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Helping banks craft cost-reduction and banking efficiency strategies that support high performance
Today’s economic climate creates a dilemma for banks. They must reduce costs and improve efficiency urgently—but without compromising their ability to grow revenue as the economic outlook improves.
Download: A Strategic Approach to Cost Reduction in Banking [PDF, 681 KB]
Based on its groundbreaking research and unmatched experience in helping leading banks achieve high performance, Accenture strongly counsels against arbitrary cost reduction. Such an approach risks cutting muscle as well as fat. Rather, cost-cutting should be part of a broader efficiency effort. Read more on how banks need to balance short-term tactical cost reductions with longer-term strategic cost initiatives to take a more strategic approach to cost reduction.
Read the Research Report: Achieving Sustainable Growth through Strategic Cost Management
Accenture recently surveyed 1,405 executives at large companies in the United States, Canada, France, Germany, Italy, Spain and the United Kingdom to understand their cost management experiences and plans. This report details the survey findings as they relate to North American banks, and provides insight on industry cost reduction initiatives as well as six recommended actions to create a high-performance efficiency bank.
Listen to or download the podcast: Achieving Sustainable Growth through Strategic Cost Management
Listen to Matt Podrebarac, lead for Accenture Banking Strategic Cost Reduction Services in North America, to learn how banks can transform their approach to strategic cost management and create an efficient organization that is well positioned for growth.
Innovation and Product Development
Accenture helps clients become high-performance businesses by taking an end-to-end, process-based approach to address key business challenges such as complexity reduction; lean manufacturing and operations; process innovation; strategic cost reduction; and growth through innovation.
Related Client Successes
Accenture has worked with leading international banks to achieve cost savings of up to 60 percent and provide the ability to scale up volumes rapidly at a low unit processing cost. Accenture’s breadth of vision, deep banking experience and wide range of tools help clients drive their cost transformation as part of a strategy to achieve high performance.
Accenture offers a range of methodologies and capabilities that will speed benefit delivery, including:
Experienced professionals with functional expertise to identify cost reductions and implement changes as well as reengineering experience leading more than 100 successful transformation/cost reduction programs across industries.
Proven assessment analytics providing rapid insights, practical solutions, and achievable outcomes.
Unique, proven methodologies, tools and frameworks that provide companies with quick results. These proprietary solutions include shareholder value analysis, customer value accelerator and a variety of tools to assess finance, operating models and strategic cost management.
Accenture offers banks a comprehensive set of services on a global scale to help them achieve their cost-reduction and efficiency goals as part of a broader strategy to achieve high performance.
Accenture has more than 2,000 experienced professionals experienced in business strategy that have worked with leading global companies. Our analytical skills are enhanced by real-world experience.
Finance & Performance Management
We have more than 2,250 people around the world who have experience implementing more than 100 successful finance transformation programs. Our services address the CFO agenda: corporate finance, finance operations, enterprise performance management and risk management. The services focus on enabling cost reduction and finance mastery.
Supply Chain Management
More than 15,000 skilled professionals in supply chain management have worked with over 1,000 clients across a broad range of industries. Accenture’s supply chain management services combine global industry expertise and skills to help companies transform their supply chain capabilities through strategy, sourcing and procurement, planning, manufacturing, product lifecycle management, fulfillment, and service management.
Talent & Organization Performance
Accenture has over 3,000 specialists in talent and organization performance with experience at more than 1,500 clients worldwide. We help clients transform the performance of their people using an integrated suite of proven strategies, methods, and tools in HR transformation, workforce transformation, organization and change management, and human capital management.
Customer Relationship Management
We have over 1,800 skilled professionals worldwide with experience helping over 1,700 clients transform the marketing, sales and service areas of their business.
Outlook from Accenture
Outlook is a journal of high-performance business.
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