Uncovering Profit Opportunities with Cost Management Systems
Challenge
A mid-market manufacturer was being questioned by their Board of Directors about costs and margins and so had to quickly implement a cost management process and system to answer their questions and to ensure consistent, comparable, accurate and timely data, sliced and diced in many ways for management decision-making.
Result
- Developed a comprehensive cost process and aligned to the ERP system which would cut the cost portion of the close by more than 65%.
- Worked with a cost project team to eliminate 20 million records and to create exception reports to ensure consistent, comparable, accurate and timely data for management decision-making.
- Reduced cost roll errors by 20%.
What We Did
Partnered with the business leaders to assess the cost management process and system inclusive of people, processes and systems
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