Cost Reduction and Control Best Practices: The Best Ways for a Financial Manager to Save Money

Many companies believe they need to eliminate at least 7 percent in costs to return to healthy profit margins. Could your company make that adjustment effectively? This book outlines best practices for cost control, looking at a variety of target areas including compensation, 401(k) plans, logistics, purchasing, inventory, mail center, and a number of other areas. For example, under compensation costs, you'll find tips for controlling the pay mix, instituting pay for performance, changing merit increases, using salary benchmarks, and hiring part-timers. Most likely to benefit from this book are controllers of large firms, as well as financial managers of small- and mid-size firms.