Learn some great tips on how to reduce expenses in a company. From switching to VoIP to paying incentives to employees who purchase their own mobile devices to use for work purposes, if you are looking for additional ways to cut down on your monthly costs, contact Network Telecom today. We offer a free cost reduction report, and we can also answer all of your telecommunication questions. Choose to partner with Network Telecom and save.

How to Reduce Expenses in a Company

Every business, whether it has less than 5o employees or more than 1000. is always looking for ways to cut down on expenses. Here are some helpful ways for you to decrease your bottom line.

Switch to VoIP to Cut Down on Monthly Telephone Expenses

Switching your phone system from a traditional landline to a VoIP (Voice over Internet Protocol)  can save you:

• in long distance charges: with VoIP, you no longer have separate long distance charges as your calls are transmitted through your Internet connection.
• in cabling charges: unlike a landline, a VoIP system plugs into your existing network and therefore doesn’t need expensive phone cables installed if you are putting in a new phone system
• in monthly fees: with VoIP you can use your current Internet service; you don’t have to pay for an additional service. You may have to increase your bandwidth size though if it isn’t sufficient to handle your VoIP system, however, the monthly fees are usually much less than a traditional landline phone system.

Learn more about VoIP in our article “What Is VoIP”

Switch to VoIP and you will no longer be paying long distance fees

Save on Software Expenses

You can save on software purchases by using SAAS (software as a service) instead of purchasing new, expensive software programs. SAAS allows you to use software programs on the cloud such as Google Docs, QuickBooks, and Salesforce for a small monthly fee which works out to a fraction of the cost of purchasing your own. Cloud software also has the advantage of being up-to-date. If you purchase your own software, you have to continually be updating it as newer versions are released.

Get at Least Three Quotes on All Your Purchases

Competition is tough for your business and it’s the same for your suppliers. That’s why it’s a good idea to shop around and get more than one quote for any of your office purchases. If you mention a competitor’s quote to a supplier, they will often match or give you a lower price to get your business.

Cut Down on Paper and Go Digital

If you track how much your business spends on paper and printing costs you may get a shock. You can make significant savings by switching your previously printed materials to digital versions. Saving files in the Cloud is a great alternative to having boxes and boxes of files in storage, especially if you aren’t legally required to keep these documents and rarely refer to them. They are just taking up valuable storage space. You can also save on rent as storing paper requires you to have a space large enough to store your paper. Going digital means that you can do with less space. In addition, digital files are much more environmentally friendly.

Go digital and save big on printing and paper costs

Save on Shipping Fees and Pick Orders Up Yourself

If your business is located close to any of your suppliers, pick your orders up yourself whenever possible or have a friend or family member do it for you if they are passing by. You should only pick up supplies if it is truly saving you money. If the trip costs you more in gas or in time than what the shipping fees would have cost, then don’t do it.

If you do a lot of online ordering with companies like Amazon, it might be worth your while paying their monthly fee for fast, free shipping (Amazon Prime).

Establish a BYOD – Bring Your Own Device Policy

Companies are finding that by subsidizing employees to purchase their own laptops or mobile devices to use for company purposes they can significantly cut down on costs. This policy is very favourable for employees who want to use the electronic device of their choice instead of the type their company would have chosen for them. In an article in Network World, Federica Troni, research director at Gartner, states that “IT leaders can spend half a million dollars to buy and support 1,000 enterprise-owned tablets, while they can support 2,745 user-owned tablets with that same budget.”

Pay incentives to employees who buy their own mobile devices and save

Use Re-manufactured Toner Cartridges

You can save on toner costs and be more environmentally friendly by purchasing re-manufactured toner cartridges. These are printer cartridges that have been sent to a re-manufacturing plant when they are empty to be refurbished and filled again. Make sure that you are buying cartridges that have been “re-chipped.” This means that the internal computer chip that estimates how many jobs your cartridge has left has been replaced and will function properly.

Buy Used Office Equipment

Entrepreneur.com estimates that you can save up to 60% in equipment purchases by buying used computer equipment, photocopiers, and office furniture. If you are purchasing technical equipment such as computers then it’s probably best to get refurbished ones that come with a warranty. Office furniture, on the other hand, doesn’t need to come with a warranty as you can see what kind of shape it is in before you purchase it. You can get great deals on office furniture on sites such as Kijiji.

You can save up to 60% by purchasing used office furniture – Image Source: Kijiji

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