Businesses that learn how to cut down on their recurring office expenses can easily improve their bottom line and remain competitive in today’s marketplace. Reducing the cost of electricity, printing, digital storage, insurance, telephone usage, and office supplies will definitely make a business more profitable. Here is a brief description of the steps you can take to reduce office expenses.
Reduce the Cost of Electricity
Cutting down on your electricity usage can drastically reduce the total cost of running your office. There are three major areas you should focus on when you want cut your electricity bills: lighting, unplugged devices, and climate control. To reduce the cost of lighting, use the most energy-efficient lighting – LED bulbs. Then, where possible, install motion sensors that can automatically switch off the lights when there is no one left in the office.
Next, you should ensure that all unused devices and appliances are unplugged before you leave the office, especially on Friday evening. This will lead to appreciable energy savings. Additionally, you should follow efficient heating and cooling practices. Adopt the use of a thermostat lock – a device that restricts the adjustment of the thermostat within a specific range. Hence, you will avoid the waste of energy caused by incessant adjustment of the cooling or heating appliances anytime someone feels cold or hot.
Save on Printing Costs
To save the cost of printing in your office, start by replacing or trading-in all the small laser and inkjet printers for one networked printer. This will automatically reduce the cost of replacing the ink and toner cartridges every month. It will also minimize of printing each page and help you to cut the cost of energy used to power your printer. Also, you should train your staff to always preview documents and re-format them to reduce the total number of pages. This is particularly important when your employees are printing web pages. When it comes to saving on printing you can also use remanufactured toner cartridges. They cost less but the are the same quality as the originals.
Use Digital Cloud Services
Another way to save money in your office is to start using cloud services. A reliable cloud service will help you to reduce the cost of buying software licenses. For a reasonably low monthly or annual subscription fee, you can have access to many cutting-edge software tools that will enhance collaboration and productivity. You will also be able to store your documents securely on the cloud service provider’s server. This will make it easier for you to access your official documents from anywhere with your laptop, tablet or smartphone and save you the cost of installing and maintaining a dedicated server.
Minimize Insurance Costs
If you need to pay insurance premiums regularly in your business, reducing these premiums will definitely have a positive impact on your bottom line. You can reduce your risk and then negotiate with your insurer to reduce your premium. For instance, installing a suitable security alarm system in your business premises can help to scare away thieves and minimize the risk of theft. Similarly, installing a functional fire alarm will help to cut down the risk of having a fire outbreak. Consequently, you will save money every year on the cost of business insurance.
Cut Down Your Telephone Expenses
You can reduce your telephone bills by monitoring your usage closely for at least two months and then selecting a tariff plan that will optimize your telephone costs. For instance, you should evaluate the number of hours you spend making calls, the number of text messages you send, and the volume of data you use when you browse the internet. Take advantage of cheap resale packages that have been designed for the size of your business. In addition, you should reduce the number of phone lines in your office and allow employees to share official phones. Make use of free internet calls on Skype and use bulk text messaging services over the internet where possible.
Adopt Sound Inventory Practices
Managing your office supplies efficiently will help you to reduce wastage caused by over-ordering, over-stocking, unexpected shortages, and frequent retail purchases. Make sure you keep all your office supplies in a central location. Scattering them in different places will make it difficult to monitor inventory levels. This could easily lead to unexpected shortages that prompt emergency buying at expensive retail rates. Instead, you should have a register for your important, frequently used supplies, and buy them in bulk. Purchase a quantity that will minimize the cost of ordering and the cost of storage. Depending on your needs and your budget, you may purchase your supplies quarterly, half-yearly or annually. This will qualify you for quantity discounts that could lead to appreciable cost savings.
Conclusion
Implementing one or more of the cost saving ideas provided above will make your business more profitable. When you are trying to reduce the cost of office expenses however, you should ensure that the steps you take will not affect your desired level of productivity.