Insights from The Lab

Cost Cutting Opportunities in Intangible Assets

Today, the intangible assets of knowledge workers’ work methods represent the majority of business value.

Sadly, there is a ton of waste when it comes to addressing (or more accurately, overlooking) how knowledge workers perform their job activities.

In this article, we’re going to take a closer look at the often-overlooked intangible assets of the business, and how to unlock their hidden value while cutting costs.

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3 Valuable Corporate Cost Cutting Strategies & How to Apply Them

Vendors of digital technology still claim that their solutions will “gently force” knowledge workers to change their ways. But if that were truly the case, where are all the productivity gains and cost savings?

In this article, we’re going to help you overcome three major roadblocks that stubbornly stand in the way of using IT capabilities to achieve cost cutting in business operations.

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Cost Reduction by Eliminating “Junky Speaker Wire”

Home-theater enthusiasts quickly learn a painful lesson. Their precious, expensive gear is only as good as its weakest link. Using “junky speaker wire” undermines the performance of their investment in premium speakers and amplifiers.

Today’s executives should learn from these audiophiles. Currently they under-invest in critical connections. Businesses buy expensive technology for core business operations and high-stakes risk-management requirements. But they skimp on makeshift, inefficient processes to connect these costly “components” to employees, data, customers and regulators. The result is the operations equivalent of “degraded audio”: degraded business value.

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Cutting Costs in the Fortune 500 – A True Story

This is the story of Michel, the European-based CFO of a global tire manufacturer. He’s also a staunch advocate of cost-cutting strategies that rely on standardizing knowledge work. But that’s getting ahead of the plot.

When our tale began, Michel had flown across the pond to visit Pete, his head of manufacturing for The Americas operations. Over lunch, the topic of audits arose.

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Improvements from Start-to-Finish

Since opening its doors in 1993, The Lab has helped some of the best companies in the world become even better.