Cost management is commonly seen as slashing budgets and doing less, but we see it differently. It’s about removing waste, and actually spending more on the areas that matter. There seems to be a never-ending cycle of corporate mandates to achieve greater profitability, using fewer resources. As management succumbs to this tremendous pressure, managers often resort to drastic measures, cutting critical programs, eliminating budgets, or downsizing. Many cost reduction initiatives actually have a negative effect and tend to erode top-line performance, or place strategic imperatives at risk. Others are simply not sustainable. We educate our partners that it isn’t just about cost reduction––it’s really about cost management. Cost management is a strategic exercise to review and improve business processes,
products, and operations. It’s not about doing less, it’s about being able to do more in strategic areas, increase capabilities, and make better informed investment decisions that drive competitive advantage and top-line growth.