Costs and Sectors : Charities
Top Tips for Charities
Charities and third sector are heavy users of stationery and big savings can be quickly indentified.
Currency exchange is a big issue for the sector. With the increase in money laundering organisations need help with the transfer of funds. There are more effective ways to transfer money.
Office Equipment and IT
The sector often suffers from outdated office equipment and IT. Investment in new equipment can provide a good return through increased efficiencies and productivity.
Multi-site Retail Outlets
Multi-site Charity Retail Outlets can benefit from consolidated accounts rather than individual accounts. Electricity is a good example.
Efficiencies vs Redundancies
Reducing the size of the workforce should be the last resort. The first course of action should always be to look under the bonnet of an organisation to see where costs can be lowered and efficiencies made.
Essential business services are costing charities in the UK hundreds of millions annually and with this figure increasing every year.
Savings of 20%+ on utilities and energy
Premises-related costs, fixed and mobile communications, IT, utilities and finance such as insurance and banking charges are just a selection of essential overheads. It is not uncommon to identify typical savings in the region of 20% for utilities and energy.
An ongoing activity
The key to maintaining best value purchasing and supplier management is to be consistent. It’s not just a one-off exercise and should be considered as an ongoing cost management to realise maximum benefits.