“Quick-Fix” Cost Management Is Risky Business
July 9, 2019
In financially unclear times, it is easy for businesses to attempt cost cutting methods that are risky, impulsive and have major potential to reduce capabilities necessary to fuel digital transformation. Instead, companies must consider value and risk when making cost-management decisions, taking a cost optimization approach that aims to deliver long-term value and immediate spend efficiency. Cost optimization often starts as an exercise in cost reduction, and cost pressures endure. When business leaders make uninformed cost management decisions, the business impacts can be negative, and sometimes difficult to recover from.
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