Costedge
A newsletter for people interested in cost management.
Welcome to the inaugural edition of our Costedge, a monthly cost management newsletter!
As the new year unfolds, businesses in Australia often take the time to reflect on their mid-financial-year performance, preparing for critical decisions ahead.
Last year, we surveyed CFOs to determine their top concerns. While cybersecurity and AI led the list, cost management emerged as a significant focus, inspiring this newsletter for those interested in optimising indirect costs.
If your organisation is underperforming financially, scrutinising costs can quickly help improve the bottom line. While headcount, marketing, and travel often take priority, most other indirect costs are overlooked. These indirect costs offer substantial opportunities for savings. Currently, ERA Group covers upwards of 30 indirect cost categories.
At ERA Group, we’ve seen some remarkable results by tackling these “too hard” or “not strategic” areas of expenses. They really are a source of untapped potential.
In this first edition of Costedge, we touch on indirect expenses, offer some practical tips on cost management for 2025, and Nick Staropoli discusses ways to save on direct marketing.
We have opted on the side of brevity so as not to take up too much time. To read the articles, click on the images below, and they will take you to the full article.
The latest CPI numbers, which are due for release at the end of the month, are something to watch out for in the next few weeks.
To help make this a useful tool, we welcome your feedback and input on topics to address in future editions.
Feel free to share this newsletter with others who may benefit, and they can subscribe using the link at the end.
Here’s to smarter cost management and stronger financial performance for 2025!
Grant Morrow
Principal Consultant
+61 415 203 575
[email protected]
Articles
Something different...
Office Supply Heist: In 2012, a German city council employee was found to have hoarded over 20 tonnes of office supplies, including pens, post-it notes, and cleaning products; over 30 years, the stash was estimated to be worth six figures.
The Great Coffee Budget Cut: In an attempt to cut costs, a company switched to a cheaper brand of coffee. The result? A full-scale employee revolt, with workers bringing in their own coffee machines and forming a “coffee club” to protest the decision.
Virtual Meeting Mishap: A company tried to save money by switching to a free video-conferencing service. Unfortunately, the service had a time limit on meetings, which led to essential discussions being cut off mid-sentence and causing much laughter and frustration.
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