The Four Pillars of Business Cost Reduction
May 22, 20242 mins read
Written by: Sean Fox

The Four Pillars of Business Cost Reduction

Learn how to save hundreds of thousands of dollars or more annually with a multi-pronged approach to cost optimization. 

Companies of every type and size spend thousands more than they need to on monthly invoices for their various business services. It’s not because they haven’t negotiated good contracts with their vendors. It’s because of multiple reasons including all-to-common billing errors, price creep, loopholes, service redundancies, and, perhaps most importantly, a lack of benchmarking data to truly understand best-in-market pricing, terms, and conditions for the wide range of business services needed for an organization to run successfully. 

The Four Pillars of Business Cost Reduction unpacks the reasons for rampant overspending on business services. Then, it dives into a four-pronged approach for effectively reducing costs across spend categories and illustrates how using all four cost-reduction strategies together can lead to optimized spending for the long-term, saving companies an average of 11-34% of their total business services spend.

Download The Four Pillars of Business Cost Reduction to Explore:

  • The significant opportunities all companies have to reduce their business service spending without changing vendors, service levels, or anything about the way they do business.
  • How limited time and resources for invoice auditing and a lack of empirical data for benchmarking purposes contribute to rampant overspending on business services such as utilities, telecom, shipping, waste management, and more.  
  • The four proven tactics for reducing business costs: contract compliance, data-based price negotiations, auditing and rightsizing service levels, and validating savings on an ongoing basis. 
  • How support from a cost reduction and contract compliance partner can be instrumental in identifying and realizing the full cost reduction opportunity. 

See how you can spend significantly less on your business services without changing your vendors, service levels, or operations. Download The Four Pillars of Cost Reduction to start shaping your smarter spending strategy today.

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