All suppliers’ costings and contracts can, and should, be reviewed regularly, but in the current climate where trading is particularly tough, you should first focus on quick wins. These can lead to immediate savings and will probably require less effort for most gain. The areas to focus on first are:
Gas and Electric
Review now, even if in a contract. Lock in prices at today’s rate for up to 2 years in advance. This could realise 10% savings on your current payments, but by acting now you could enjoy even greater savings in a year’s time. It’s entirely possible to save an average of 28% across your utility bills.
A reputable Business Rates Partner can check if you qualify for a rates relief on the amount you have been paying over the last three years. If you have overpaid, you will be entitled to a much-needed refund. If you operate in the hotel and leisure industry you have an excellent chance of a refund. Business Rates Partners will only charge on a ‘No Win, No Fee’ basis, therefore you have nothing to lose.
Often there are no contracts involved for office consumables such as stationery, making this expenditure review a very simple process and a quick win in these difficult times. Reviewing this commodity will usually yield approximately 20-30% immediate savings for SMEs.
Review your cost per print and lease payments. Did you know that once you are 60% into the length of your current contract, then you can switch contracts and often achieve considerable savings with your new supplier.