Cost reduction: Difference between revisions
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Amwelladmin (talk | contribs) Created page with "{{wasteprov|Cost}}s may arise largely as follows: ==={{wasteprov|Personnel}}=== {{wasteprov|Personnel}} from Sales, KYC, Onboarding, Credit, Trading, Tax..." |
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{{wasteprov|Cost}}s may arise largely as follows: | {{a|negotiation|}}{{wasteprov|Cost}}s may arise largely as follows: | ||
==={{wasteprov|Personnel}}=== | ==={{wasteprov|Personnel}}=== | ||
{{wasteprov|Personnel}} from [[Sales]], [[KYC]], [[Onboarding]], [[Credit]], [[Trading]], [[Tax]], [[Legal]]/[[Negotiation]], [[Operations]]. | {{wasteprov|Personnel}} from [[Sales]], [[KYC]], [[Onboarding]], [[Credit]], [[Trading]], [[Tax]], [[Legal]]/[[Negotiation]], [[Operations]]. Costs include hidden costs like pension, redundancy expenses, national insurance and so on. All other things being equal, you can address these costs as follows: | ||
**{{wasteprov|Downgrading}}: | **{{wasteprov|Downgrading}}: Reallocate work from more expensive units to cheaper ones. So, the negotiation process moves from [[legal]] to the [[documentation unit]], to [[operations]]. | ||
**{{wasteprov|Relocation}}: move work to a lower cost jurisdiction where a like-for-like personnel are cheaper: moving document management from London to Birmingham, Belfast, Madrid, Krakow, Cape Town or Bangalore. | **{{wasteprov|Relocation}}: move work to a lower cost jurisdiction where a like-for-like personnel are cheaper: moving document management from London to Birmingham, Belfast, Madrid, Krakow, Cape Town or Bangalore. | ||
**{{wasteprov|Outsourcing}}: Contract work out to third party service providers who may manage their own resources in | **{{wasteprov|Outsourcing}}: Contract work out to third party service providers who may manage their own resources in lowe rcost jurisdictions, but in any case can be switched on and off easily | ||
==={{wasteprov|Real estate}}=== | ==={{wasteprov|Real estate}}=== | ||
A square foot of office space in Bangalore is 75% chearper than one in London. So - if you have to have a personnel-heavy process then , {{wasteprov|all other things being equal}}, it makes sense to move it. | |||
==={{wasteprov|Systems}}=== | ==={{wasteprov|Systems}}=== | ||
==={{wasteprov|Consumables}}=== | ==={{wasteprov|Consumables}}=== | ||
Revision as of 14:35, 4 June 2019
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Negotiation Anatomy™
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Costs may arise largely as follows:
Personnel
Personnel from Sales, KYC, Onboarding, Credit, Trading, Tax, Legal/Negotiation, Operations. Costs include hidden costs like pension, redundancy expenses, national insurance and so on. All other things being equal, you can address these costs as follows:
- Downgrading: Reallocate work from more expensive units to cheaper ones. So, the negotiation process moves from legal to the documentation unit, to operations.
- Relocation: move work to a lower cost jurisdiction where a like-for-like personnel are cheaper: moving document management from London to Birmingham, Belfast, Madrid, Krakow, Cape Town or Bangalore.
- Outsourcing: Contract work out to third party service providers who may manage their own resources in lowe rcost jurisdictions, but in any case can be switched on and off easily
Real estate
A square foot of office space in Bangalore is 75% chearper than one in London. So - if you have to have a personnel-heavy process then , all other things being equal, it makes sense to move it.