More and more companies are beginning to realize that cost management needs to be a key part of their business strategy. However, in practice enterprises rarely implement the processes and IT structures required to accurately identify and optimize costs. What is needed is active cost management based on the established “Enterprise Product Costing” (EPC) method: An integrated EPC system not only standardizes calculations throughout the enterprise, it also helps users perform costing across different locations and departments. Every department works on the basis of uniform standards. Development, product and manufacturing costs are fully transparent in every phase of the product life cycle. Businesses discover ways to cut costs early on in the process.
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