We operate in an age where as customers we can be extremely selective in our choices. As discerning customers we no longer automatically return to a particular supplier but will shop around to ensure we get exactly what we want. Looked at from another perspective, as organisations , if we are to increase or even retain our existing market share, we must be sensitive to, and respond to ever changing needs. This means that we need access to understandable information about our systems, processes, costs and in short our performance. This article discusses how these factors contribute to the success of an organisation and how oCTAVe is instrumental in that success.
All organisations are subject to strict financial accounting procedures.
However, the General Ledger is based on historical information and provides little scope for looking forward. Information is rarely presented in a format which assists the day to day business, where operational management and staff can fully understand and interpret it. Costings systems, however, were designed to provide data which can be modelled to provide management information, which can be presented in various formats and levels of detail to aid the management decision making process from strategic to operational levels. To be the best, organisations need to know that they are operating in the most efficient and effective way. Transparency can only be achieved by correctly apportioning costs to services and products.