(The price shown is for less than 500 employees. For prices for more than 500 employees download full pdf brochure here.)

Strengthening your business’s financial performance

“Even when things are going well, you have to be absolutely dedicated to decreasing costs. It is not something you have to do when things are difficult, it is something you have to do all the time and everywhere. Also, it is easier to reduce costs relatively and improve margins when you have a growth strategy, because you gain maximum efficiency from fixed costs. Achieving low costs is not so difficult. What matters is having the right costs and high motivation. If you have low costs and people are unhappy, then you have bad results.”
(Jean Cyril Spinetta)

Financial decisions should not be left entirely to experts. Financial issues and techniques – such as cost and cash flow management – affect all managers with financial responsibility and are influenced by everyone.

he business is more competitive, flexible and stronger if costs are being actively controlled and, above all, if there is a culture within the organisation of cost control. In particular, cost control and cash management means the business is better able to make acquisitions, drive increases in revenue, take customers from competitors, enter new markets, develop new products and weather potential problems. What matters is not simply having ‘low’ costs (or relatively low costs compared to competitors), but having the right cost structure to generate profit, compete and build the value of the business.

This toolkit provides a clear guide to controlling costs and managing cash flow.

Length: 11 pages

Contents:
The Benefits
Action Checklist: Controlling Costs and Cash Flow
• Prepare to control costs
• Encourage people to find savings
• Find out why costs rise
• Decide how to treat the least profitable products
• Avoid weak budgetary control
• Manage debtors
• Manage inventory levels
• Manage purchasing and creditors
• Use discounted cash flow for investment appraisal

Avoiding Problems – this includes avoiding potential pitfalls relating to inventory, customers, costs, cash flow, credit and creditors.
Key Questions

Dos and Don’ts

Things You Can Do
• Control costs
• Communicate and keep people informed
• Prepare and use a cash flow forecast

Further Action

Further Information