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Tag Archives: cost transformation
3C Software: Defining the Role of Costing for Manufacturing Leaders: How to Establish a Cost Culture
January 26, 2021
Finance leaders Brent Williams and John Lutz give insights into their organizations that have embraced a cost culture and highlight their experience building an integrated costing program.
“Now we have a way to walk through the costs, verify assumptions, and have a better documented and system-defined method of costing that shows the impacts of any change.”
Cost Management Isn’t Only About Costs
October 9, 2019
“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 management has shifted from cost reduction to cost transformation. The cost-to-transform method is about managing cost structures along with revenue growth and changing product and services offerings, all while focusing on growth. In this “save to transform” mode that many businesses are in, technology is making a huge play.
Read More at Knowledge @ Wharton >
