1550Finance and Accountancy Briefings

Finance and Accountancy Briefing

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Comprehensive Spending Review for the private sector - A guide to reducing the cost of business

Overview

Whatever the political motives behind their decisions, there can be no doubt that the process has been forensic and strategic, and no stone has been left unturned in the quest to identify and eliminate unnecessary cost.

Government departments are not businesses, of course, and the parameters within which they operate are completely different to those which you and I in the private sector would recognise.

However, the principles of strategic cost, purchase and supplier management remain the same for both and Sir Philip Green was right when he said that the majority of businesses would have collapsed under the sort of inefficiencies he discovered in his review of government spending.
With Deloitte’s third quarter survey of CFOs revealing an increasingly uncertain economic outlook and cost control identified as the over-riding priority for financial chiefs for the next 12 months, the time is surely right for those of us in the private sector to take a leaf out of the public sector’s book and conduct a Comprehensive Spending Review of our own.

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