Date Added: Sep 2009
The global recession of the last twelve months has reinforced the need for businesses to be in a strong financial position at all times. This, coupled with the desire of corporate boards and investors for higher profit margins has led to increased pressure on companies to maximize their earning potential. A solution for many organizations is simply to increase turnover; however in the volatile markets of today, this is not always possible. An alternative way of increasing bottom line earnings is by cutting costs and increasing corporate efficiency.