Reducing Cost and Improving Efficiency
Developing a cost reduction strategy whilst improving the efficiency of an IP practice or Corporate IP Division is a fine balance, especially if it is not to affect growth plans.
The initiative needs to be driven from the Business Strategy if it is to coherence and buy-in of the organization. The review should start with identifying core and non-core areas of the business. Core areas should be focused on and those that be run effectively should be improved or considered for outsourcing, particularly, if they can be run at lower cost elsewhere and the risk / quality equaled. This will release savings that can be reinvested into making the core business better.
Our experience of driving down costs effectively, improving profitability and minimising errors is to improve operational processes. Benchmarking the current working process against best market practice and implement refinements.
Improving efficiency beyond best market practice is where we excel, utilising technology and processes in unique and innovative ways, whether it be for patent preparation & prosecution, trademarks or litigation.