Our Goal
To maintain organizational costs within a specified budget and restrain expenditures to meet organizational or project targets. The M David Katz Company works with Stakeholders, Executives, Management, and Staff to keep operating costs as low as possible without jeopardizing outcomes.
Strategic Level
We work with Business Owners and Stakeholders to develop a clear budget and cost containment program that is capable of providing efficient ways for your organization to increase its profitability.
The Cost Containment Strategy begins with a period of comprehensive insight-gathering with the Business Owners and Stakeholders to:
- Analyze current spending in all departments
- Identify areas for cost savings
- Negotiate new or existing vendor contracts
Successful cost containment strategies may include:
- New Vendors and/or Partnering Organizations
- Employee Benefits Packages
- Communication Expenses
- Logistics
- Travel and/or Entertainment Expenses
- Office Supplies/Internal Spending
- Marketing and Sales Budgeting
- Operations Budgeting
Tactical Level
Once an elaborate budget and cost containment strategy has been developed, The M David Katz Company begins the process of controlling the expenses required to operate the organization and reviewing each department’s ability to perform within the new budgetary constraints.
We work with Department Heads to introduce the new budget, assess any immediate concerns, and review each manager’s accountability in sticking to the new spending limits.
The entire cost containment process is an important management function that helps keep costs down to only necessary and intended expenses, and when all departments abide by their new budgets, company financial targets can be satisfied.
Operational Level
Although Department Heads have been trained and know their department’s responsibilities surrounding the new budget, we work with Employees to ensure they understand their roles and responsibilities surrounding Company spending, expense reporting, reimbursements and more.
If at any point departments or employees are being stretched too thin, the cost containment strategy is reviewed and revised with the Business Owners and Stakeholders.
 |
 |
