It seems, some suggestions on cost savings have been liked by readers and they have been pretty vocal in praising the viewpoint I have put.
In my own understanding, there is a lot more to cost savings than just outsourcing strategy. I would mention some of them and try to discuss that in some of my next blogs.
Our friends and colleagues in US and Europe are struggling to cut cost and try to crawl back to normal situation post recession which in my memory has been the hardest on every person I can think of. This all started with greed and assumptions which no sane person in an economy like India would ever attempt. Nevertheless the damage was done and people had to suffer.
The funniest thing I discovered is that companies are now waking up on the agenda of cost cutting. There are moves and initiatives to reduce cost and some have gone to the level of paranoia to save cost. I read in BBC news that some of the companies are even asking employees to reduce the trips to toilets while at work.
Cost reduction should not be treated as a move when recession hits but it should be practiced always as a way of life.
While technology helps since it is available all the time to us, it can help save a lot of money for companies by “Not being available” as well. YouTube, Facebook, LinkedIn and other such social platforms end up eating a lot of valuable time and resources of companies. By not being available, companies can actually save a lot of cost.
I have observed that most of the employees are not conversant with the most commonly used tools in offices. Microsoft office is very powerful and can help reduce time of a lot of work employees do today. Companies should take initiatives to train and make employees expert in these common tools. The productivity is bound to improve.
Make office printer free. Paper as well as printer consumables and then the storage space to store those papers add up to a big cost. Say bye to this and restrict printing only what is really needed.
PCs and Laptops actually do not use most of the processing powers they are having. Moving to thin clients or converting existing computing assets into thin clients would help reduce capital cost for the company and probably help reduce e-waste.