Tag Archives: cost management

Aligning FP&A and Accounting Teams for Success

“Accounting teams, which are responsible for controls, compliance and reporting — traditionally backwards-looking functions — tend to focus on the balance sheet, while financial planning and analysis (FP&A) teams, which are responsible for forward-looking budgeting and forecasts, tend to focus on the P&L. FP&A teams typically account for a transaction one way — as an […]

Industrial Companies: Control Indirect Costs to Gain Profits

“Maintaining profits and growth is going to be very difficult. However, regardless of the larger economic environment, companies can take actions that can help. Specifically, many companies are seeing the share of general and administrative (G&A) costs increase. From 2008 to 2015, G&A expenses grew more slowly than revenues (41.8 percent versus 61 percent). Since […]

The 3 Most Common Profit-Killing Mistakes to Avoid

According to Gartner, just three types of financial decision-making mistakes can cost businesses around 3% of their net profit. Operational decisions are increasing in speed, volume and complexity — creating a challenge for finance, whose job it is to make sure those decisions are financially sound. Many finance teams have invested in different tools and […]

Creating A Sustainable Business Model for The Future

Dynamics within a business are constantly changing – from their customers and business models to their cost drivers and profit margins – nothing ever stays the same. In order for a business to grow and continue to be profitable, new processes must be able to take root.  The challenge for many business leaders understanding their […]

What Sets Modern Finance Teams Apart from The Competition?

What sets modern finance teams apart from their competition? The short answer: their cost management methodology. “Using cost management as a strategic lever, as opposed to a defensive response, creates new opportunities. It is no longer a reactive tool. It is a proactive way to become more competitive in the global environment.” Modern finance leaders […]

Cost Management Isn’t Only About Costs

“Not long ago, companies thought cost management was about reducing expenses. The notion then evolved and was viewed as a way to manage costs while also driving growth. Now, cost management is advancing further. Business leaders see it as a strategic initiative that is part of a larger transformation process.” Modern businesses’ focus on cost […]

Cost Management: The Key to Sustainable Profitability

“Companies that achieve “efficient growth” focus on building scale, not scope, into their cost structures.” Controlling costs is not a new priority for modern CFOs, but today’s competitive pressures have finance leaders determined to translate their long-term growth plans to sustainable profitability. Finance leaders today distinguish themselves by the cost management practices they implement in […]

Why Intelligent Spend Management Matters

Traditional tools no longer meet expectations for finance leaders who need an end-to-end platform that delivers real-time information for decision making. As businesses continue to grow and become more complex, intelligent platforms are increasingly necessary to derive true value from data. Supply chain leaders today struggle with the complex task of managing expenditures across global […]

How to Strategically Cut Costs Across the Enterprise

There are several steps businesses can take to develop a structural process for an enterprise cost reduction program in a way that positively impacts every aspect of the organization – not just the bottom line. For decades, businesses have made cost reduction a priority to increase profits and drive growth. In recent years, digital disruption, […]