One, you can increase sales—and for each dollar that you increase top line revenue, a percentage of that contributes to profit. Two, you can reduce expenses, in which case EVERY dollar that you save goes directly to the bottom line.
There are both good and bad options for reducing costs:
Many times the FINANCIAL DEPARTMENT APPROACH is taken. Cut personnel, reduce purchases by a certain amount, or just reduce every expense line by a set percentage. However, with some of those moves, you run the risk of adversely impacting your staff performance or customer experience - this can have a long-term negative effect on your company.
The more advantageous option:
Bottom Line Advisors will reduce the cost of what you pay your outside vendors for products and services. Ideally, you want to reduce costs while maintaining or even improving the quality and value of your products and services. Instead of simple cost-cutting, we help you buy smarter through a detailed “sales” approach. We conduct individual in-person supplier meetings on your behalf. We make every effort to work with your current suppliers first, as we strive to preserve all of those long-term good relationships. If we find it necessary to bring in a third party, we never compromise quality, service or goodwill. And, by design, we are not tied to any "go-to" vendors.
Being outside consultants, we are disconnected from the day-to-day relationships, enabling us to implement strategies that optimize and maximize savings. This is not always practical for internal purchasing teams, but it is the essence of what Bottom Line Advisors does. It is a painless process for our clients, as we do ALL of the work.
