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'.
- 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.