01:09 PM
The other measure involves lowering financial expenditures, for instance, through undertaking insurance cover with a cheap but effective insurer. Ensuring that depreciated assets can salvage at least some percentage of their value is also a key strategy.
Answer 3
Hadley Minett
@minetthadley 31, May 2023 01:09 PM
As a financial Controller, knowledge of the various cost-cutting techniques is necessary. The first one entails the re-evaluation of suppliers at commencing of the financial year. This provides an opportunity to pick out a pool of suppliers who offer good discounts, which in turn help reduce supply costs.