With the year drawing to a close, CEO\u2019s and CFO\u2019s across the globe will be reviewing their financials. The result for many will be a need to reduce operating costs and improve profitability for next year. Businesses face rising costs from many different factors, new regulations, changes in technology or a devalued product from new entrants are just a few examples that significantly impact profitability and affect future financial security. For many businesses, these factors occur extremely rapidly and need to be combatted quickly.<\/p>\n
When faced with the challenge of rising costs most business leaders have a strong instinct for waste elimination and expenses reduction.<\/strong>\u00a0Leaders are naturally drawn to the back office as it represents a huge cost base in any organisation and is an obvious area for cost reduction. However, the back office is the engine that drives the business, delivering on the promises made by marketing and sales to customers which creates a real quandary for business leaders. They know that releasing resource in the back office will deliver short term gains, but they will end up in an under-resourced position that results in declining service levels and customer satisfaction. It\u2019s this challenge that frustrates many leaders \u2013 how do I reduce back office operation costs without adversely affect future position?<\/p>\n\t Beware of little expenses. A small leak will sink a great ship.<\/p>\n