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Tips & Tricks

Cost Effective Measures for a Business

Have you ever wondered why some tasks take so much longer than others? If so, have you come up with solutions to reduce the amount of time required to perform the task, including cost effective measures for same?
We are all so busy within an organization that restructuring a task or activity is not a priority. However, without question, it should be.

Every month, our company generates invoices for our product and services. In the past, all invoices within the organization were sent via the postal service. We now send the majority of our invoices via email. The end result: less time folding invoices, stuffing envelopes, adding postage. Not a big deal, you say? Well, let’s take this business example and determine how much is being saved using email versus the postal service.

Monthly Invoicing Example

Let’s say every month you send 200 invoices. Half are sent via the postal service and the others are sent via email. Costs are calculated as follows:

Postal Service Email Savings
100 Processed Invoices – Associate (i.e. 2 hrs @ $18.00/hr) $36.00 $18.00 +$18.00
Postage for 100 Envelopes $45.00 $0.00 +$45.00
Toner Usage (appx) $15.00 $0.00 +$15.00