9 May 2022   |   09:13

Slashing operating costs


We’re all working in challenging economic times, no matter our industry. Market growth is often unpredictable, the battle for new business is fiercer than ever, and consumers are being careful with their spending. All-in-all, it’s a tough time to be in business.

 

It’s times like this where we should all be looking inward and seeking to cut operating costs wherever we can, without sacrificing our quality and ability to do business. There are savings to be made all around us if we begin to think out of the box.

 

Here are a few ways that you can drive down your costs without impacting your performance or offerings.

 

Automate time-consuming tasks

Admin is a necessary evil. Let’s get that out of the way right now. It stops you from making money, but it’s absolutely vital.

 

So, how do we reduce the time spent on chasing clients for information, or sending out updates or marketing material?

 

Automation.

 

Our CRM allows you to automate a wide range of admin and marketing functions, allowing your staff to work on growing your business and helping clients. Take the time you save through automation and apply it to other business functions. Not only will you be making more money, you’ll also be relieving your back office staff from a burden they no doubt hate.

 

FX Back Office allows you to customize a series of tasks, ranging from automatically notifying clients when their vital documents are expiring, to assisting in the sending of bulk marketing emails. We can also tell you when a client needs a call back, or a new client registers, allowing you to work safe in the knowledge that you’re not missing vital interactions.

 

The end result is more time in which to grow your business. All as a result of a few simple steps.

 

Avoid in-house development

In-house development can easily become a bottomless pit that consumes time and money with no guarantee of a good outcome.

 

We’re experts in our field and our forex CRM is a pioneering piece of software that’s taking the industry by storm. Our developers are experienced at building CRMs and have leveraged their expertise in order to create a world-class system.

 

Why spend time and money developing a system when our experts have already done so?

 

Our team built FX Back Office to be entirely customizable, allowing you to ‘build’ the system you need. We can work with you to give you the tools you want, and cut out those you don’t, to leave you with a responsive, bespoke system that does exactly what you need it to. If you need to expand it later on, we can do that, too.

 

Our CRM also integrates with leading third-party software to allow you to leverage the capabilities of a wide range of programs from within the CRM, saving you time and money once again.

 

Whatever it is you need, we can design it together. The chances are, we’ve already done so.

 

Cut out unnecessary services and subscriptions

Do an audit of every service or subscription you’re signed up to and cut what you don’t need.

 

All too often, we sign up to services that we quickly move on from, or that get forgotten and then lost in accounting. These might range from membership of professional associations, to subscriptions for software we no longer use. Going though our outgoings with a fine-toothed comb can help discover products that we no longer value, allowing us to cut them out and save costs.

 

The same is true for the software we use to do our jobs. Our Forex CRM is a powerful, customizable service that handles everything from back office admin to trades, from client KYC and documents to sending out client emails, and more. All this can help you reduce the number of systems you’re using on a daily basis. Our CRM also allows you to integrate third-party software, and, combined with its own features, our comprehensive package will allow you to cut out excess programs, thereby saving money.

 

It’s all about streamlining. Look at what you need, not at what you might need, or what you thought you needed and instead, use one system that can do it all.

 

Go paperless

Paper, ink and many traditional office supplies can end up costing a fortune. Added to that, the environmental impact on paper offices is considerable.

 

The solution is staring you right in the face. Go paperless.

 

We’re not suggesting that you entirely ditch your Post-It Notes, but rather that you produce all your reports electronically, and read and present your data on your PC or tablet. Doing so will not only save you money and help the environment, but it will also dramatically reduce clutter and the need for storage space within your offices – or your home if you’re remote working.

 

Once you commit to going paperless you can truly leverage the reporting powers of our Forex CRM. Data is absolutely precious and we can create custom reports for just about anything you might need. Sticking to digital reports and presentations streamlines your processes even further, helping you not only drill down to what’s important, but also to save time and money.

 

Costs are everywhere, but it’s not difficult to begin cutting into them. We’re committed to streamlining and simplifying the forex industry and we believe that we offer a product that can help you save on costs in a number of ways.

 

Get in touchtoday and start reducing waste and excess costs.