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Industries - Banking and Financial Services

 

 
A Strategic Approach to
Cost Reduction in Banking
Achieving High Performance in Uncertain Times. Senior banking executives face a vexing dilemma. In this difficult economic environment, there is great urgency to reduce costs and improve efficiency. But cutting indiscriminately or too deeply may severely hamper the ability to grow revenues when the economic outlook improves. In Accenture's view, arbitrary cost reductionóbased on rationales of "sharing the pain equally across the organization" ó is no longer sufficient, and risks cutting muscle as well as fat. Instead, financial institutions need to take a more strategic approach by viewing cost-cutting as part of a broader efficiency effort. Balancing short-term tactical cost reductions with longer-term strategic cost initiatives will leave banks much better positioned for future high performance. pdf

 

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Status: 10. September 2013