The Key to Maximizing Operating Income is a Strategic Approach
- Vendor Contract Review: Are service contracts being reviewed in a timely and effective manner? Is competitive bidding part of the process? Is your business getting the best value from your vendors?
- Comprehensive Billing Analysis: What exactly are you paying for? Are you sufficiently leveraging volume pricing? Are there alternatives to business as usual?
- Operational Efficiency Assessment: Are you maximizing space efficiency? Are there operational improvements or technology enhancements that could reduce costs and improve productivity?
What if you could increase profits by reducing next month’s operating expenses?
Companies tend to underestimate the value of maximizing operating income. Hidden costs associated with operations often go unnoticed. reDefining Efficiency identifies cost-saving opportunities by focusing on strategies to maximize operating income. We start with a comprehensive analysis of your vendors to determine if your company is getting the most value out of its service providers. We then assess the day-to-day operational efficiency of the organization, seeing where improvements can be made to reduce costs.
Any strategic approach to maximizing operating income must take into consideration the two largest costs of doing business: employees and space. Standardizing systems, streamlining operations, and integrating technology can significantly impact employee performance. Maximizing vendor value, leveraging volume pricing, and implementing space efficiency can substantially reduce operating costs. Opportunities to maximize operating income are identified by focusing on the following:
- Billing/procurement analysis
- Vendor management
- Operational efficiency assessment
- Cost-effective technology implementation
- Strategic space planning
- Employee engagement
A Holistic Approach to Operational Efficiency
Using a holistic approach to operational efficiency provides greater opportunities to reduce costs while improving productivity. Yet so many companies remain unaware of these hidden opportunities for the following reasons:
- Companies fail to effectively leverage volume pricing to their advantage
- Businesses assume they are getting sufficient value from their vendors when in many instances, they are not
- Hidden fees and expenses are routinely paid for resulting in unecessary costs on profit and loss statements
- Organizations seldom have the expertise or bandwidth to identify and implement cost-saving measures
- Improvements in operational efficiency are often overlooked due to how business is routinely done
- Internal staff have insufficient motivation to do the work necessary to produce quantifiable results
- Businesses rarely have standardized business processes in place
- Change is frequently met with resistance in the workplace
reDefining Efficiency has the experience to differentiate between real and perceived value and can leverage volume pricing to get the most out of your vendors. We perform a thorough vetting process that eliminates unnecessary costs and provides quantifiable alternatives. Day-to-day operations can be analyzed to further reduce costs and improve productivity. Lastly, the work space itself is evaluated to glean any additional cost-saving opportunities that may exist. By taking a holistic approach to implementing proven strategies, reDefining Efficiency can maximize the operating income of your business, significantly impacting the bottom line.