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Increasing Revenue through Cost Cutting

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Information about Increasing Revenue through Cost Cutting

Published on November 8, 2013

Author: yosefmeystel

Source: slideshare.net

Description

The purpose of any commercial organization or business is the same: to increase the organization’s net profit from one year to the next.
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By: Yosef Meystel

  Since 2006, Yosef Meystel has served as president of YAM Management. During his tenure, Yosef Meystel has helped the company achieve a consistent 25% increase in revenue.

    The purpose of any commercial organization or business is the same: to increase the organization’s net profit from one year to the next. innovative new products and quality customer service can lead to increases in revenue, this goal can also be achieved by cutting operating costs. The majority of employees in today’s workforce own mobile phones, with many major corporations providing company phones. Meanwhile the Internet allows for a wide variety of communication options, including international video chat, effectively rendering any companywide phone system obsolete.

   Embracing technology can help many organizations—particularly small and mediumsized businesses—cut costs and increase revenue. In fact, certain jobs can even be automated. Switching from security guards to an automated security system, for example, can help businesses reduce security expenses by up to 50%. While the installation of automated technologies such as a computerized security systems often comes with pricey installation fees, the low cost of maintenance and operation compares favorably to a full-time employee salary in the long run.

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