Cost Cutting Practices For The Financial Services Industry
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Cost Cutting Practices For The Financial Services Industry
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Author : Forte Consultancy Group
language : en
Publisher: Forte Consultancy
Release Date :
Cost Cutting Practices For The Financial Services Industry written by Forte Consultancy Group and has been published by Forte Consultancy this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
As almost a matter of life and death, just to stay afloat, many financial institutions around the world are biting off big chunks of cost items from their income statements. For example, just recently, Lloyds TSB revealed its plans to cut £1.5 billion of its costs by 2011, to make its after-merger organization sustainable in one of the most challenging financial environments ever. No one company is excluded from the crisis…look at any firm –Bank of America, Citibank, Deutsche Bank – all are taking drastic measures to keep playing in this game of survival of the fittest...
Cost Reduction And Control Best Practices
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Author : Institute of Management and Administration (IOMA)
language : en
Publisher: John Wiley & Sons
Release Date : 2012-07-03
Cost Reduction And Control Best Practices written by Institute of Management and Administration (IOMA) and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-07-03 with Business & Economics categories.
Cost Reduction and Control Best Practices provides financial manages with no-nonsense, balanced, and practical strategies that are being targeted and used nationwide for controlling costs by thousands of companies in areas such as human resources, compensation, benefits, purchasing, outsourcing, use of consultants, taxes, and exports. These best practices are based on the trenches experience, research, proprietary databases, and consultants from the Institute of Management and Administration (IOMA) and other leading experts in their fields. * Provides best practices and techniques for controlling costs within a company * New chapters focus on outsourcing costs, downsizing, consultants' costs, and business tax costs * Provides the latest strategies companies re using to control costs
Cost Reduction And Control Best Practices
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Author : Institute of Management and Administration (IOMA)
language : en
Publisher: Wiley
Release Date : 2013-08-12
Cost Reduction And Control Best Practices written by Institute of Management and Administration (IOMA) and has been published by Wiley this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-08-12 with Business & Economics categories.
Cost Reduction and Control Best Practices provides financial manages with no-nonsense, balanced, and practical strategies that are being targeted and used nationwide for controlling costs by thousands of companies in areas such as human resources, compensation, benefits, purchasing, outsourcing, use of consultants, taxes, and exports. These best practices are based on the trenches experience, research, proprietary databases, and consultants from the Institute of Management and Administration (IOMA) and other leading experts in their fields. * Provides best practices and techniques for controlling costs within a company * New chapters focus on outsourcing costs, downsizing, consultants' costs, and business tax costs * Provides the latest strategies companies re using to control costs
Cut Costs Grow Stronger A Strategic Approach To What To Cut And What To Keep
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Author : Paul Leinwand
language : en
Publisher: Harvard Business Press
Release Date : 2009-07-15
Cut Costs Grow Stronger A Strategic Approach To What To Cut And What To Keep written by Paul Leinwand and has been published by Harvard Business Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-07-15 with Business & Economics categories.
For most companies, cost cutting in a down economy means across-the-board slashing that "spreads the pain" of budget reductions across many departments. While that may sound like the best approach for getting critical results fast and for limiting political infighting, it is a mistake-one that will leave your company weaker, not just smaller. Instead, companies that need to reduce costs should treat the challenge as an opportunity to identify and reinforce their key capabilities, while divesting from those activities that do not truly reflect the business's strengths or long-term goals. This more strategic approach will make your company more resilient as tough times continue and more robust as recovery begins. In Cut Costs, Grow Stronger, an e-book published as part of the Harvard Business Press Memo to the CEO series, Booz & Company's Shumeet Banerji, Paul Leinwand and Cesare Mainardi provide executives with the tools they need to rapidly implement capabilities-driven cost reduction. First they demonstrate how to identify and clearly articulate your company's key capabilities-not just core competencies or skill sets, but those very few strengths that, in combination, define how your organization competes. You can then use this information to create your company's unique blueprint for effective and efficient cost reduction. The authors' detailed, step-by-step framework walks you through the process, which can be completed in as little as two or three months-it's something that you can do now. This practical guide to capabilities-driven cost-cutting is the tool executives need to confront the challenge of today's economy while strengthening the foundation for what will set their company apart in the future.
Cost Reduction Analysis
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Author : Steven M. Bragg
language : en
Publisher: John Wiley & Sons
Release Date : 2010-04-13
Cost Reduction Analysis written by Steven M. Bragg and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-13 with Business & Economics categories.
Discover the tools for knowing the costs your company should cut, without impacting its ability to deliver goods and services New from Steve Bragg, this book provides the tools for determining which costs a company should cut, without impacting its ability to deliver goods and services. It explains how to use throughput analysis in order to locate bottleneck operations in a company, which in turn dictates where capital investments should (and should not) be made. Delves into process analysis, to determine where excess resources are being used in a business process Describes the total cost of ownership, showing how a single purchasing decision actually snowballs into a variety of ancillary costs Shows how to create and use a spend management system to reduce procurement costs Shows how just-in-time systems can be used to eliminate inventory costs Cost Reduction Analysis: Tools and Strategies provides examples to show how much cost can potentially be eliminated to avoid drastic action later that can imperil your corporation's direction and future.
Cut Costs Not Corners
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Author : Colin Barrow
language : en
Publisher: Kogan Page Publishers
Release Date : 2010-05-03
Cut Costs Not Corners written by Colin Barrow and has been published by Kogan Page Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-05-03 with Business & Economics categories.
