Costing - Activity-Based Costing / Costing
Cortell has been involved with costing projects since its inception in 1992. Over this time it has built up considerable experience in a multitude of costing projects in a variety of industries. Costing work undertaken could be summarized into the following:
These are typically once-off exercises for organizations wanting to get a clearer understanding of a particular cost problem such as why certain entities or products may be losing money or to benchmark cost of business processes with other organizations. These are often referred to as snapshot exercises and typically cover only a selected period and a focus on specific areas to support pending decisions.
Costing System implementations
Cortell has implemented a variety of costing systems including Activity-Based Costing and Standard Costing systems. Costing systems are normally set up to interface with operational systems to extract cost and performance data required in the costing process. The costing solutions are also set up to facilitate low Cost-of-Costing in order to frequently repeat the cost exercise.
Cortell can provide a turnkey outsourcing service that covers provision of software, hardware and services to provide cost information or a monthly or quarterly basis. Qualified consultants will set up your business structure, products, services and processes on our software and provide you with the costing reports and information you require. This is a cost effective way to obtain costing services on an ongoing basis without incurring the cost of an in-house cost accounting team.
Strategic Cost Management
Strategic cost management exercises are undertaken to support major strategic decisions or will fundamentally affect the way an organization works. These could be investigations into the cost impacts a merger may have on the respective parties, the expansion of business units or products into new markets, feasibility studies for new plants, identification of processes and activities that causes organizations to lose money, etc.
Sophisticated cost modeling exercises have been done for organizations to model cost behavior, evaluate different business scenarios, impacts of major internal or external factors on the organization, supply chain modeling or even changes of strategy on factors such as Economic Value Added, Present Values, Growth Rates, etc. Cost modeling is normally done using OLAP technology allowing the evaluation of multiple scenarios with ease.
Cortell offers a variety of training programs on costing including introduction into ABC systems, cost system reviews and cost system implementation courses. For a review please see our Training programs.
ValuMax is an Activity-based costing solution developed by Cortell over a number of years and has been used in a variety of industries and situations. For a review of this product visit our valumaxABC.com page.
Costing solutions have been provided in a variety of industries including Banking, Logistics, Health, Public Sector, IT, Manufacturing and Chemical, Tertiary Institutions and the Food and Beverage industries. For a review of our industry experience visit our Industries page.