Cost Reduction Archives - Expense To Profit

Inflationary Effects on Wages and Benefits

One of the most significant topics in virtually any industry is inflation. Currently, avoiding conversations about inflation seems impossible, and it is not good news for business executives or workers. The inflation and uncertainty in the stock and crypto markets make conversations around full recovery inconclusive. According to the U.S. Bureau of Labor Statistics (BLS), consumer prices have risen to 8.3% – the highest inflation rate recorded since 1981. The producer price index (PPI), an indicator of consumer price, also rose to 11.2%. Which raises further questions about the inflationary effects on wages and benefits?

Inflationary Effects on Wages and Benefits2022-05-19T11:08:28-04:00

Digital Solutions for the Cannabis Space

Despite the pandemic, the cannabis industry is one of the fastest-growing industries in the US and the world. As local, national, and international regulations begin to ease, the industry is expected to boom over the years. Because of this, businesses in and around the cannabis space are popping up across the United States.

Digital Solutions for the Cannabis Space2022-05-09T10:25:21-04:00

How is Your Business Procuring Energy?

Procurement is the thread that holds production, sales, quality, sustainability, and supply chain management together. Thus, it is a commonplace to see business executives on high alert on procurement processes. Consistency reviewing your business's expenses and strategies can help reduce waste and overages and even help turn a more significant profit. How your business is procuring energy is no different from many other expenses.

How is Your Business Procuring Energy?2022-04-20T10:39:39-04:00

Managing Expenses With An Impending Recession

As businesses and corporations the world over put the struggles of the global pandemic behind, the battle for economic stability lingers. Now more than ever, business executives are dealing with a different economic downturn: impending recession.

Managing Expenses With An Impending Recession2022-04-13T09:13:31-04:00

Using Aggregators and Overpaying for Merchant Fees

As more businesses create a digital presence, the ability to process credit cards and online payments has become standard operating procedures. Beyond the weekly and monthly expenses business executives deal with, merchant fees are a nightmare. If you are not conversant with the financial jargon, statements, rates, and charges, you could be at a loss as to what the best is for your business. This is often where merchant aggregators become a part of the conversation.

Using Aggregators and Overpaying for Merchant Fees2022-04-04T12:15:06-04:00

Hybrid Work: The Right Balance and Costs to Consider

The word 'Flexibility' took a new meaning in the workplace when COVID-19 happened. While businesses navigated the hurdles of keeping their workers safe, the need for remote work persists. Hybrid work environments became more abundant and continue to be a large part of employers' offerings moving forward.

Hybrid Work: The Right Balance and Costs to Consider2022-03-29T12:30:36-04:00

Insight into Workforce and Supply Chain Issues

As we put the effects of the pandemic behind us, noticeable challenges are currently plaguing the workplace and supply chains. These issues hinder employers from attracting and keeping workers on the payroll. More so, these issues hamper the operations of the business. While some supply chain issues are out of your control as a business owner you can manage others.

Insight into Workforce and Supply Chain Issues2022-03-22T10:08:46-04:00

Inflation and Expense Reduction

For over two years, businesses and corporations have struggled to deal with the effects of the global pandemic. While it lasted, the global economic landscape changed dramatically. We are dealing with a different kind of pandemic now: rising inflation.

Inflation and Expense Reduction2022-03-15T10:44:08-04:00

Does Cost Segregation Help Small or Large Businesses?

Cost segregation is a unique tool to minimize tax burdens while maximizing depreciation deductions. It is particularly beneficial for both small and big businesses. Most people have not been paying attention to it because they do not know how it works.

Does Cost Segregation Help Small or Large Businesses?2022-02-28T14:09:31-05:00

Have You Reviewed Your Banking Fees?

As we attempt to move into a post-COVID world, it is essential to review your business operations to reduce expenses and boost profits. As a business owner, you should also consider costs that you may even deem somewhat determined or non-negotiable. These expenses can include something such as banking fees.

Have You Reviewed Your Banking Fees?2022-02-08T13:55:51-05:00