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Cost management

Articles, reports and other resources that enable accountants in business to make a real difference to their organisations by providing them with practical information on the latest thinking in cost management.

AI is not magic

Artificial intelligence (AI) and automation make the seemingly impossible possible. They magically bring machines to life – driving cars, trading stocks, teaching children or providing healthcare. In Prediction Machines, Avi Goldfarb and two fellow economists debunk this magical myth and recast the rise of AI as nothing more than a drop in the cost of prediction.

Office efficiency gains

A quick look around your office will show you that the workplace is changing. Demand for more flexible ways of working has seen a boom in approaches such as shared spaces and co-working. While these all have an effect on the way we work, what will change for the finance function? In the first in a new series of features on the future world of work, Alison Coleman examines some of the major trends shaping today’s organisations.

Smart cuts

Managing and cutting costs remain right at the top of management’s agenda. Andrew Wileman describes how to do this intelligently.

Why don't back-office efficiency drives work?

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A granular look at back-office operations shows why across-the board cuts make no sense. Marco Ferber, Jürgen Geiger and Klaus Kunkel explain.

Improving undocumented processes

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In most organisations there are hidden opportunities to reduce costs and create spare capacity. Finance can – with employees’ help – uncover and exploit these, as Brian Plowman explains.

Keep your showers tepid even when the boiler is back on

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The tight cost controls imposed out of necessity in tough times, are also a good idea when conditions improve, says Simon Hill. Below he outlines his top tips for retaining those finance ‘good hygiene’ habits.

Cost to support decision making

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To be an effective strategic business partner, the professional accountant in business needs to have a deep and critical understanding of the organisation’s costs. Stathis Gould from the International Federation of Accountants (IFAC) explains some recently produced guidance on this topic.

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