This volatile economic environment has created fresh opportunities for companies to act on the cost agenda, but they need to move beyond traditional cost-cutting measures to new strategies that will position them for long-term success. Companies need to build on more scalable growth platforms, positioning them to strategically reinvest in programs that deliver greater resilience and stronger purchasing and pricing capabilities; that includes growing top-line revenue and reducing dependence on volatile labor markets while improving employee retention.
Successful companies deploy five strategies to achieve these goals.
1. Get spending visibility:
2. Differentiate between strategic and nonstrategic spending
3. Unpack the drivers of spending
4. Reduce consumption & generate cost savings
5. Eliminate work through automation
Learn how Quantity Surveying can be a long-term approach in helping you achieve these goals.