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VERALLIS is a cost management services company for private and public businesses and organizations. By examining a company's wide range of operating expenses, in areas like logistics, freight, energy, advertising, telecommunications, printing, insurance, courier, rent expenses etc, our expert analysts find opportunities for saving and provide solutions for cost reduction with optimal quality, customer service and value.
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George DimopoulosManaging Partner
4 Major Barriers for continuous cost reduction
Countering the Greek Economy Slowdown:
Optimize Operational Performance
Create Competitive Advantage
Economic Environment
World Competitiveness RankingCountry 2013 2014
USA 1η 1η
Switzerland 2η 2η
Singapore 5η 3η
Hong Kong 3η 4η
Sweden 4η 5η
Germany 9η 6η
Canada 7η 7η
United Arabic Emirates 8η 8η
Denmark 9η 9η
Norway 6η 10η…………………………….…………………….………………………
Bulgaria 57η 56η
Greece 54η 57ηArgentina 59η 58η
Croatia 58η 59η
Venezouela 60η 60ηSource: IMO World Competitiveness Ranking 2014
‘’Why, is it so difficult for cost reduction measures to have enduring value to business results? ’’
Sustainable Cost Reduction
Source: Verallis
4 Major Barriers for continuous cost reduction
1. Not Knowing what exactly to cut
Merchant Card FeesUniforms
Industrial GasesSecurity
CouriersOther
CleaningWaste Management
Factory ConsumablesTaxes
Office SuppliesPrinting
PackagingFleet Management
InsuranceMaintenance
TelecommunicationsFacility ManagementTravel Management
FreightLogistics
MarketingEnergy
0.31.01.0
2.73.0
4.75.35.6
8.08.38.39.09.3
14.615.616.9
18.619.920.6
25.227.228.2
43.2
Up to three choices possible Source:EBS Business School & Ex-pense Reduction
“The first step on the road to cost reduction is to identify what is currently going wrong and what expenses are vital to cut!”
2. Not be proactive
“A lack of time is one of the main obstructions to effective cost reduction”
3. Not Knowing how much you should spend
“Most managers believe that what our company is spending is the <<right>> amount to be spent. However, too often this seems to be an illusion!”
4. Not regularly measuring your usage
“Without a clear monitoring and measuring system it is impossible to gauge where resources are being wasted”
Breaking Barriers
Rely on Experts
Expense Reduction Potential
Proven Results
22,7%
Stephan WagnerManaging Director
CFO?Take care of …Yourself
The complex role of the
(usually feeling
stressed) CFO :
Monitor and drive profitability
Improve business processes
Strive towards operational excellence
Support various business units
Reduce expenses
Interact with multiple third parties
Manage a team
The issue
“ I feel I’m spending too much time on day-to-day stuff”
“I’ve not really the time to focus on some important projects”
“I’m working too many hours, never see my kids”
“There are a lot of tasks I feel I cannot delegate ”
CFO care program
for the back to school period
4 focus points with a great pay-back
No 1Use the urgent - important matrix
1.
Use the urgent
– important
matrix Monitor your activities for a few days Analyze how to transfer from Q3 and Q4 to Q2 Repeat after a few months
Define an ideal target and go for it
4 x 2 hours rule
2h day to day work
2h training & managing my team
2h working on new value added projects for the company
2h for getting fueled (essential reading / networking / training)
No 2Manage your emails smartly
2.
Manage your
emails smartly
Don’t get disrupted by incoming emails
Check your emails 3 times max per day - one session will be dedicated to answer emails which need more attention
Use only 3 folders to manage your in-box 1. answered 2. to be answered 3. forget it
No 3Delegate (…smartly)
3.
Delegate smartly
Pick 2 - 4 talents in your team
Manage by objectives and by projects
Delegate
Give clear objectives / follow-up / give feed-back
Train them
No 4Get out of your office!
4.
Open up to new ideas
Get a feeling for new trends
Visit your clients, your suppliers, other company’s locations
Read things on the internet
Investigate new technologies
Talk to colleagues / third parties
Network
Get some training
Thanks and have fun!