5 ways to cut down the costs of your project

All successful businesses explore new ways to reduce the costs of doing business, be it on technology, payroll or unplanned expenses. At Fenix we are always exploring ways to reduce any excessive payments. Here are five ways employees can help slash the costs of doing business:

  1. Use Skype For Business instead of a paid-for video conferencing portal

    Software can be very expensive. Overheads can be cut drastically by utilising free-to-use software such as Skype For Business. There will be times when more reliable paid-for portals should be favoured, but internal chats can usually be carried out without the costs.

  2. Get your head in the cloud

    Another way to save money on technology is to use cloud solutions such as Google Drive and Dropbox for file and data sharing. Google Docs is also a free and reliable word processing platform if you don’t want to shell out for a costly Microsoft Office subscription.

  3. Reduce travel costs

    Before you arrange a meeting that would involve the associated costs of managers from other sites travelling across the region, or even the country, think about whether the meeting could be conducted successfully over video conferencing software. Of course, sometimes face-to-face contact is vital, but the lower-cost alternative should always be considered.

  4. Negotiate everything

    Never take any cost at face value – your customers won’t, so why should you when you are the customer? Don’t be afraid to discuss alternative pricing structures with clients, but always do your homework first. You don’t want to look like you are trying it on.

  5. Reduce your waste

    Wasted resources squander business’ funds. That is why we recommend our people recycle, reuse, and repurpose whenever it is feasible. By going greener, our costs get leaner.

    Striving for a paperless office is a solid starting point. Don’t print out hard copies of documents where electronic documents can be used. Use two-sided copying. Distribute hard copies only to those who must have printed versions. These small steps alone will lessen paper, toner and storage charges.

    Can you come up with any ways to use fewer (or less expensive) materials? Are there duplicated procedures, or production-slowing processes, that can be altered?

We’re always open to feedback and suggestions, so if you have any other cost-saving tips, we’d love to hear from you.

©2021 Fenix Rail Systems