Innovative Cost Savings Strategies Training Courses -

Innovative Cost Savings Strategies

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Why Attend

Cost cutting is an alarming subject for employees as these two words make them think that they will be personally targeted. However, cost reduction is not only about laying off employees. In this course, we will explore all the different strategies for the organization to reduce its costs starting with increasing productivity, then cutting costs everywhere in the organization. In addition, this course will cover the time value of money and the difference between cash and income as these two topics are important for managers and employees who do not have an accounting background.

Course Methodology

The course is mainly based on sharing real examples of what an organization can do to save costs. In addition, this interactive course will include presentations by the consultant as well as individual and group exercises and workshops.

Course Objectives

By the end of the course, participants will be able to:

Identify how costs affect both cash and accrual basis income
Analyze HR costs and find ways to decrease them before firing employees
Research and advise on cost cutting in different departments
Suggest and implement industry related cost saving strategies and techniques
Find new ways of doing business that can save hidden costs

Target Audience

Financial managers or directors, accountants, financial assistants, budget accountants, analysts, budget and planning managers and coordinators, operations managers, HR managers, facilities managers and professionals interested in cost savings.

Target Competencies

Analyzing costs
Assessing value adding costs
Decreasing costs
Cutting costs
Advising to buy or lease
Evaluating performance

Note

This course is worth (25) NASBA CPEs

Associations

National Association of State Boards of Accountancy (NASBA): Gulf institute Training & Consulting is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website www.learningmarket.org

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2019 - Location & Date

5 Days Course

No Schedules!
Please Contact Us if you have any queries..

Schedule for Me

2020 - Location & Date

5 Days Course

No Schedules!
Please Contact Us if you have any queries..

Schedule for Me

Fees

Per participant - 2020

USD 4,800

Fees + VAT as applicable

Tax Registration Number : 100239834300003

(including coffee breaks and a buffet lunch daily)

Discount Plans & Cancellations Policy

Course Outline

Importance of saving costs and improving productivity
- Advantages
- Disadvantages
- Costs effect on cash and accrual basis income
Analyzing HR costs
- Work force size
- Employee benefits
- Insurance
- Retirement and pension
- Exchange benefits for money
- Trainings
  - Trainings for new hires
  - Trainings for all employees
- Employee relations
  - Acquiring employees
  - Retaining employees
  - Eliminating bad employees
- Productivity and employees
- Travel and entertainment
- Alternatives to decreasing employees
Department costs
- Production
- Sales
- Advertising and marketing
- Shipping
- Accounting
- Purchasing
- IT
- Customer service
Industry related costs
- Home office
- Manufacturing
- Food service
- Retail
- Healthcare
- Education
Hidden costs
- Rent and building
- Maintenance
- Lease or buy
- Utilities
- Office supplies and equipment
- Litigation
- Outsourcing
- Theft

Accounting and Finance

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