as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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identify 3 specific strategies a business can use to reduce costs.
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1. automation – automation allows businesses to increase efficiency and accuracy while streamlining processes, and thus reducing labor costs. 
2. resource planning and scheduling – this process involves optimizing resources to ensure efficient utilization, which can lead to lower costs. 
3. outsourcing – outsourcing certain tasks can often reduce costs due to the lower wages rates available outside the country or even within the country.
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