Businesses looking to increase profitability look towards methods to control fixed and variable costs. Cost containment is the business practice of maintaining expense levels to prevent unnecessary spending or reducing expenses to improve profitability without long-term negative effect to the company. It’s the process of controlling the expenses required to operate an organization or perform a project within pre-planned budgetary constraints. The cost containment process is an important management function that helps keep costs down to only necessary and intended expenses in order to satisfy financial targets.
- Reduce direct and indirect costs and penalties due to poor data quality processes
- Cut printing and postage costs by limiting the marketing pieces mailed to a single household
- Limit the high cost of returned mail and packages with precise address cleansing
- Fight internet and credit card fraud costs with geographical identity procedures
- Decrease unfavorable customer experiences from inaccurate and impersonal offers
- Minimize lost sales due to undeliverable offers or promotions due to undelivered direct mail
- Reduce late payments for invoices and statements causing late fees and irritated customers.
of organizations are plagued by common data errors
of companies believe their bottom line is affected by inaccurate and incomplete contact data
of companies append enrichment data to their contact information