Cost Reduction & Recovery solution is right for your business if you answered yes to any of the questions below.
- Does your business suffer losses?
- Do you feel that your business is losing more money than expected?
- Do expenses go out of control?
Our Approach to Cost Reduction & Recovery
- Analyze your financial statements for the past 3 fiscal years and the interim statements.
- Calculate key financial metrics.
- Compare the metrics to the industry benchmarks.
- Identify gaps, improvement, expense reduction and recovery opportunities.
- Develop an individual Plan to reduce and recover business expenses.
- Implement the Plan (if applicable).
Timeline for Cost Reduction & Recovery
- Up to 3 weeks to provide you with an individual Plan.
- The implementation timeline depends on the scope of the Plan.
- Cost of the Plan Development – $750 + tax.
- The implementation fee depends on the Plan and will be quoted upon its completion.
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Even if your business is profitable, which it should be, you can still benefit from controlling and reducing your expenses. The key difference between our service and that of your accountant is that your accountant states facts that your business loses money here and there, but they won’t offer a custom expense reduction strategy.
This service is not designed for businesses younger than 3 years old because you can only see the trends if you look at 3+ years of financial performance data. We also found that the companies where the only expenses are labour and subcontractors won’t benefit from this service.
If your business has a Chief Financial Officer (CFO), it is usually their job to monitor and proactively address expenses. However, we are happy to provide input to your CFO by developing a custom expense reduction plan.