Many businesses can run out of cash quickly after launching or experiencing a period of growth, and they will need to find creative ways to cut down on costs. Although there are a variety of overhead expenses that can’t be altered, the cost of running your office does not need to be one of them.
Successful businesses have turned to office alternatives, such as free office software, shared office spaces, and internet phone services to reduce costs. All businesses can use these options to immediately cut down on their office management expenses.
1. Free Office Software
Google offers a variety of free office software applications through its free storage service, Google Drive. Anyone with a Gmail account automatically gets 15GB of free usage on a variety of online software, including documents, presentation slides, spreadsheets, etc. There are incredible deals on file storage for easy sharing of documents as well:
- Dropbox charges $100/month
- Microsoft Office charges $25/year for 25GB of storage
- Google Drive comes out on top of the pack at $10/month for a terabyte of storage
With low prices and integration with other online business systems, this is an incredibly simple way for businesses to save a chunk of cash.
2. Shared Offices
With a high demand for office spaces, there are various companies offering options for flexible workspaces. Small businesses looking to share workspaces with like-minded businesses can use PivotDesk. PivotDesk matches companies to share their office space, and includes tools like payment processing and collaboration to support the ongoing relationship. Besides cutting your lease or rent cost by up to half, PivotDesk's matchmaking ensures that your space is being shared with a company with which you feel comfortable with.
Regus Canada provides similar services, and helps small businesses lease individual or shared offices, or short term meeting rooms. Regus boasts a wide global presence, spanning over 3000 cities, in over 120 countries. With their all-inclusive office packages, time is saved in finding a space, setting up internet, and hooking up phone lines. You also have access to receptionists, conference rooms, kitchens, and IT support. For new businesses with a limited budget, these companies offer great ways to get small and affordable office spaces.
RELATED: How to Stop Cash Flow Problems
3. Going Digital
Most small businesses are cutting down on extra expenses by relying on digital documents rather than paper copies. Digital documents are easier to store and send, more searchable, more versatile, and most importantly, cheaper to use. The cost that comes with distributing hard copies is extensive; printers, ink, toners, servicing, connectivity, and repairs add up over time. Since most documents are initially created electronically, it makes sense to get an inexpensive printer with limited paper and ink, or better yet, a shared printer. Sharing printer, fax, and copy machine costs between neighboring offices are other great options to save office management costs.
4. Cutting Standard Phone Systems
New businesses can save time and money by using Voice Over IP (VOIP) phone services, instead of installing a phone system. As long as you have an internet connection in your office, you can reduce or even eliminate your costs for telephone services. GetVOip is a cloud communcation advisor that displays the top ten business VOIP providers each year. They feature small business providers that offer custom packages for any budget with dedicated support reps and competitive pricing. These services not only let you manage phone calls through the internet, but also provide forwarding, conferencing, and messaging. This means potentially saving the cost of a receptionist, and on individual landlines and phone hardware for all employees.
Importance of Reducing Office Costs
Office management costs are no longer hard costs that cannot be reduced, but a great place to start in making your business a lean running machine; ready to weather those inevitable cash flow gaps. Not only will these office cost-saving tips help you reduce expenses, but also positions your business for greater flexibility and options as it expands and evolves.