Costing teams maintain a careful eye on numbers to understand current profitability and make recommendations for improvements. Strategic teams require their support in computing costs with accuracy, failing which, cash losses may occur and profitability may decline.

Costing teams maintain a careful eye on numbers to understand current profitability and make recommendations for improvements. Strategic teams require their support in computing costs with accuracy, failing which cash losses may occur and profitability may decline.

Costing teams are usually overwhelmed with data from various sources. Apart from routine tasks of studying cost-profit impact by period, division, or process, they also need to address specific requirements of the management:

• Track costs on real-time basis
• Analysis by activity or cost group
• Cost behaviour analysis
• Identify loss-making avenues with root-cause

Need for complex analyses and limitations of spreadsheets may result in inaccurate or less efficient estimation of costs. Combining files, grouping of data, and assimilating information regardless of volumes are some benefits that analytics immediately offer.

• Data analytics can help gather data, combining files, classifying costs by one or more groups and analysis connected information for trends
• Process automation can generate triggers based on defined key performance indicators

Check out our Solutions page for examples or our Technology page for details.