Keep On Top Of Your Cost Base

More than ever, cost control is super important to ensure you are not unnecessarily spending in areas you don’t need to when costs are still increasing across the board.????????

Here are 3 things you can apply to your organisation to keep costs under control:

1?????Analyse your current and budgeted costs.

Identify areas where costs can be reduced or eliminated without compromising the quality of your output.?? Prioritise costs based on your organisation’s goals, do they help you meet your future targets?? “Trim the fat” and remove or reduce any excess costs that do not contribute to your output.

2?????Optimise resource allocation.

Move funds to areas and departments where they will achieve the maximum impact. Look for opportunities to consolidate resources.

3?????Streamline processes and lean on tech.?

Free up resource by enhancing and streamlining your internal processes using technology to help.? Where your staff are a fixed cost, this can improve efficiency to allocate more time on core output.

News

The Charity Commission recently published its new five-year strategy, setting out their five key areas of focus, with an ambition to be an expert commission that is fair, balanced and independent to enable charities to thrive.

Their key commitments are:

1. We will be fair and proportionate in our work and clear about our role.

2. We will support charities to get it right but take robust action where we see

wrong doing and harm.

3. We will speak with authority and credibility, free from the influence of others.

4. We will embrace technological innovation and strengthen how we use our data.

5. We will be the expert commission - where our people are empowered and enabled to deliver excellence in regulation.

The full strategy can be viewed here

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Get in touch ...

I have worked in the charity and not-for-profit sector for over 17 years helping CEOs and their teams with financial and operational strategy and management. If you would like to see how working together can relieve some of the strain of leading a charity, DM me with the word “CHARITY” to book a free, no obligation 15-minute chat. Alternatively you can reach me via the following contact details:

??07767 706216 or ?? [email protected]