Making money is what commercial business is all about. As science and technology advance, owners of companies take advantage of fresh ways to turn a profit and strengthen their bottom lines. For entrepreneurs and others who lead the way in the business community, one of the quickest tactics for boosting income is to reduce expenses. In a way, reducing spending as a way to increase profit is one of the oldest accounting tricks there is. The results are so consistent and predictable that the technique continues to attract followers year after year. In the transport sector, fleet managers use sophisticated solutions to keep costs as low as possible. Human Resources directors leverage the power of ATS (applicant tracking systems) to screen job candidates quickly and cheaply.
After the recent global health pandemic, thousands of businesses have discovered the money-saving benefits of telecommuting, allowing employees to work primarily from home. Managers in every industry are experimenting with part-time workers for specific, short-term tasks. For more than a decade, businesses around the world have learned how to cut costs by sharing office space with others. The following examples represent some of the most effective approaches corporations and small businesses use to minimize their expenses.
Fleet Management Programs
Transport companies leverage the unique power of fleet software solutions to keep fuel and operational costs low. Not only can fleet management systems optimize routes for lower fuel usage, but they also include high-efficiency tachograph management features that serve as centralized compliance units. Tachograph data can be downloaded anytime it’s needed and is available to supervisors in real-time as well. Other benefits of fleet programs include the ability of trainers to coach drivers on the road via dashcams and interactive communications devices. Likewise, the systems keep tabs on location, fuel efficiency, speed, driver rest periods, each truck’s maintenance needs, and road conditions.
Applicant Tracking in Human Resources
HR managers utilize ATS (applicant tracking software) to save time and find the best candidates for open positions. When it comes to hiring and recruitment, ATS is highly efficient and fair. The software can screen thousands of resumes in the time it takes a human to review just a few. There are fee-based and open-source ATS, which means companies of any size can take advantage of the benefits. The core feature of a typical ATS is the screening of applicant resumes based on factors like the type of experience they have, where they went to school, who their former employers were, specific skills, and more. Savvy applicants are now crafting their resumes to meet known ATS demands by including important keywords, tag phrases, and other ingredients to catch the attention of the software.
Shared Space
One of the most important trends in commercial real estate since 2010 has been the high demand for shared office space. Small and medium-sized entities can save significant amounts by signing co-use contracts in which they agree to use a designated office for a fixed number of hours per week. Common share arrangements give one tenant the right to use the office area for three days per week and the other occupant the right to use it on two weekdays, like Tuesdays and Thursdays, plus one weekend day.