Wednesday, October 24, 2007

Overtime cost reduction - Day 4

We had a lot of overtime-doubletime. Both saturdays and sundays. We allowed the opportunity for employees to come in 2 hours early or stay back 2 hours. This is a win-win for employees and employer. The employer can avoid double time and the employee can avoid working on sunday. Try it out.

Tuesday, October 23, 2007

GST/PST verification and savings - Day 3

1. Verification of tax payments
2. Usually, rebates not claimed – such as purchase of non – taxable services,internet access,quality control testing,out of province usage, bar code labels, production consumables, flight bookings to Quebec, shop tools, repairs and maintenance, taxes and duties on certain membership fees etc
3. Consultant verifies all records
4. Files claims – simple only and none that are complex
5. Pay by results where the consultant gets paid only after you get the refund cheque or make an adjustment to current payment.
6. Usually he shares 30% on the refund
7. They may also find non- payment areas , that can be corrected avoiding interest and penalties later on

Saturday, October 20, 2007

Save on cell phone plans - Day 2

If you are paying /reimbursing for more than 5 cell phones - you need to get expeet help to reduce your cell phone bills. There are specialists who will monitor and move plans/minutes around and get you savings. They get paid as a share of your savings after you get your savings. This is agreat way to reduce your cell phone spend.If you need more information send an email to easwarcrown@yahoo.com

Sunday, October 14, 2007

76 Quick wins for Profit improvement - Day 1

Property tax
•Correct understanding assessment notices, tax bill information etc.
•Property in Ontario is supposed to be assessed based on “market value”estimate of your property at a specific date
•Whether you pay or reimburse your landlord, you need to get it checked
•Accurate classification ensures that you pay the correct taxes – nothing more
•Review accuracy of all assessment records, frozen rolls to date
•Review site specific details of size,type of construction,uses and other factors that affect market conditions
•Segregation of real, personal and intangible property values
•Identification of market conditions and inequities among comparable regional and provincial wide marketplaces.
•Review and assist in tax classification, preparation of rebates etc

Saturday, October 13, 2007

Profit Improvement Now

Businesses are innudated from all fronts. Competetion from China,Customers seeking cost reduction, inflation in commodities, taxes etc etc. To retain profitabilty and survive, a business needs to take action on various fronts to balance inflation andother threats with a systematic profit improvement plan.