To ensure success, businesses need to deploy methods that can help them reach their internal targets at the lowest cost possible.
Acquiring tools, technology and staff without negatively impacting profit margins is a challenge that many businesses face. The stress of competition, remaining in line with regulations and staff satisfaction can also affect profitability, which is why it’s important to outline areas that can be improved from a costing perspective.
How to be cost-effective
We’ve outlined three major areas to consider when analysing your business’ cost effectiveness:
- Managing costs with a strategic plan
- Infrastructure of system/workforce
- Seamlessness of automation
1. Managing costs with a strategic plan
Before investing in a new tool or different technology that you think will improve your business’ day-to-day activity, it’s best to outline a clear cost plan, aligned to your strategic goals.
Consider where you source your material from. Perhaps you regularly source IT equipment or stationery. Could you potentially source it from elsewhere and cut costs this way? If you source from another country, could you cut time costs by looking at a more local source?
2. Infrastructure of system/workforce
You may have a completely system-based infrastructure that works by itself without any human input. But – what if there’s a glitch? Do you have the internal resource to conduct regular checks, and provide support to customers if your system goes down?
It’s important to review your staffing situation in line with your business’ technological needs. Do you have any members of staff that could take on a slightly different role with training, rather than spend money on employing somebody new?
3. Seamlessness of automation
This goes for every aspect of your business, not just system properties. There are a number of questions you can ask yourself to assess how effective your current processes are:
- How effective are the daily tasks people complete?
- Are there ways in which tasks can be re-worked and split between different people?
- Can processes be altered, without sacrificing compliance? If you deploy a payment solution into your business, how do you know it will provide a seamless experience, for both you internally and for your customers?
But most importantly – is it cost-effective?
If your business deals with taking payments from customers, there are many ways in which you can be more profitable. To take card payments over the phone in a cost-effective way, your business should consider a cheaper payment solution.
That’s not to say you should settle for a solution that doesn’t deliver. Slow deployment and complicated integration could be a huge hindrance to business growth. It’s important to consider key areas in your business that are most affected by costs, but are also the absolute backbone of the business.
Consider cardassure
cardassure is designed meet the immediate needs of your business. Not only does it slot in with strategic costing plans, but it also relieves pressure from outdated and struggling system infrastructures, providing a seamless experience.
But how does cardassure do all this?
Created with small to medium-sized businesses in mind, cardassure provides a high standard payment solution, for less money than its direct competitors.
cardassure’s overall cost is less than the price of a coffee per day
This business payment solution integrates with existing infrastructures and legacy systems, which saves taking time out of staffing hours to fix any friction or problems that could occur.
cardassure can also be set up via VoIP platforms, and is completely cloud-based. That means there is no on-site set up or hardware required.
Get access to a solution that can be deployed quickly, with simple, flexible integration (it’ll cost you less than a cup of coffee a day!)
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