We all know the old moniker, a dollar saved is a dollar earned. While that’s certainly true, it can be easier said than done. For many fractional CFOs, working as an outsourced expert, you don’t necessarily have the authority to cut costs in every area of the business. Likewise, cutting services and staff isn’t always a long-term solution to help your client. Many fractional CFOs focus on revenue growth for this reason.

There’s nothing wrong with focusing on growth; most businesses want to grow. However, the longstanding knowledge many cost reduction experts know is that as little as a 5% decrease in costs can represent as much as a 45% sales increase.

Why is this the case? Simply, the effort in growing sales makes it less profitable than cutting costs. The human resource hours, marketing spend, production costs, all of that adds up and eats into the profit of a sales increase. Decreasing costs, on the other hand, when done correctly, shouldn’t have consequences.

So how do you implement effective cost reduction strategies for your clients without cutting staff or services?

Schooley Mitchell is your trusted resource for all things cost reduction.

As North America’s largest independent cost reduction firm, we know how to assist businesses of all sizes reduce costs on operational expenses, without causing any service disruption. It’s what we do, all day every day.

Schooley Mitchell delivers objective business optimization advice, offering a broad range of services including analysis of existing and future needs across over a dozen cost categories, assessment of best alternatives, and implementation of cost-effective solutions. Consultants receive no kickbacks from providers, and services are risk free – there is no cost unless savings are found. On average, Schooley Mitchell reduces expenses by 28%, producing over $1 billion in savings to date.

If your clients use services such as telecommunications, merchant processing, waste disposal, shipping and courier, facilities or office supplies, among many others, to operate, then chances are, they might be overspending on their invoices without even realizing. Schooley Mitchell’s unique baselining process and ongoing monitoring ensures that those dollars saved – and therefore, earned – keep building for years to come.