Achieving sustainable improvements in cost efficiency
Achieving a balance between where you spend and where you save is crucially important in business - especially in these tough economic times. Businesses need to think about their cost base as an investment and continually review whether the 'investment' is being made in the right areas.
At KPMG, we help companies to improve cost efficiency, to achieve greater profit from the cost base. We also implement significant and sustainable cost reductions, either driving savings to the bottom line or redeploying the savings in under-invested activities to add value.
We draw on our extensive cross-functional experience to look at the whole enterprise to help you achieve targeted savings in areas such as operations, supply chain, procurement, IT, HR or finance. Our Tax specialists can also advise you on how to make your supply chain operate more tax efficiently or how you can reduce your indirect tax bill.
CFO's should look beyond 'slash and burn' to sustainable savings that transform businesses.
Surely, in a harsh economic climate like this, now is not the time to be investing in Shared Service Centres (SSCs). Yet companies are accelerating their SSC initiatives because of the downturn.
Loughlin Hickey, Global Head of Tax, explains how the new economic reality is forcing companies to rethink their entire operations, and what this means for tax management and tax professionals.
As we continue through the recession, CFOs need to start to understand how these cost cutting initiatives can be sustained in the long term, without long term damage to the business.
The impact of the current economic climate on companies across all sectors has prompted a focus on cost control. HR professionals will play a key role in this, whether managing headcount reductions, implementing pay freezes or reorganising key capabilities.
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