We are a specialist division within HLB Hodgson Impey Cheng, a firm of Chartered Accountants and Certified Public Accountants, with a history of over 60 years in Hong Kong. We specialise in all aspects of cost control and cost reduction, reorganisation, and reconstruction. We have experience across a broad range of industries. Our mission is to enable companies maintain sound financial health.
Our association with HLB International, a world-wide organisation of accounting firms and business advisers, provides global access to first class expertise. Our clients are both local and worldwide, and our offices are staffed by experienced people in this field.
What we offer
An outsider often can spot a problem which those within the organisation cannot - usually because they have lived with it for so long, or it grew up so slowly - that it becomes taken for granted. A trained outsider, especially, knows exactly what sort of thing to look for, and to suggest a remedy.
We do not instruct you on what to do. We identify the problems, and we make suggestions. Wherever possible we offer alternative suggestions.
How our services benefit you
Many companies think of controlling their costs only when times are difficult or, worse, when a crisis strikes. Our experience is that the exercise is best conducted BEFORE that occurs. Two things are always true: one, that there is ALWAYS room for some saving in costs and two, that having a plan prepared in advance makes the response to a crisis far more effective and a lot faster.
What we do
Controlling costs should be a continuous process, not something undertaken only at times of a turndown in business - and often in panic - the worst possible combination. So,no matter what the general economic climate, NOW is a very good time to examine your cost levels and get them under control.
We might question the way something is done ("It's always been done that way"); or staffing levels ("We have to keep three people there to cope with the lunch hour rush"); or the variety of samples ("The customer always chooses from just two or three, but they like the idea that we have a huge range") .
You know your business, and we wouldn't dare tell you how to run it. What we can do though is suggest possible alternatives. Sometimes the ideas we come up with are obvious: obvious, that is, after we've put them forward. Sometimes they are less obvious.
Of course, sometimes you may be doing something so absolutely right that we cannot suggest any improvement. Well, you probably are. But, are you doing it at every stage of your business? Can you say, for certain, what your overhead to net profit ratio is?
The answer is worth knowing because the figures work out like this:
Overhead to net profits ratio of
3:1
4:1
6:1
% increase in net profit from reducing overheads by:
-5%
15%
20%
30%
-10%
30%
40%
60%
-15%
45%
60%
90%
In other words, if you enjoy a ratio of 4:1, reducing your overhead costs by just 10% can lead to a 40% increase in net profit.
In practice, many firms operate on ratios nearer 9:1 or even 12:1.
Other services
As a division of HLB Hodgson Impey Cheng, and through our association with HLB International, we can offer a formidable range of additional professional services. (Please refer to accompanying brochures or our Web Site)
Contact
Raymond Cheng - Director
HLB Hodgson Impey Cheng Consultants Limited
31/F, Gloucester Tower, The Landmark, 11 Pedder Street, Central, Hong Kong SAR.
