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EVENING
STANDARD 
MONDAY, 29 APRIL, 1996
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Financial and
Legal Service Feature on page 37 of the Directory of Members 1997.
"This article was
written with the co-operation of: Chantrey Vellacott, a top 20 firm of Chartered
Accountants. Eversheds, a city and national law firm. Cost Reduction Services
Limited, a cost management consultancy."
"Meet
the professionals - getting the best advice for your business. In this article,
we look at the professional services available which can help you make a crucial
difference to your business's fortunes. Reducing everyday costs is a constant
battle for businesses large and small. Whilst the cost of rent, salaries and
office equipment may occupy the mind of nearly every manager and finance
officer, the amount paid for telephone, electricity, gas and water often goes
unquestioned."
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"In
times of belt-tightening, other overheads, including staff costs, are more often
candidates for attention than utility bills. Reducing the costs of these can be
a significant and painless source of saving. However, many firms seem to be
still pouring money down the drain - literally! Paul Fisher, Managing Director
of Cost Reduction Services, a Putney-based consultancy specialising in utility
cost management, estimated over 80 per cent of firms pay more than they should
on these basic services."
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"It
is ironic that companies seek the keenest price possible from other suppliers
and yet do not consider that they could be paying less on telephone, water,
electricity and gas bills. This is partly because they are not aware of the
potential savings made available by recent market changes, new technology and
new sources of supply."
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"Many
companies don't have the skills, resources or knowledge and above all, the time
to undertake such an audit. Effective utility management depends on the ability
to identify, interpret, and handle technical data combined with market knowledge
in terms of prices, suppliers and available contract terms. With over 70 gas
suppliers in the UK, it is impossible for a customer to keep track of prices.
This means that firms never know if they are being charged the right price or
where to go for a more competitive price. "
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"By
getting professional help, significant savings can be made with no reduction in
the quality of service. All of this helps a company's cashflow and
profitability. The service offered by CRS
work is
primarily based on results i.e. 'No Savings - No Fee'. On signing an agreement, CRS
will review all telephone and utility bills of the company and where savings are
identified and implemented, share equally in those savings with the client."
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"CRS
works with a wide variety of businesses and regularly achieves savings of
between 20-30 per cent for them. It was recently able to reduce the gas bill of
one London restaurant by over 40 per cent or nearly £1,300. It also helped a
firm of solicitors reduce their water bill by 30 per cent."
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"A
little time spent on this can stop a company literally pouring money down the
drain! By turning to experts such as ourselves, companies can achieve real and
lasting savings. Utility management is something no profit-minded business can
afford to ignore."
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Cost
Reduction Services Ltd - Home Page
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