What do we charge and How do we find savings?

Posted in Cost Detective, General by Marcus on November 27, 2013 No Comments yet

 

Cost Detective

 

Not surprisingly prospects ask us how we do what we do and what are the costs if they engage with us.

 

I thought it would be  worth writing a short blog, as our methods are transparent and  our costs are there for all to see.

 

Transparency!

 

After we have been appointed by a client the process usually runs like this;

 

1.  Meet with the boss for 45 minutes to understand the business and what its priorities are in terms of costs. Get introduced to finance team.

2.   Sit down with all the invoices etc for the last 12 months and gather information, just a desk and a photocopier/scanner are fine, no need for input from staff.

3.  Take the information away, get clarity from staff on a few items and then start reporting back savings that we have identified via email.

4. First savings are  usually identified  within 10 days, and once we have completed we will summarise all the savings in a nice short report.

5.  We will agree the savings with you the client.

6.  Done

 

How do we identify savings?  We take a 3 step approach  to each and every cost.

OK I could not find an image with 3 steps!

 

1.  Is that cost really necessary? Can we just get rid of it?

2.  How  can we get you to use less, to  be more efficient, whether that be energy or processes.

3.  Can we renegotiate with existing suppliers or suggest new ones?

 

Once we have applied these three questions to all costs we have always identified savings for every organisation we have worked for.

 

How much does all this cost?

It is very straight forward, remember number 5 in the process, We agree the savings with the client? Once those are agreed then our share of that is just 10%, so the client keeps 90% and does not pay any other fees. The 10% also only applies to the first 12 months worth of savings not for years to come like some of our competitors.

 

So there you have it the How and How Much questions answered.

By the way if you are a charity or know of one, we do not charge them even the 10%, so they get the service for free.

 

If you have any questions then just email me on Marcus@TheCostDetectives.co.uk

 

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How to save money with employee Benefits. Get them reviewed!

Posted in Cost Detective by Marcus on August 1, 2013 No Comments yet

How to save money with employee Benefits.  Get them reviewed!

In a major survey of employees , the overwhelming majority rank Private Medical Insurance as their second most important benefit after a company contributing pension scheme.

There are many schemes available; anything from basic cover to get your staff back to work quickly, to full cover, that attracts and retains the most skilled members of your workforce.

Other benefits like Gym Membership, Health and Wellbeing Programs and Employee Assistance Programs (EAP’s) can also be combined with your Medical Insurance to add value to your employee’s benefits package and help them keep fit and healthy.

You may have Private Medical Insurance cover but is it the most suitable or are you paying too much?

Auto Enrolment for pensions is already here and rolling out to EVERY company in the next few years..even if you have a pension scheme in force, you should take advice on its suitability and compliance with the new regulations, many do not comply.

Basic Life Insurance (Death in Service) and Income Protection are also valued benefits,  giving employees the peace of mind that if they get ill and can’t work, or the worst happens, there would be a safety net for them and their families. These schemes are cheaper thank you might think.

This is especially important if you are a smaller firm trying to attract personnel from the larger companies. Even as a one man band, you can still benefit from the tax efficient life insurance that’s paid for by your company.

Get in touch to cost save without removing the effectiveness of all your employee benefits, or if you have nothing in place yet and you know you should.

A big thanks you to Seth Thomas at Ample Financial Services for doing most of the work for this blog.

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Is your Electricity Supplier Ripping you off?

Is your Electricity Supplier ripping you off?

 

  • Did you know that electricity companies sign you up to a contract which can last up to three years?
  • If you do not give notice at the correct time then they will just roll you over onto a new one without telling you.
  • They will also increase the rate that you are paying, the result?

The result is that you end up being stuck in non competitive contracts for years on end.                            

                                                                                                                                                                                                              Not all Electricity is Good.

 

Recently a Recruitment Agency client of ours asked us to look at his Electricity bills,

we looked forward to comparing his rates to the myriad of suppliers that are now available.

[Did you know there are    now over 30 Gas and Electricity suppliers in the UK you should

be checking, don’t use the price comparison sites for your business, fine for your home].

 

Anyway back to the recruitment company, we checked to see when their contract was up

and found it was not for 3 years as he had just been rolled over , as a consequence they are

now paying over 30% too much as compared to the rates we could have got them.

 

 

Three Top Tips For saving money on your Electricity Bills.

1]    Check when your contract ends . [Or we can do it for you]

2]    Get the Cost Detectives to explore the market for you at no charge to find you the best rate.

3]    Turn stuff off when you are not using it!

 

Of course if you would like us to help you check your existing contract then just drop me a line to Marcus@TheCostDetectives.co.ukand we will do all we can to get those bills reduced.

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What a Care Home should know on a daily basis? What are your KPIs?

Posted in Finance Director, Systems Manager by Marcus on August 15, 2011 No Comments yet

What a Care Home should  know  on a daily basis!    What are your KPIs?

Businesses should have KPIs  they look at each day, each week, and month end.

If I was running a care home what would be 3 of my daily KPIs?

  1. Food waste, what was the weight of food I threw away today?
  2. Alarm activations, how many residents pressed their alarms today?
  3. Activity participation hours- you have 30 residents at 10 hours a day what % of the 300 hours was spent on activities?

Want to know why or do have others then email Marcus@PartTimeExperts.co.uk

 

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