Business development is important but you should never stop paying attention to the detail of your expenditure. I offer my clients some cost benchmarking services that are free, even though cost savings are generated. On utility bills we, on average, save over 20% compared with previous costs. This now includes water as well. If you are spending in the region of GBP 1,000 or more per month on water then we should be talking now. All that is required is a letter of authority and copies of recent invoices, so for minimal effort significant savings can be achieved. Do not think that your business is too small to qualify. We can look at grouping businesses together to increase your bargaining power. You would still each get your own contract and separate invoices but benefit from the rates available to higher volume users. Remember it is a free service and you keep 100% of any savings achieved.
On average we can save around 1.4% on foreign exchange transactions compared to bank rates. This may not sound much but if you have to settle invoices in foreign currency to the equivalent of GBP 100,000 every month that equates to an annual saving of GBP 16,800. Transaction charges will be lower than most banks charge as well. If your business has significant foreign currency transactions, then we should be talking. For the sake of a phone call, wouldn’t you want to check that the rates you are getting today are the best available?