Cutting Costs in Financial Industry Boosts Profits and Efficiency
The article discusses how banks and financial institutions aim to reduce costs to make more money. They focus on understanding the cost of money to estimate payments and profits. The researchers looked at how to reduce costs in the financial industry using activity-based costing and supply chain methods. They found that calculating service costs is more complex and expensive than calculating product costs. By using these methods, financial institutions can better estimate expenses and profits in their supply chain systems.