Finance

One of Europe’s main system banks “Strategy & Architecture department” decided to use CostPerform to simulate strategic improvement initiatives in several branches of the bank. In cooperation with their internal client, the Strategy & Architecture modelled many processes to products in order to get a clear understanding of cause and effect within those processes. Based on these models, the S&A department could simulate and advice on proposed process improvement initiatives and find new improvement areas. In the future, CostPerform will be deployed as the group-wide cost modelling software within the Group and divisional CFO decision support communities. One of Vietnam’s four main banks adopted CostPerform in 2013. The goals were to deliver a cost model to the CFO that shows detailed and as precise as possible cost information. The bank very kept to adapt to Europe’s ABC cost accounting principles. After a couple of months building and collecting data the model was ready and in use to analyze improvement potentials. The bank got the support of a consulting firm and run CostPerform on their own. A merchant bank in Europe has developed and implemented a cost allocation model primarily for justifying charges to third parties as well as providing a reliable and accurate basis for invoicing the cost to third parties. The costing model also provides department managers with information relevant to the management of costs and resources. The design and the implementation of the costing model have changed several times in the last 10 years in response to specific objectives.