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How to Reduce Unnecessary Costs

http://www.square-9.com/ | For your business to continue to successfully flourish it is important to cut unnecessary costs. Take a look at four key areas in your business – location, document management, retention, and employee wellness – to see if there are adjustments to be made.

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How to Reduce Unnecessary Costs

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  1. How to Reduce Unnecessary Costs Keep Your Business Thriving By Reviewing And Revising 4 Key Areas

  2. One of the pillars of running a successful business is to consistently analyze areas to improve on. This includes cutting unnecessary costs associated with everyday processes. On the next few slides we’ll cover 4 key areas your business should put under the microscope: Location Document Management Retention Employee Wellness

  3. Location Consider the following questions: Are you fully utilizing your current office space? Is your current location a reasonable place for the amount of growth expected? Are you paying monthly for off-site storage?

  4. Take Action IF you are outgrowing your current location, consider allowing certain positions to work from home. Utilize video conference software and provide staff members with mobile access to company documents. IF you are paying for off-site storage, you are spending money for a unnecessary, additional location. Look around your current office for ways to make extra room, or consider implementing a paperless solution. IF you are planning on relocating, make sure there is ample free parking – parking structure costs add up. IF clients coming into your office isn’t essential to your business, consider a location that’s not prime real estate for foot traffic – this could help you negotiate a lower lease.

  5. Document Management Ask yourself these questions: Is your business still dependent on paper and printer ink? Are filing cabinets taking up valuable office space? Are all your critical files and documents easily retrievable and securely backed up?

  6. Take Action IF you are overwhelmed each month by how much you spend on ink cartridges and paper, document management software is vital for your business. IF you currently use physical filing systems for accounts payable, contract management, employee onboarding, etc., cloud-enabled software such as SmartSearch will streamline your business collaboration – making information immediately accessible while saving you a bundle. IF you rely on filing cabinets to protect your trade secrets, it’s time to make an affordable investment in secure, innovative software. With digital solutions, you can grow with your business, unlike the limited space of physical filing systems.

  7. Retention Reflect on the following questions: What are the main reasons former employees cite for leaving? What complaints do your current employees have? Do your employees feel knowledgeable and empowered?

  8. Take Action IF you have a high employee turnover rate, you may be paying hundreds, if not thousands, of dollars a year on recruiting new employees. Analyze why employees leave your business and work towards improving your internal operations. IF former employees cite a lack of support from management for why they left, re-evaluate your training and implement incentive programs. IF your team complains about certain members not pulling their weight, examine those employees’ output and quality of work, and decide if they bring value to the organization. If not, free up those monetary resources.

  9. Employee Wellness Think about these questions: Is there a popular “smoke break” culture at your business? Are there healthy lunch and snack options around? Are employees encouraged to take breaks and vacations?

  10. Take Action IF you have a lot of smokers at your business, implementing a tobacco-use cessation program may be a great option. Recent studies have estimated smokers can costs your business thousands of dollars a year. IF sick days are a common problem among your staff, make sure the office is cleaned regularly – vacuuming, disinfecting table tops, and changing old filters can all help reduce the spread of germs. These are simple tasks that can be done without spending. IF your employees are stressed then you’ve probably noticed they tend to miss more work – encourage your staff to use their vacation time or try implementing a wellness program to encourage proper nutrition.

  11. Take Action Contact Us Square 9 Softworks is an award-winning developer of innovative document management solutions built to streamline processes while eliminating paper-related costs. The cloud-enabled SmartSearch suite of solutions is designed to maximize productivity in an easy-to-use modular format. For more information on Square 9 and SmartSearch, please visit at www.square-9.com or call 203-789-0889.

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