We met with Tine for a chat about her passion for strategic cost reductions and how she makes an impact that matters for her clients.
- Why do you work with cost reduction and why are you fascinated about it?? “The primary reason for me working with cost reduction programs in the public sector, is to ensure that we all benefit from the most optimal allocation and use of tax money. For each of the projects that I’ve worked on, there has been an unrealized potential in efficiency, both in terms of operations and cost reductions and thus achieving more on each kroner spent. In particular, the project with the Royal Theatre was very interesting because we had the opportunity to analyze and optimize not just the cost side, but also the income generating activities. Most often, strategic cost reduction projects focus on the activities driving costs, so it was challenging and exciting to advice and optimize income generation.”
- What are the toughest challenges when you work with Cost Reduction Programs? “One of the key challenges in cost reduction programs, is to prioritize the client’s task and activities. This often involves scaling down or even eliminating some of the activities the client has done in the past and still deem important. This can be quite a barrier to overcome, but our role is to help the client identify how they can work smarter and at a lower cost, which entails ranking the client’s tasks and activities based on how much value or impact they drive. As part of this process, we work closely together with the client in order to establish these rankings. Based on the result we will then help them re-organize, re-plan, or leave some of the activities in order to get a more efficient process and ensure high and valuable impact of the tasks and activities undertaken.”
- How did your competencies add value for the Royal Theatre? “The cost reduction project for the Royal Theatre required us to collect large amounts of data for each of their business areas that we had to analyze. In order to enable any sort of strategic analysis and recommendation generation, the data required structuring and cleaning. With their expertise and data management skills, my team ensured a complete overview and understanding of the client’s activities and processes, which allowed us to apply the data to quantify the unrealized potentials. I believe that our ability to extract data from all areas of the business, deliver benchmarks, and create overview leaves the client with a far better understanding of their own activities and increased transparency on their cost drivers. In summary, we make the client better equipped for effective management and help them create value for customers and taxpayers!”