Running a small or medium company in Australia today is like braving a tempest—heightened inflation, supply chain hurdles, and buyers cracking under pressure.
It’s 2025, and SMEs have to trim the fat to survive, but how do you get started? We’ve assembled an expert panel of business gurus to analyze the most shrewd cost-savings measures, from technology boosters to battles with suppliers. Here’s how to keep your bottom line healthy without compromising what makes your business tick.
Cash flow is a beast when you have no idea where it’s going. Fabian Calle, Managing Director of Small and Medium Business at SAP Concur ANZ, sums it up well: “Small- to medium-sized businesses (SMBs) realize the importance of finding ways to reduce costs and get ahead of the game.”. Every spend is a chance to (re)invest in their business; but it also carries risks. His answer is tech tracking every dollar. “With smart controls in place, SMBs can prevent overspending and decrease the risk of mistakes and fraud. Leveraging technology that automates financial processes and operations enhances visibility and provides near-real-time visibility into spend.”.
Will Buckley, Country Manager Australia at Xero, adds weight to this: “We know that cash flow is a big business pressure. If you don’t have good visibility into the financial state of your business, it’s extremely difficult to know where you can cut costs.” He suggests cloud accounting for real-time figures and pairing this with an advisor to spot savings—like EOFY tax relief. Automation is no fad; it’s an SME lifesaver from drowning in manual reconciliations.
Tech that pay for itself
Technology is not merely about transparency—it’s about effectiveness. Greg Newham, Verizon Connect’s APAC Associate Director, sees it in fleets: “As inflation rises to increase operating costs, Australian and New Zealand businesses are having a very close look at efficiency and productivity – one of the methods to achieve that is using fleet technologies for those businesses with vehicle fleets. Installing in-cab video technology reduced accident expenditure by 57 per cent and insurance expenditure by 44 per cent.” In SMEs’ delivery vans, telematics can eliminate fuel wastage and claim tax deductions—key achievements for small budgets.
Anthony Spiteri, Veeam’s Regional CTO APJ, doubles down on strategic tech: “In order to identify cost saving opportunities, firms need to carry out a detailed analysis of existing spending on technology product and solutions systems.” He points to cybersecurity and data protection as essentials—downtime’s a killer, but savvy investments make ops easier and pay off in the long term. Tech’s an initial blow, but the return’s worth it.
Supplier smarts and negotiation
Your suppliers are not your enemy—they’re your negotiating leverage. Terri Martin, CEO of The Business Bunch, gets down to business: “The first place I tell clients to look when trying to save money are their supplier fees. Companies get sloppy working with suppliers but it’s a good idea to review supplier fees at least once a year to ensure you can save.” Her strategy is to ask for discounts, ask for competitive bids, and compare retainers with project fees.
Laura Hill, Sendle’s Managing Director in Australia, has a real win: “One of our customers, Andres Herrero of Sydney Sock Project was able to save around $8,000 on postage when he shopped around and compared what else was on offer from other carriers.” Shopping around takes time, but finding a cheaper parcel deal—or a technology integration—can be worth its weight in gold. Suppliers are not nailed down; renegotiate or replace them.
Occasionally the cost savings are disguised in how you work. Chris Green, Business By Design Author and Mentor, says: “The cost of doing business keeps going up. There are things you can’t control but there are also usually-hidden gems that can balance the books.” His secret? “Budgeting from first principles and throwing everything against this blueprint is a great way to discover potential savings.” Cut non-essential subscriptions, rethink staff roles—customer value, not convention.
ANZ Chair of Business Growth Dr Jana Matthews injects a sense of urgency: “There are times in the life of any business when there is not enough cash in the bank to pay the bills, and the owner panics.” Her remedy? If you lack enough cash in the bank to pay your bills, perhaps it’s that you’re not invoicing your customers promptly – or they’re slow payers. If the latter, issue those invoices tomorrow and discipline your Accounts Receivable (AR) employees to bill in a timely manner.”. If that’s the past, get somebody from the AR staff to phone behind customers late and ask them to pay NOW.” Streamline processes, and the money goes smoother.
Your people are not an overhead—they are an asset. Karen Kirton, of Amplify HR, cautions against reactionary reductions: “It may be ‘easy’ to reduce training spend or introduce redundancies, but these are usually short-term cost-saving initiatives with long term repercussions.” Rather, “Actively solicit input from your staff regarding cost savings – and be precise.”. Ask them for examples of what they have witnessed in terms of inefficient processes, red tape or revenue potential. Empower them to fix inefficiencies—it saves money and boosts morale.
Elise Balsillie, Thryv Australia Head, sees technology as a team-builder: “What many business owners don’t realize, at least in the early stages of their business, is how valuable their time is.”. One of the smartest things to do to save money and look for savings is hire an office manager. But smarter than any office manager is one you don’t need to train – and that’s where technology comes in.” A CRM can work on autopilot, freeing staff up to go for bigger wins.
The Big Picture
Reducing costs isn’t simply cutting—it’s cutting more wisely. Les Williamson, Check Point Managing Director ANZ, puts it in perspective back to security: “As the seeming relentless deluge of vicious cyberattacks rocked Australia’s most significant brands and institutions, business leaders and boards are beginning to recognize that preventive cybersecurity risk strategies must be evident through their business as well as through their outward-facing value chain.” His rationale? “Consolidated security can deliver higher levels of prevention and mitigation of risk across the entire enterprise, its citizens and its value chain, leading to cost savings and operational efficiencies.” Less vendor, less hassle, more savings.
Damien Sheehan, IWG Country Head Australia, looks to the future: “Organizations embracing hybrid work are now saving on traditionally fixed costs like rent, heating, and support staff, totaling an average of $14,300 per employee.” Hybrid models cut rent and commute expenses—for you and your team. It’s resilience, not reaction.
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