Cost cutting is an issue for every manager and executive at every level in every company, large or small, public or private sector. Junior managers who are proactively tight on cost are learning good habits for the future, ones that will bring them recognition and advance their climb up the organizational chart. The HR department is now staffed with tough cost managers dealing with the most difficult cost category, people. Marketing departments now focus on how to get higher returns from less spend. Cut Costs Not Corners has a coherent and structured approach to cost cutting as a permanent activity, combined with guidance on the practical steps to take and powerful international case studies. It covers strategic and tactical cost cutting options such as analysing space needs, buying technology for less, selling off redundant assets, reducing credit risk, reviewing distribution methods, sourcing new suppliers or consolidating existing ones, advertising for less, changing the route to market, travel and utility savings, minimising finance and tax costs, crisis measures - freezing recruitment, delaying pay rises, sell and lease back assets - keeping budgets rolling and using a daily cash flow model.
100 Great Cost Cutting Ideas
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Author : Anne Hawkins
language : en
Publisher: Marshall Cavendish International Asia Pte Ltd
Release Date : 2010-06-15
100 Great Cost Cutting Ideas written by Anne Hawkins and has been published by Marshall Cavendish International Asia Pte Ltd this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-06-15 with Business & Economics categories.
Every company is now in the business of reducing costs wherever and whenever they can. No business owner or manager can avoid cost-cutting if they are to succeed, or indeed survive. This book contains 100 great ideas to reduce and save costs in business organisations. Researched from leading companies around the world, each idea is described in a succinct way. You are then shown how to apply that idea to your own business situation. A simple formula which has the potential to reap great rewards.
Driving Down Cost
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Author : Andrew Wileman
language : en
Publisher: Hachette UK
Release Date : 2011-01-11
Driving Down Cost written by Andrew Wileman and has been published by Hachette UK this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-11 with Business & Economics categories.
Drawing on over 25 years consultancy experience running over 50 big one-time, cost-reduction projects internationally, Wileman provides a Cost Management Toolkit of key ideas and cost management strategies for analysing cost-management including procurement and management accounts and looks at how the leadership team needs to take the lead and set the tone on cost. He lays out a set of ideas, approaches, tips and tricks that have worked for him and looks at the sneaky ways cost can be created and the even sneakier, smart ways they can be cut - like getting your customers to do your work for you, or turning cost into revenue. Packed with real-life, international case studies and practical techniques for implementing cost reduction programmes in a period of chaos in the markets and worldwide recession, this new edition could not be more timely.
Cost Recovery And Pricing Of Payment Services
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Author : B. David Humphrey
language : en
Publisher:
Release Date : 1999
Cost Recovery And Pricing Of Payment Services written by B. David Humphrey and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.
October 1997 The cost of providing payment services is substantial- 3 percent of GDP. Cost reduction requires the appropriate pricing of those services. A modern payment system is essential for promoting domestic and international trade and exchange as well as developing financial markets. Payment users will be directed toward the most efficient payment methods when the costs of producing those services are reflected in the prices paid. Resources are being wasted in the United States because consumers see no important difference in transaction prices or bank costs between using a check or using electronic direct debit in paying a bill, even though the social costs of these two instruments are different. Electronic payments cost only a third to half as much as paper-based payments. An estimated $100 billion (or 1.5 percent of GDP) is being lost by the continued use of paper-based checks. When payment instruments are not appropriately priced, the costs must be covered elsewhere. One common solution is to let loan revenues cover part of payment expenses (keeping loan rates higher to compensate). When prices reflect the full cost of producing the service, users demand the services that use the fewest real resources. Humphrey, Keppler, and Montes-Negret give examples of payment prices and price schedules and show how underlying cost data are used to build up to a price. They outline how payment services may best be structured to: * Appropriately reflect economies of scale or scope in the production of payment services. * Adjust cost recovery percentages to accommodate how much demand conditions associated with start-up differ from those associated with mature operation. (During a new system's early years of operation, the transaction volume may be low and some form of underrecovery of costs may be required to encourage use of the system. But any such underrecovery must be built into future pricing arrangements once the systems are established and traffic volumes are at a level where full cost recovery is practical. To ensure fairness, the pricing structure must also guarantee that latecomers to the system do not get more favorable treatment than the initial user group.) * Induce efficient use of scarce resources. They note the economic principles that recommend certain pricing methods over others and apply equally to payment services provided by the private sector or through a government agency. They show why costs should be recovered through user transaction fees. This paper- product of the Financial Sector Development Department- part of a larger effort in the department to promote the development of financial sector infrastructure to support banking and capital market activities.
How To Cut Costs And Expenses In A Business Effective Cost Reduction Strategies In A Small Business
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Author : Meir Liraz
language : en
Publisher: Independently Published
Release Date : 2019-03-13
How To Cut Costs And Expenses In A Business Effective Cost Reduction Strategies In A Small Business written by Meir Liraz and has been published by Independently Published this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-13 with Business & Economics categories.
Increasing profits through cost reduction must be based on the concept of an organized, planned program. Unless adequate records are maintained through a proper accounting system, there can be no basis for ascertaining and analyzing costs. Cost reduction is not simply attempting to slash any and all expenses unmethodically. The owner-manager must understand the nature of expenses and how expenses inter-relate with sales, inventories, cost of goods sold, gross profits, and net profits. My name is Meir Liraz and I'm the author of this book. According to Dun & Bradstreet, 90% of all business failures analyzed can be traced to poor management. This is backed up by my own experience. In my 31 years as a business coach and consultant to businesses, I've seen practically dozens of business owners fail and go under -- not because they weren't talented or smart enough -- but because they were trying to re-invent the wheel rather than rely on proven, tested methods that work. And that is where this book can help, it will teach you how to avoid the common traps and mistakes and do everything right the first time. Table of Contents: 1. Introduction 2. Paying The Right Price 3. Analyzing Your Expenses 4. Break-Even Analysis 5. Locating Reducible Expenses 6. Taking Action 7. Introduction to Financial Management