cost saving

Definition

The amount of money saved as a result of changes to plans or policies that reduce the expense associated with a business activity. Cost saving may also refer to the changes that generated the savings recorded. Identifying cost saving opportunities can help a business to increase profits, by reducing outflows.

Use cost saving in a sentence

Our cost saving strategy was going very well and we were all very happy with how much money we would be saving.

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You should try and figure out any way to get as much cost saving as you can so that you know you are working efficiently.

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The cost saving activities of the employee was effective as he demonstrated his cash management strategies that proved effective for us.

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