Cutting costs, increasing margins

Hi I’m Eddie Young, and this is the second in a series of blog entries I hope to bring you, exploring some of the burning issues faced by our industry today. In this instalment, I’ll be talking about ways you can cut costs and increase efficiency, both important for survival in our difficult current economic climate.

Clients are savvy these days, you can’t get the most money just by charging the clients more! You have to create efficiencies by reducing procedural costs, while increasing business efficiency. We have developed products to try and assist with these aims. These include timesheets which can be sent to a fax server. Or, we can even help with electronic collection of timesheet data via scanning, web portals, and client timesheet data via spreadsheets. The days of one size fits all are over! You don’t have to have one stakeholder doing all the work. Someone could be doing the inputting remotely, and sending it to you electronically, saving you precious time and resources.

Removing a paper trail is vital. Not only is this vital for saving our planets resources in these increasingly greener days, but also to save time, and reduce margin for error. Electronic timesheets eliminate the time lag between a timesheets completion, authorisation, and processing. Debtor days are reduced, as invoicing can be completed days earlier than the paper based equivalent.

I’m not describing the world of science fiction, this is happening today. Even where some of our clients don’t feel ready for electronic authorisation of timesheets, there is a gentle introduction. The ability to deliver to a worker their timesheet for the week, and print it ‘in the old fashioned way’ once completed, can be achieved electronically. This method is regarded by some of our software users as an introduction to the principle.

I’ll be writing a further few blog entries soon, but would be interesting in hearing your thoughts on these matters or anything else relevant to our industry on!

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