Download or read book Cost Cutting Practices For the Financial Services Industry written by Forte Consultancy Group and published by Forte Consultancy. This book was released on with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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...

Download or read book Cost Reduction and Control Best Practices written by Institute of Management and Administration (IOMA) and published by John Wiley & Sons. This book was released on 2012-07-03 with total page 461 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

Download or read book Cost Reduction and Control Best Practices written by Institute of Management and Administration (IOMA) and published by Wiley. This book was released on 2013-08-12 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

Download or read book Cut Costs Grow Stronger A Strategic Approach to What to Cut and What to Keep written by Paul Leinwand and published by Harvard Business Press. This book was released on 2009-07-15 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Cost Reduction Analysis written by Steven M. Bragg and published by John Wiley & Sons. This book was released on 2010-04-13 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Fit for Growth written by Vinay Couto and published by John Wiley & Sons. This book was released on 2016-11-18 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical approach to business transformation Fit for Growth* is a unique approach to business transformation that explicitly connects growth strategy with cost management and organization restructuring. Drawing on 70-plus years of strategy consulting experience and in-depth research, the experts at PwC’s Strategy& lay out a winning framework that helps CEOs and senior executives transform their organizations for sustainable, profitable growth. This approach gives structure to strategy while promoting lasting change. Examples from Strategy&’s hundreds of clients illustrate successful transformation on the ground, and illuminate how senior and middle managers are able to take ownership and even thrive during difficult periods of transition. Throughout the Fit for Growth process, the focus is on maintaining consistent high-value performance while enabling fundamental change. Strategy& has helped major clients around the globe achieve significant and sustained results with its research-backed approach to restructuring and cost reduction. This book provides practical guidance for leveraging that expertise to make the choices that allow companies to: Achieve growth while reducing costs Manage transformation and transition productively Create lasting competitive advantage Deliver reliable, high-value performance Sustainable success is founded on efficiency and high performance. Companies are always looking to do more with less, but their efforts often work against them in the long run. Total business transformation requires total buy-in, and it entails a series of decisions that must not be made lightly. The Fit for Growth approach provides a clear strategy and practical framework for growth-oriented change, with expert guidance on getting it right. *Fit for Growth is a registered service mark of PwC Strategy& Inc. in the United States

Download or read book Cost Information for Decision Making written by Daniel Carl Clouser and published by . This book was released on 1987 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Cost Reduction and Control Best Practices written by Institute of Management and Administration and published by . This book was released on 2013 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Cost Recovery and Pricing of Payment Services written by B. David Humphrey and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book How to Cut Costs and Expenses in a Business Effective Cost Reduction Strategies in a Small Business written by Meir Liraz and published by Independently Published. This book was released on 2019-03-13 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

Download or read book The Price Waterhouse Guide to Activity based Costing for Financial Institutions written by Julie Mabberley and published by McGraw-Hill Companies. This book was released on 1996 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: From banks to brokerage houses, profitability is the watchword for today's financial institutions. The search is unceasing for better ways to achieve it, maintain it, and defend it against competitive pressures. For some time, managers within financial institutions have been aware of a powerful new tool for cost analysis developed in the manufacturing sector: activity-based costing (ABC). A handful of financial services consultants around the world have been helping their financial services clients to migrate ABC from its birthplace in the manufacturing sector to the world of financial services, where it can be immensely effective as a basis for strategic decisions. It was time for a book that clarifies for general executives how ABC works and what contributions it can make to the formation of winning strategies. And it was time for a practical, comprehensive book that initiates management accountants in the financial services sector into this new approach to cost analysis. The Price Waterhouse Guide to Activity-Based Costing for Financial Institutions is that book. The ABC approach is particularly effective because financial services companies sell services as well as products. Profitability measurement cannot rely on older, more traditional methods of cost accounting, techniques that focus on the costs of raw materials and labor. The Price Waterhouse Guide to Activity-Based Costing for Financial Institutions shows how these firms can use the breakthrough concept of ABC in the same way that other companies manage all activities from the top down, more efficiently. This book explains the methods of this technique, with detailed guidelines that help firms plan for costs before theyoccur, rather than simply monitoring them.

Download or read book Operations in Financial Services written by Michael Pinedo and published by Foundations and Trends in Technology, Information and Operations Management. This book was released on 2017-12-21 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Operations in Financial Services establishes a framework for this research area from an operations management perspective. The first section presents an introduction and provides an overview of the topic. The second section establishes links between the current state of the art in relevant areas of operations management and operations research and three of the more important aspects of operations in financial services - (i) financial product design and testing, (ii) process delivery design, and (iii) process delivery management. The third section focuses on the current issues that are important in the financial services operations area. These issues center primarily on mobile online banking and trading in a global environment. The fourth section discusses operational risk aspects of financial services. The final section concludes with a discussion on research directions that may become of interest in the future.

