Category: Business

Three Things That Reduce Business Operating Costs

 

Operating Costs
Image: investopedia.com

Connecticut-based executive Mark Barra serves as the managing director of Global Financial Consulting, LLC. Possessing nearly three decades of experience, he has led various organizations through periods of growth, revitalization, and change. During this time, Mark Barra has helped businesses save upwards of $1 million a year by restructuring their operations.

One of the best ways businesses can save money without negatively impacting customers or staff salaries is by reducing operational costs. There are several ways companies can lower their operational costs:

Automate Business Functions
Thanks to regular technological advancements, businesses are capable of automating more and more business functions. By automating different functions, they can reduce the amount of time employees must spend on certain tasks, thus helping them become more efficient. Automation also reduces human error.

Buy Things in Bulk
Usually, the amount of products that businesses purchase will only increase in the future. Because of this, there isn’t really a downside to buying in bulk. Not only will this ensure companies have the things they need to continue operating, but it also helps them make purchases at lower prices, and usually with a bulk-buying discount applied to the final order.

Outsource Secondary Functions
In the long run, hiring a different business or consultant to perform certain business tasks saves companies money. Rather than hiring a full-time, in-house staff member, companies can instead seek part-time or hourly rated workers to complete technology-based tasks or functions related to communications or marketing.

Interferry Conference Promotes Collaboration Among Ferry Professionals

Mark Barra pic
Mark Barra

A successful executive with more than 30 years of experience in domestic and international banking and business, Mark Barra leads Global Financial Consulting, LLC, as managing director. Beyond that, he owns two family entertainment centers in Connecticut. Active in the professional community, Mark Barra attends the Interferry Conference every year.

A membership organization representing the international ferry industry, Interferry supports the safety of ships and cargo, fair shipping regulations, open competition, and environmental protection. The organization also facilitates cooperation among members of the industry through its annual conference.

For more than four decades, Interferry has been hosting its annual conference. This event is open to everyone, but it predominantly attracts current Interferry members. By attending the event, professionals not only gain first-hand experience with the organization, they also receive opportunities to meet with colleagues from around the world and learn about what’s new in the industry.

Since its first year, the Interferry Conference has been held in a variety of locations. These include Seattle, Hong Kong, Vancouver, Sydney, and London. The global nature of these conferences helps professionals from around the world stay active in the organization regardless of where their base of operations is. Alongside this global variation, Interferry Conferences also feature a range of themes, such as innovation.

Interferry has scheduled is 45th Annual Conference for October 24 to 28, 2020. It will be held at the Grand Chancellor Hobart hotel in Hobart, Australia.