Quick wins for cost savings?

There are a few quick questions for CEO to ask CFO:

1. Are we reviewing and eliminating unused subscriptions?

2. Have we deactivated user accounts of ex-employees from our financial systems?

3. Which manual business processes can be automated for greater efficiency?

4. Are our analytical procedures optimised to challenge current business costs effectively?

5. Should we consider revising or implementing a more efficient tax structure?

6. Does our lease expenses improve our EBITDA?

7. How effectively are our marketing campaigns and investments performing?

8. Can technology help us identify and reduce production waste?

Although these questions may appear basic, they address the most prevalent cost inefficiencies. It is crucial for CFOs to continuously review them rather than waiting for the impact of events like COVID-19 to prompt action.

At S.I.A. Consultancy, we specialise in diagnosing the financial health of your business, restructuring business processes, improving control environments, and introducing digital solutions. Our goal is to find the best solutions to upskill your team and position your company for future growth.