Services > Management Consulting > Costing and Cost Management Systems

Cost accounting is not glamorous, but it is a critical part of managing a successful business. While revenues are fluid and subject to market forces, expenses are controllable and manageable. It is imperative, then, to apply some cost accounting technique to evaluate where to assign costs for financial and operational decision-making purposes. There are a number of methodologies and each has it's pros and cons, however use of the wrong system can result in less than optimal performance.

HMC experts have the experience and the tools necessary to help clients better understand the true costs in a production process or service environment. We identify and apply the right methodology to ensure that you have the information you need to make the best decisions. This could mean an Activity Based Costing (ABC) technique, which more accurately reflects the true cost of producing various products or providing various services, or perhaps Throughput Accounting. There are situations where a Traditional Cost Account is most appropriate, in which case HMC will help establish the most effective allocation techniques. Choosing the right method and applying it correctly is critical to making appropriate, cost-effective decisions that have a big impact on the bottom line.

At HMC, we use software tools developed by ABC Technologies (now SAS), a leader in the field of activity based costing, and we apply the lessons learned from the Theory of Constraints. These tools enable us to allocate our clients' costs to the activities that produce them, and then analyze more accurately how those costs flow through their operations. This analytical technique produces an accurate assessment of production or service costs and yields better business decisions.

HMC has applied these new tools in a wide variety of companies and situations and has achieved remarkable results for its clients. But don't just take our word for it! Read our client success stories.

To find out how HMC can help you manage your costs more effectively, contact an HMC representative today.