Cost Management "Pulse-Check" 2023 | Page 7

Way forward | Creation of efficient structures

The opinion on dealing with cost changes differs between management and employees – clearly defined governance and an efficient organizational set-up are necessary for sustainable cost management
PERCEPTION OF COST MANAGEMENT COMMENT
Management
70 %
Employees
64 %
67 %
52 %
72 %
48 %
Transparent governance is crucial to the success of sustainable cost management
33 %
24 %
• Management rates both , the company ' s own attention to cost development and the monitoring of costs as stronger developed
• The question regarding clearly defined responsibilities for cost monitoring is answered very differently by executives and employees – the results suggest a need for action in most companies to create transparent governance and efficient structures
• In addition , very few employees have access to digital tools for simplification , standardization , and professionalization of cost monitoring ; in addition data protection is of concern
Higher attention of management
Increased cost monitoring
Clearly defined responsibilities for monitoring
Use of digital tools for cost monitoring
Source : goetzpartners Cost Management Pulse Check 2023
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