Grant Money Available for Recycling in Indiana
If your business is considering steps to “going green,” grant money is available. The Indiana Department of Environmental Management’s Recycling Market Development Program is designed to aid private businesses in purchasing equipment needed specifically to remanufacture recyclable materials into finished products or industrial feedstocks. The grants range from $25,000 up to $200,000 with a required 50 percent match. […]
When You Don’t Know What You Don’t Know
Ideally, the title to this article caused you to pause and consider the concept. What happens when you don’t know what you don’t know? Most companies feel secure in what they’re paying for products and services when, in reality, what they’re paying is likely well above market price. Helping companies better understand this is the […]
Vendor Purchasing Agreements: Who’s Complying?
Most organizations have vendor purchasing agreements, an agreement that notes how much you pay based upon the purchase volume. During the course of our ongoing work for a client, we recently discovered an issue (error) with the vendor complying with purchasing agreement terms. In this case, we were auditing for compliance with carrier usage on the transportation side. Over the course of our […]
Packaging Costs: Finding Big Money in Small Changes
If your company is involved in manufacturing, most likely you are involved in packaging. The cost impact of your packaging is reflected on many lines of your financials. Two large impact areas include: Material Specs – This is the most fundamental part of the process. The materials must meet your needs in order to protect your product as well […]
Management or Leadership: Which Best Describes Your Actions?
While reading an article on the difference between management and leadership in The Wall Street Journal, I spent some time reflecting on the point the author was making: In today’s economy, the line between management and leadership is blurred. “In the new economy, where value comes increasingly from the knowledge of people, and where workers are no longer […]
Workers’ Compensation: Making that Premium a Little Less Painful
Understanding workers’ compensation insurance is daunting to say the least. Many components of this calculation can impact the rate you pay. Some of these components are: Remuneration – The rate per hundred dollars of remuneration (most often payroll) Classifications – Each classification applies to rate per hundred based on the varying exposure to injury. For example, the roofer is more likely to be exposed to injury compared […]
How Building Occupancy Impacts Your Lease Rates
Commercial real estate leases are complex to say the least. Many times, up to 70% of the lease cost is wrapped up in the tenant’s obligation to share in the building operating costs, including taxes and utilities. As a tenant, you might suffer from time poverty and/or lack a thorough understanding of how these costs are calculated, which can […]
Credit Card Processing Fees: Helping Your Processing Statement with a Little More Green!
“The creditor hath a better memory than the debtor.” – James Howell According to the American Bankers Association, credit cards are responsible for more than $2.5 trillion in transactions a year and are accepted at more than 24 million locations in more than 200 countries and territories. Your business likely processed your fair share of that $2.5 […]
Growing Revenue vs. Reducing Expenses
We recently had an inquiry on our position that most times reducing expenses is a much quicker improvement to the bottom line compared to growing sales. In reflecting upon this, let me share with you this example: Currently w/ Expense Reduction w/ Additional Rev Revenue $100,000 $100,000 $140,000 Expense Reduction % 0% 20% 0% Operating Margin % 10% 10% […]
Contract Compliance: Driving Sustainable Cost Reductions
In today’s economic times, driving sustainable cost reductions is just one of many challenges, and driving them through contract compliance is sometimes an overlooked opportunity. Nearly every organization has experienced “creep.” That is my term for what happens to the savings a vendor promises that never materializes. Some might call it savings leakage or deliberate contract manipulation. However you describe it, […]