What comes first to your mind in crisis time, when your revenues are decreasing or run the risk of being limited?

Surely – cost cutting and optimization. When you have a stable or growing income, it’s rare to think about cost cutting or optimization, but once your revenue decreases, or uncertainty about the future grows, you start to contemplate cutting your expenses to overcome the difficult period of time.

The same is relevant for businesses as well, but is cost cutting an easy task to complete? How to tackle cost optimization, in order do not harm the capacity of revenue generation in the future?

Grant Thornton experts suggest ideas on what to consider regarding cost cutting in a difficult time for the business and what is important for implementing effective cost optimization.