lift group 360 cost reduction program
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Our 360 Cost Reduction Program is the ultimate service for companies wishing to reduce business costs and lift profits. Our aim is to administer a program within your organisation that delivers a scope of benefits lasting years. And rather than simply provide strategic advice, we train each of our clients in our methodologies, equipping them with the necessary skills to ensure cost reduction management is employed throughout their organisation. We don't just run a software program, and print of a generic report, rather our team will carefully examine all you business costs (even those you've never imagined could be reduced) and creates a program for your company to implement.

Start - Initial Consultation and Discussion

This is the most preliminary consultation, where we'll speak with a member of your senior management team to find out some details regarding your business. We'll also go over the basics of cost reduction (so you understand what it really is) and share some of our experiences. This is an informal meeting, and is of course without obligation, where we'll discuss:

- The entire scope of your business operations
- Management and leadership team profiles
- Areas & categories of spending concern
- Cost reduction expectations / estimates
- Where the Lift Group fits into the picture

** Following this meeting we will take away some of your financial data and statements and our team will look at your spending patterns in a few key areas. At Lift, we have a strict policy of only taking on clients only where we are confident of delivering a result, that meets their expectations. We see no benefit in promising results we cannot deliver and compromising our credibility. It is only after careful consideration that we will submit a formal proposal, outlining the full scope of our services, together with a schedule of fees for your consideration.

Stage 1 : Review, Analysis & Audit

This is where the real groundwork begins. Through careful review and analysis of your financial spending and business operations, multiple cost savings will be identified. We'll audit everything you've engaged us to look at; every cost related to People, IT, Services and Management processes. Our emphasis is to reduce costs in areas that do not produce a sustained level of revenue. We will never reduce (or attempt to reduce) any cost that undermines your core business or affects the quality / reputation of your business (see our faqs).

- 40+ costs and business processes reviewed
- Thorough analysis over 4 cost categories
- Review of supply chain & procurement practices
- Formal interviews with key management
- Interviews with purchasing / buying personnel
- Review of all current suppliers & vendors
- Analsyis of spending vs revenue generation
- Benchmarking with industry & competitors
- Projection of total cost reduction over 2 years

Stage 2: Strategy Development

Cost reduction can only come about through a well researched and documented strategy. Many companies make the mistake of reducing costs without creating a sustainable plan, and later regret many cost reduction decisions. After completing our review process, we spend time on your overall strategy:
- Clear, practical and easy to implement strategy
- Purpose and objectives of cost reduction
- Advise which areas to focus cost reductions
- Timeline for cost reduction execution
- Specific roles for cost reduction execution
- Discussion & negotiations with suppliers
- Observation of workplace practices
- Further interviews with management & staff
- Optimisation strategy for supply chain 
- Threats to avoid in the reduction process
- Advise areas in which to focus spending  

Stage 3: Training for Strategy Implementation (for management)

With any strategy there are three options that can be adopted once a strategy is developed. The first is to hand the strategy over to the client and hope for the best, and the second is for the developer of the strategy (that would be us) to implement it themselves, by managing the entire process. In both cases the client is left in the dark, thus, we prefer a third option – training our clients to implement the strategy themselves, and provide support when required during the implementation process. Following the strategy development, we will spend time training your finance / management team on how to specifically implement the strategy and cover the following area:

- Understanding cost reduction process
- Creating an environment for cost reduction
- Speaking to your team about cost reduction
- Negotiating with suppliers and vendors
- How to source and manage the best suppliers
- How to overcome cost reduction challenges

Stage 4: Workplace Training & Mentoring (for staff, teams & management)

Staff development and training is critical to any successful cost reduction implementation and is generally required at all level of an organisation. People & management costs are best address through customised training, mentoring and coaching intitatives that target specific issues within an organisation. Some the areas we focus on include:

- Creating a work / life balance
- Creating a positive team environment
- Promoting a culture of workplace excellence
- Managing conflicts effectively
- Understanding emotions in the workplace
- How to coaching and mentoring teams (for management)

For more information regarding our 360 program please contact us directly and read our faqs