Organizations that deliver the best and most consistent returns all have one thing in common – a continuous strategic commitment to cost management. Synergetics will work with your company to review your cost base, identify opportunities and embed an ongoing process that will identify “good” costs and “bad” costs, and then relentlessly pursue the latter.
Strategic cost management is a top-down commitment that is displayed at all levels throughout the organization. It takes simply being cost conscious to another level, which, if implemented effectively, can be a driver of competitive advantage. Cost Management is the process by which companies control, and plan, the costs of doing business. When properly implemented, a cost management strategy will translate into reduced production costs for products and services, as well as result in increased value being delivered to the customer. And this process ultimately enhances your company’s bottom line.
Synergetics understands that in order for your management team to be effective in reducing costs and increasing revenue, a comprehensive Cost Management approach must be put in place. Anticipated costs are identified and measured, expenses then approved before any purchasing occurs, and incurred costs are recorded and tracked to ensure that costs are controlled and kept in line with initial expectations. Synergetcis can assist your company in creating such a process, one that is organized and tailored with this strategy in mind.
If your Cost Management strategy is clearly defined (or you need help in this area), we can facilitate and implement an effective Cost Management process under which your company can operate. Cost Management, done properly, will allow your company to operate within its allocated budget and continue to do so going forward. There is always the possibility of running into unexpected costs, but preparation in the form of an effective Cost Management program will likely make them much easier to deal with when they do occur. We help implement advanced activity-based management operating systems, to ensure that these benefits perpetuate continuous improvement over the long term.
Our approach typically focuses on the following three areas, each further customized to suit your particular need: