Cost control mechanisms

Cost control, also known as cost management or cost-containment, can, and should, be used as a method to improve business cost efficiencies, and it helps to reduce costs.

Understand that your organization is constantly and consistently seeking cost and operational efficiencies, regardless of economic conditions. View cost control in a holistic fashion—from the view of your executive team, the CFO, COO, and the CIO/CTO. Your team should comprise people with expertise in finance, IT, and operations from a variety of backgrounds. Regard cost control as the nexus for your entire organization.