My story
Welcome to the Smart Cost page!
My name is Evgeni Todorov, and I am the founder of this company. I believe trust is the basis of any valuable partnership. That is why I would like to share my reliability, competence, and dedication through my professional story.
I hold a Bachelor's degree in Accounting and control, as well as a Master's degree in Economics of tourism from the University of national and world economy, Sofia. I possess numerous certificates in the field of financial management, among them from the prestigious Cornell University in the USA.
After five summers in America and despite my rapid hierarchy growth in a hotel chain, I decided to build a career in Bulgaria. For over 15 years, I have obtained key managerial positions in companies with hundreds millions turnover and staff over 500 employees. I gained solid practice in financial management, verified by the results of the respective organizations. I am also a proven expert in process automation, implementing dozens of ERP improvements.
The accumulated knowledge and specific know-how motivated me to establish Smart Cost in order to help businesses reduce their expenses and outpace the competitors.
About the company
Your savings are our business!
Smart Cost Ltd is a business cost management company, producing sustainable savings without compromising on quality.
As per our mission, we are helping clients to lower their costs and stay ahead of the competitors.
Our remuneration is totally result oriented meaning that if there is no saving, there is no charge.
We could provide upon request a preliminary assessment of the savings potential in your expense categories. It does not commit you in any way, but will help you make an informed decision about a mutual project.
Cost reductions
Smart Cost specializes in the area of ancillary business expenses - products, services, and consumables. We are proficient in uncovering non-competitive rates, supplier overcharges, material waste, deteriorated quality, lack of control, process improvement needs and even more.
We are focused on identifying and eliminating the loss of resources as this is one of the fastest and most effective ways to increase the profitability of a company. Every dollar saved by Smart Cost is immediately at the business’s disposal. That is how we help it grow.
Process
Once we gain your trust, we collect the raw data (invoices, contracts, samples, etc.) within a day. There is no need for you to allocate resources. Smart Cost organizes the process as not to disrupt your daily routine. Then we analyze the accumulated information in detail to identify the savings potential and conduct an in-depth market research. Smart Cost summarizes the results in a report with grounded recommendations. The decision which ones to implement is yours. Over the next two years, we monitor the real savings, providing follow-up measures for improvement. Every three months, Smart Cost presents an audit report with the actual reductions by expense categories. You are already saving.
In focus
The management's attention is primarily focused on revenues and core raw materials. The ancillary costs, in which Smart Cost specializes, often fail to receive enough attention. It is challenging to allocate the necessary resources for their management, but we are here to help. In general we are able to reduce any significant and recurring expense, but most often we find potential for reductions in the following cost categories.
- Auxiliary materials
- Packaging
- Labels
- Transport (land, air, sea)
- Courier services
- Electricity
- Fuel
- Cleaning (offices, factories, hotels)
- Catering
- Communications
- Disinfection, pest control
- Hygiene materials
- Office products and printing
- Workwear
- Advertising materials
- Security and safety
- Insurance
- IT support
- Construction
- Fasteners
- Bank fees
Sharing the savings
We are flexible, offering different ways to allocate the results. In case you wish Smart Cost to monitor and control the actual savings after applying the selected recommendations, you would share with us:
50% of the actual reductions for the first 2 years, with deferred payment on a quarterly basis
If you are confident that you do not need our professional and thorough monitoring, then:
33% of the projected savings for the first 2 years are allocated as a one-time payment to Smart Cost
And since the lower costs we achieve last for a period of five years and more, over 80% of the savings remain at your disposal.
Debt collection
Smart Cost offers professional solutions for the collection of overdue receivables- a critical factor for the stability and sustainability of any business.
We develop tailored strategies based on the nature of the debt and the behavior of the counterparty. Our approach combines out-of-court and legal measures, coordinated with the client at every step. We operate discreetly yet consistently, focusing on tangible results while preserving healthy business relationships.
