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How Do You Develop An Intelligent Cost Reduction Framework?

Financial Executives International TV

IBM Global Business Services
Bill Fuessler, WW Financial Management Leader

Runtime: 8:58

Key Takeaways:

  1. Intelligent Cost Reduction (ICR) is designed to quickly “design out” rather than “hack out” required reductions, enabling cuts to be immediate and sustainable.
  2. Benchmarking processes against industry and function is a critical element of ICR.
  3. There are 3 primary ICR categories:
    • Process: 5-15% savings potential.
    • Technology: 10-25% savings potential.
    • Operating Model: 20-35% savings potential.
  4. An ICR Framework involves two primary phases:
    • Analysis & Design: Quantifies and prioritizes opportunities for cost reduction. Typically takes 6 weeks.
    • Delivery & Implementation: Tracks the “road map” to realize the “future state.” Typically takes 3-9 months.
  5. For more information on Intelligent Cost Reduction and other IBM Global Business Services, please go to: www.ibm.com/gbs/finmgmt.

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