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How Cost Reduction Professionals Can Help You

Cost reduction is what a business does when they are looking to better balance out their expenditure. By taking the time to identify opportunities to reduce the cost of the resources or products they are using, they allow themselves to have a chance to create a greater profit margin. There are a number of ways to perform cost reduction, but it all centers around spending less money in the production phase, while maintaining, or building more profit from the very same services. The larger the profit margin, the more money made. This can be done through investment, or material purchases, and is often a phase of product development from the start.

There is a huge difference between spending a dollar to make a dollar, and spending a dime to make a dollar. Even though your price is the same, by reducing your costs, you leave a larger amount of profit to rest in your hands. That is exactly what the process of cost reduction aims to do. Hopefully without sacrificing quality, reducing costs of production can lead to a much greater turn of profit, bettering your company's chance to invest in larger opportunities in the long run. There's not just one way to do this, so you'll need to have a multitude of ideas at how to attack your costs and whittle them down. That's why provides a lot of freelancers with a lot of ideas on how to make your business turn your efficiency into a profit machine. Use, name a price and experience level, and link up with a freelancer for-hire.

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Pay by Milestones

Milestones are like checkpoints you create to ensure you're happy with the work every step of the way. Build as many milestones into your job as you want — set a due date for each milestone and the amount to be paid.

Pay by Task

Pay for a single completed task, however big or small. Create and assign tasks for work as needed, and generate invoices from each task once they are completed.

Pay by the Hour

Track progress with ease and confidently pay freelancers by the hour. Use our TimeTracker software to see in the moment updates of work being done. Hiring multiple freelancers for your job? Stay organized with a breakdown of each freelancer's hourly rate and time tracked.

Pay Using Recurring Payments

Easily pay your go-to freelancers on an ongoing basis. Set up to four recurring payment rules for any given job — pay every week, every other week, every month, or every quarter. Stop or Resume payments at any point with just a click of a button.

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Sep. 2019

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