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Russian Cos. Could Save Money
Midsize Russian businesses have significant reserves for economizing, concludes a Baker Tilly Rusaudit report on cost management in that sector. The company surveyed companies with receipts of more than $50 million that operate in more than five regions of the country. All of the companies had planned expenses, but only 43 percent of them considered macroeconomic forecasts and 30 percent took state policy into account.
The spending patterns of past years are an important indicator for midsize Russian business. Every fourth company uses those data alone when planning its expenses. Just 17 percent of companies use four or five types of data. Twenty-one percent, including half of manufacturers, consider energy consumption for production. The authors of the report consider it alarming that, with energy prices rising rapidly, Russian business is still ignoring energy conservation. Only half of respondents thought about it.
Servicing foreign debt was not an important consideration for half of the respondents. The “debt/receipts” indicator was not used by 43 percent of respondents when analyzing the effectiveness of their businesses. Comparatively few Russian companies pay attention to personnel costs; 23 percent do not look at the productivity of labor, and only 8 percent lay off personnel by plan to cut costs. More than half of respondents do not consider personnel cuts at all.
www.kommersant.com
All the Article in Russian as of July 18, 2008
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Photo: Nikolay Cyiganov
