Slower economic growth coupled with inflation and rising interest rates has resulted in cost pressures across multiple industries. Many companies have witnessed their costs increase in the face of revenue challenges, creating an unsustainable environment. In response, companies are looking to reduce costs to retain customers, manage finances, and meet shareholder expectations. Corporate Services leaders may be charged with savings in their specific functional domain or may be required to lead organization-wide savings initiatives under financial or restructuring objectives. Each mandate, regardless of scope, requires a methodical approach. Our proven, seven-step approach described below showcases the importance of the right steps in the right order to make the biggest impact.