Australia

Details

  • Industry: Financial Services
  • Type: White paper
  • Date: 20/09/2012

Embedding Productivity Disciplines 

Big, one-time cost reduction programs rarely deliver sustainable improvements to their overall cost structure. As any experienced weight watcher knows, crash diets do not work. Once you stop dieting, you just put the weight back on.
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KPMG and its member firms have found that this ‘cost boomerang effect’ shows that there is a clear imperative for executives to re-examine their approach to cost-reduction. In essence, financial services firms need to turn their recession-induced crash cost diet into a sustainable lifestyle change of productivity improvement.

 

This publication leverages our experiences and insights working with global financial institutions enhancing their productivity and implementing cost-reductions plans. In addition to an overview of our Embedding Productivity model, this paper outlines the two critical areas firms need to focus to 'keep off the weight'.

 

Key insights

  • With the growing regulatory and capital requirements, many firms are looking at reducing costs.
  • Enhancing productivity and implementing cost-reduction plans requires continuous productivity improvement.
  • Firms must focus on selecting the right business mix to drive revenue while maximising use of capital.
 

Financial Services

Our Financial Services practice can help financial institutions make better decisions about performance, growth, governance and prudential matters.