The introduction of Cost Management processes can support your organization whilst at the same time keeping costs, and the value that is added by cost drivers, in business focus.
This diagram shows the key components of Cost Management:
The cost structure of a company is often complex and it can be difficult to obtain a complete overview of them. Planning, budgeting and cost allocation are therefore important cost management activities and are subject to certain requirements:
A significant portion of costs will be incurred for IT operations and infrastructure. Therefore, services and IT solutions should be regularly reviewed and new internal procedures and processing techniques should be sought and evaluated. Another way to improve cost structure and transparency is through the use of outsourcing or financial modeling.
Decisions can only be made with confidence if cost structures are sufficiently transparent and therefore if the corresponding base data exists. This assumes that operational performance and the IT infrastructure quality can be measured with reasonable accuracy.
COREVA offers these Cost Management services:
COREVA will perform quality reviews of existing cost management practices and can assist in the implementation of new or improved cost management processes and procedures
Good cost management can bring your company several qualitative and quantitative benefits:
Download the most important facts about our Cost Management services here.