5 ways to control costs
Driving the bottom line through profitable revenue growth likely is the objective of virtually every company. This should be the number one focus, of course. If you’re not growing, you’re dying. But companies also need to focus on controlling costs. Without constant vigilance, companies can find themselves in an uncompetitive situation with bloated overhead. The episodic slashing and burning that then becomes necessary can significantly damage a company. These efforts risk producing exceptions on the financial statements, drive “one-time” charges, and hurt company culture. Here are 5 ways to control costs...
Is your budget process stuck on last year's numbers?
Remember your last budget meeting? If you're like many CFOs, it was a long, exhausting process that was not particularly effective. As the presenters showed you their plans, you probably challenged every number and explored every assumption. In the end, you may have raised their targets a little, but if you're honest, you have to admit that each unit's final budget for next year looked a lot like the one its managers proposed at the beginning of the budget process—which in turn wasn't much different from the latest forecast for this year or actual performance for the previous year. Find out more...
SHARE THIS PAGE!