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May 15
2010
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HOW IS YOUR BANK SAVING MONEY ON EVERYDAY OPERATIONS?Posted by Steve Cocheo in Pass the Aspirin The Blog   |
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The Headache: Beyond their own unique costs of doing business, banks remain subject to all the other costs any business faces, just to keep the doors open and the lights on.
Our Question: What steps is your bank taking to control everyday operational costs?
Heat, light, and maintenance—
handling the everyday costs banks
must face along with banking factors
Banks face plenty of special issues when it comes to making profits. Yet they also face most of the same expenses any other business on Main Street faces.
A sampling:
• Rising energy costs
• Employee health coverage
• Infrastructure, from making sure the lights stay on to keeping the roof leak-free to making sure the bathrooms keep working.
• Landscaping maintenance
• And more
Come tell us how your bank controls or cuts these
Let's hear your views and ideas below!
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To suggest new topics for Pass the Aspirin both in print and in this blog, please e-mail scocheo@sbpub.com
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Myon Rozell, president
said:
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Our most significant areas of savings are in marketing and charitable donations, and we?ve made cuts in other areas, too. Examples: ? We are still marketing, but ad sizes may be reduced, and sometimes we?ve cut frequency of advertising to reduce costs. ? Sponsorships are at a reduced level. ? Promotions are more directed, and less lavish?but hopefully more meaningful. ? Each area of supply has been more specifically reviewed for inventory levels, and we?re doing more price-shopping. One example: we went from using a postage meter to using stamps. ? We?ve grown more responsible on maintenance contracts?negotiating harder, exploring alternatives, and balancing remaining value in equipment versus contract coverage and cost. ? We?re still using part-time staff where necessary, but we?ve been limiting the number of hours. For instance, we try to cut back by a half-hour to an hour a day. ? We?ve also eliminated overtime for full-timers. |
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Charles Brown, chairman and CEO
said:
| We?ve been looking for cuts, and one that we?ve found is janitorial expenses. We?ve reduced our cleaning schedule to twice a week, and that?s saving some money. | |
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