money

3 Strategic Ways to Minimise Business Costs in 2022

Priyanka Raj

Priyanka Raj

2021-12-02

Ever since the COVID-19 pandemic arose, cost reduction has played a critical to help businesses keep afloat during trying times. Through this incident, there are a lot of things that we can reduce or cut down on when operating our business (big or small) as every penny counts. There’s definitely a myriad of things we can look into to trim business expenses without causing any major disruption.

Let’s take a look!

Look Towards the Cloud

⁠Whether you're running a big or small firm, as your business expands, it's always a practical choice to look towards the clouds to streamline business operations and increase savings.

While it might seem costly to set up initially, adopting a cloud database will bring more benefits in the long run. Not only will you save more on server maintenance and upgrade costs, but the data is also stored securely, recoverable if anything goes wrong.

You also have access to the data from anywhere, making it a breeze to work remotely, share, and collaborate with your team wherever you go.

Reduce Office Expenditures 

There's no doubt that our typical office 9-to-5-day has evolved drastically over last year.

With hybrid and remote work adoption, businesses no longer need a grand HQ when employees and almost all operations can run smoothly from home.

It's not to say that having an office is no longer necessary, as an office allows human interactions and in-person collaboration that cannot be translated virtually.

However, to minimise costs while maintaining a collaborating "space", you might want to consider downsizing to a smaller location or switching to a coworking space that offers flexible terms.

Make your vehicles work for you

If you have underutilised vehicles, sitting idle and eating away at your monthly budgets on loan payments & maintenance, consider Becoming A Commercial Host with Flux.

You can better manage your cash flow by subscribing out your idle fleet and receiving a monthly income. It's completely FREE, and you might be able to start earning within 48 hours.

Expand your fleet with no downpayment

Instead of coughing up a huge downpayment to scale your fleet, consider subscribing to Flux Business.

A Flux Business Subscription is designed to save you time and money. There's no downpayment and no deposit required, which means you can invest cash flow towards other avenues for growth.

Flux also handles all administration works, including maintenance, finance and document renewals, so you don't need to hire someone else. Now that's cost savings!

In addition, businesses can customise the subscription add-ons based on needs and budget. Last but not least, Flux is an LHDN approved tax-deductible expense, which can help you unlock up to 56% in tax savings.

Ready to save money for your business? Visit the Flux Business Class site, to get a quote or reach out to us at support@driveflux.com

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