Cost cutting is a scary subject for employees. When mentioned they think they are targeted personally. In this course, we will explore all the different strategies for the organization to reduce its costs. Cost reduction is not only about laying off employees! Cost reduction is about increasing productivity first, then cutting costs everywhere in the organization. So, let us explore together "Innovative Cost Savings Strategies" to save our organizations unnecessary costs and then move forward. The course will also cover the time value of money and the difference between cash and income. These two topics are important for managers and employees who do not have accounting backgrounds.

The course is based mostly on sharing real examples of what an organization can do to save costs.  This interactive course will include presentations by the consultant as well as individual and group exercises and workshops.

By the end of the course, participants will be able to:

• Identify how costs affect both cash and accrual basis income
• Analyse HR costs and find ways to decrease them before firing employees
• Research and advise on cost cutting in the different departments
• Suggest and implement industry related cost saving strategies and techniques
• Find new ways of doing business that can save hidden costs

Financial managers or directors, accountants, financial assistants, budget accountants, analysts, budget and planning managers and coordinators, operations managers, HR managers, facilities managers and professionals interested in cost savings.

•  Analyse costs
• Assess value adding costs 
• Decrease costs
• Cut costs
• Advise to buy or lease
• Evaluate performance