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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}}=== | ||