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An Idea A Day by David Thompson

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COST CUTTING

BE VIGILANT

Anne Hawkins

ALL EXPENDITURE SHOULD be authorised.

Don’t go over the top—convoluted authorisation procedures just tie up more of your time and money—but you do need to make sure there is a proper process for committing the company’s money.

But even if you do have authorisation procedures in place, some types of expenditure have a habit of finding their way round the system and catching you out.

The idea

Make sure you don’t end up paying for things you don’t want or didn’t have. Beware of:

Evergreens

These are those purchase agreements that automatically renew if you fail to take action. Companies rely on your disorganisation ...

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