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Costing leads to optimal planning.
Essential was that the system started without any initial values. Despite of not having data of previous years, obvious advantages were already noticeable after few months. Analysis of costing especially eases optimal future planning and they are able to forecast costs and budgets with increased accuracy. The annual result clearly displays business performance and expenditure.
Incurred costs can not only be evaluated, but also single cost centres can be popped up for detailed analysis. "It's easier now to do better decision making. We have gained better overview over our business performance, because information about investment is gathered in one place,“ ensures business economist Ehart.
Balance sheet now also includes unavoidable accruals. The modern management tools already considerate future developments in terms of capital budgeting.
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