INSUBCONTINENT EXCLUSIVE:
All business owners want to save money, but that can be easier said than done
Expenses pile up fast and sometimes emergencies wipe out a good portion of your savings.Since expenses can be so high, it might seem
up fastIt might just be $100 here and $300 there, but saving small amounts of money will add up over time, and accumulating money from
years.There are many different ways to save money, including cutting back on expenses, finding better deals, signing longer contracts,
avoiding unnecessary purchases, and pursuing reimbursement opportunities.One truck line company started tracking their warranty
reimbursement opportunities using Cetaris fleet management software and increased reimbursements by 990%.For many fleets, warranties are
Ever since software switched to a cloud-based subscription model, people have been paying monthly for services and applications they hardly
(and sometimes never) use.Businesses buy licenses for a special project and then forget to cancel when the project is completed
being overcharged on things like internet, electricity, and other expenses.If you can find a better deal elsewhere, try negotiating with
require approval for purchases over a certain dollar amount, but that gives employees the freedom to waste small amounts of money on a
Always require purchase approval, no matter how small.If you give anyone the power to purchase without approval, limit this to department
One way to save money is to stop wasting money
When you buy inferior, poor-quality goods and services, you end up spending more money in the long run because you have to pay more to fix
problems and manage the shortcomings.When you buy quality from the start, it lasts longer and you increase customer satisfaction at the same
good habitOnce you start saving small amounts of money, saving becomes a habit and it will become automatic
in the future, so this is an important habit to develop.Make changes where possibleIf you notice money being wasted, make immediate changes
no matter how small the amounts are.For example, you might find that your IT department has been spending $40 per month on a service that
can be rolled into your managed services plan for less.Or, you might discover a $20 per month software subscription that your marketing team
created, but nobody on the current team uses that application
Cut it all off.Turn saving money into a habitBy now, it should be clear that you can save plenty of money by cutting unnecessary expenses
Pursue all opportunities for reimbursement and in time, saving money will become a habit.
