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ABC and ABM : Together or separate?
Finance & Accounting
Pages 8 (2008 words)
Globalisation has brought along radical changes in the ways in which businesses are carries out.The technological improvement in the different countries has made the world a bigger platform for competition. …
The technological improvement in the different countries has made the world a bigger platform for competition. These changes can be noticed in the world of information in the financial as well as the non financial fields. Most of the organisations in the present day rely on the data and subsequently the information about the various performance metrics of the different functions, employees as well as the demands of the markets and the end users. Most of the organisations at the present day depend on the costs systems in various areas of their businesses like the designing of the product offerings which would meet the needs of both the customers and the enterprises. The businesses would be able to reap their desirable amount of profits and the expectations of the customers would be fulfilled. The cost systems would also act as a signalling parameter that would indicate any kind of discrepancy in the production quality as well as efficiency in the production processes. The employees would also be assisted in their day to day activities which would help in their process of learning. This method would also help the suppliers and the distributors on the negotiation of the prices and the quality as well as to reach to the target customer segments. Therefore the management of the cost systems through the implementation of the new technology has become an essential part of a business to survive the competition in the world platform. ...
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