WAYS TO IMPROVE THE COST MANAGEMENT PROCESS BY ITS MECHANISMS, TOOLS AND INFORMATION SUPPORT

Abstract

The article considers key approaches to cost management, since its articles are fundamental and clearly determine the success of the activity not only due to the receipt of cash receipts, but also from how the enterprise will be able to make contributions, as well as the degree of their targeted use. And this once again indicates the importance of cost management for the enterprise because it depends on this how goals, intentions, initiatives, as well as related measures will be implemented in real life by acquiring material forms in the form of products or other acquisitions.

This is what prompted the formation of the purpose of the article, which is determined by the study and research of cost management approaches to improving this process in accordance with methodological approaches, processes, conducting factor analysis and identifying ways to save such contributions.

Thus, the high effectiveness of cost management, as well as taking into account ways to improve this process, is not only the ability of the enterprise to achieve profitable indicators, such as increasing production volumes and sales of products, but also the selection of the most suitable from the existing lists of methods, which is capable of providing significant achievements. That is, such achievements are the payback and coverage of monetary contributions, their direction to achieve specific goals by developing material and tangible forms and implementing reproductions, studying factor influences. Since cost management is of paramount importance for each enterprise, on which its further ability to continue its own activities in general depends, and the determination of directions for further development in particular, the mechanisms and tools intended for this are of a complex nature. This also includes information support, which provides the necessary data for cost management regarding the determination of factor influences, allows you to form a strategic model, and finally, reveals ways to achieve savings on the contributions made.

This shows that the use of methodological approaches to improve cost management processes, which are mechanisms and tools, grounding in themselves the ways of their introduction and savings, which also includes information support, leads to the improvement and development of the enterprise through the transformation of its own activities.