In an environment which is dynamic and highly competitive, where customers are spoilt for choices, increasing vulnerability to volatility and global shocks and increased business downturns, the only option is to look internally and manage costs well, innovatively and in a holistic manner. This would require building an institutionalised and sustained "cost management" culture by way of a framework which approaches cost management holistically, enables contribution from all constituents of the organisation, relentlessly implements actions and provides a system for review of costs.
Every action has a cost implication and often many organisations are not in a position to understand the various cost factors. Therefore, understanding costs would be a starting point. The relationship could be as evident in product change times, or not so evident in underappreciated production capacities or inter-departmental service turnaround times. Furthermore, all employees of the organisation need to be trained to have the same understanding on costs.
Vantage facilitates institutionalising cost management culture; evolution of cost management frameworks; cost analysis & cost systems; decision support for cost efficiency, energising cross-functional cost management teams; cost reduction and training to enable growth & superior performance.