Download or read book Powering the Digital Economy Opportunities and Risks of Artificial Intelligence in Finance written by El Bachir Boukherouaa and published by International Monetary Fund. This book was released on 2021-10-22 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.

Download or read book Cut Costs Not Corners written by Colin Barrow and published by . This book was released on 2010 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Cut Costs Not Corners outlines practical steps to make cost cutting as a permanent business strategy rather than a one-time measure. It covers strategic and tactical cost-cutting options such as analyzing 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, minimizing finance and tax costs, crisis measures, keeping budgets rolling, and using a daily cash flow model"--EBL book details.

Download or read book Bank Mergers Acquisitions written by Yakov Amihud and published by Springer Science & Business Media. This book was released on 1998-02-28 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the financial services industry becomes increasingly international, the more narrowly defined and historically protected national financial markets become less significant. Consequently, financial institutions must achieve a critical size in order to compete. Bank Mergers & Acquisitions analyses the major issues associated with the large wave of bank mergers and acquisitions in the 1990's. While the effects of these changes have been most pronounced in the commercial banking industry, they also have a profound impact on other financial institutions: insurance firms, investment banks, and institutional investors. Bank Mergers & Acquisitions is divided into three major sections: A general and theoretical background to the topic of bank mergers and acquisitions; the effect of bank mergers on efficiency and shareholders' wealth; and regulatory and legal issues associated with mergers of financial institutions. It brings together contributions from leading scholars and high-level practitioners in economics, finance and law.

Download or read book Beyond Cost Reduction written by and published by . This book was released on 2005 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some years back, Global Services Sourcing (GSS) was garnering anecdotal coverage in the media as a novel way for some businesses to generate cost reductions. As the phenomenon has gained momentum, it has polarized both experts and the public into "for" and "against" positions. Managers have been exposed to a steady diet of anecdotes and rhetoric on how offshoring affects employment, customer service quality and costs. From the perspective of business strategy, these accounts leave a number of questions unanswered: What is the totality of risks and rewards that offshoring offers today? How is this landscape evolving? What areas are more or less advanced? What are best practices in the design and implementation of offshoring? What learnings have the pioneers accumulated along the way, and what models have they developed to maximize the impact of their offshore operations at a global level? These questions have enormous strategic and financial implications for businesses, and yet are not presently understood in any comprehensive and rigorous manner. Our objective in this report is to offer a pragmatic and fact-based perspective on these questions. Rather than painting the rapidly evolving offshoring landscape in broad brushstrokes, our report pinpoints one sector -- Financial Services -- and investigates the dynamics of offshoring in this industry as viewed along three segments -- Venture Capital & Private Equity, Retail Banking, and Institutional Banking. We selected this sector given the substantial size of the industry and the active interest, whether or not acknowledged in the public domain, that financial institutions have taken in offshoring.

Download or read book How to Control Cost for It Services Startup Company written by Shanthi Kumar Vemulapalli and published by Createspace Independent Publishing Platform. This book was released on 2015-07-20 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Background of this book writing: How to control cost for IT services - Startup Company Managing cost control for IT Startup Company Many startup based IT companies they run behind customers to get the business orders by holding the IT staff on bench. But when the customer budget is applied for IT cost cutting the so called IT vendors are burning their fingers in the industry. With reference to my close observations, I found lot of them does not follow the standards, where most of the IT corporates follow to have their cost control. I felt this small practice related content can help globally to IT startup Vendors to be aware of on applying the right process and standards by preventing their future unknown financial burning due to their customers business dynamics. This E-book contains the solutions for small or startup IT companies with the following contents and the relevant graphics to denote the content : Table of Contents Chapter One: Introduction Chapter Two: The need of financial management for a Startup IT Chapter Three: Questions behind the Financial Management for IT company Chapter Four: The main processes in financial management Chapter Five: Budgeting in financial management Chapter Six: Accounting in financial management Chapter Seven: Charging in financial management Chapter Eight: Reporting in financial management Chapter Nine: The Dos and Don'ts for financial management Chapter Ten: The required Solutions and best practices Chapter Eleven: What are the sub-processes of financial management Chapter Twelve: The importance of the Enterprise Architecture in place Chapter Thirteen: Best practices for financial operations and internal strategy Chapter Fourteen: Talent acquisition and retention management Chapter Fifteen: IT Billable Resources retention Profit and Loss analysis during bench Also felt to share and advise this kind of practices to the project and operational staff, to be aware of the management intention in cost savings. It can reduce the resources 11th hour tension or stress due to their company's business trends. I took lot of pain to convert each chapter related contents into Graphics, where the reader can easily understand and remember for their live practices. Also created many live business related examples. Readers: Every IT team management professional including; team lead, project manager, PMO executives, Finance and Account teams. The customers who are outsourcing the work to different vendors. The IT startup executives. You can see this book description video: https://youtu.be/VHZVN5OszeI