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Cost Congress 2013
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·         Participants at the Cost Congress 2013 here today concurred that given the current economic slowdown, Indian companies need to identify value drivers to increase competitiveness and push growth.

·         This view was highlighted by Anjum Parvez, Managing Director, Bangalore Metropolitan Transport Corporation, who said that Total Cost Management (TCM) did not apply only to individual companies but had a bearing on the entire country, affecting survival and sustainability at the macro level.

·         The theme for the two-day international conference organized by the Confederation of Indian Industry (CII) was aptly chosen as “De-risking value creation through innovation in Total Cost Management”.

·         He said, contrary to common perception, the public sector was facing the same challenges as the private sector in the market and “one has to manage costs innovatively while creating value at the same time.” He stressed on the need to not only collect data but analyse the same and undertake forecast planning.

·         Fiona Harvey, Regional Director (Performance and Emerging Markets), CIMA London, said they had entered into a partnership with CII to engage with industry to develop the domain of cost accounting and management accounting. “The idea is to play a proactive role to create leadership and share best practices,” she said.

·         Koushik Chatterjee, Chairman, Cost Congress 2013 and Group ED (Corporate & Finance), Tata Steel, expressed optimism at the growing acceptance of TCM by Indian industry. The scope of cost management has come far way from its earlier role of statutory cost accounting function to holistic approach aimed at enhancing value, he said, adding that the pressure in India and the world over was to utilize capital effectively.

·         The CII has developed the TCM Maturity Model as an enterprise-wide benchmark to assess cost management levels. The concept behind the Model was elucidated by A N Raman, Member CII TCM Working Group, Former President SAFA & Member IFAC, who said that more and more companies are coming forward even though it is a purely voluntary assessment.

·         The occasion also saw the distribution of the Maturity Model Plaque to exemplary companies and the release of the TCM Maturity Model Case Study Booklet.

·         Delivering the vote of thanks, Umesh R Shastry, Co-Chair, Cost Congress 2013 & VP & Head (Corp Finance & Accounts), Kirloskar Brothers Ltd, said that organisations are hard pressed to focus on cost management levers to create value, and the effort is to provide excellence in the pursuit of cost management.

·         Participants at the CII Cost Congress 2013 comprised a wide spectrum of professionals in both management and accounting from various fields and sectors along with representatives of public sector organisations, academia and media.

 
Description

CII organized Cost Congress 2013 on 27-28 November, 2013 at New Delhi.

CII - Total Cost Management Division is actively involved in providing Cost Management services to the Indian industry and the prime objective of the TCM division is to facilitate the National Movement on TCM in order to make Indian Industry cost-competitive.

Towards this initiative, we have institutionalized an annual flagship event Cost Congress.
The previous events have evoked tremendous interest amongst various stakeholders and were addressed by eminent personalities across the globe.

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Knowledge Resources
You will get access to following Knowledge Resources by subscribing to the Digital Library of this event.
 
Creating Value through better Cost Management
Mr Koushik Chatterjee, Group ED (Corporate & Finance) TATA Steel Ltd at the inaugural session of the Cost Congress 2013
CII-TCM and CIMA at Cost Congress 2013 by Ms Fiona Harvey, Regional Director, Performance and Emerging markets, CIMA, London
Mr A N Raman, Former President SAFA & Member IFAC at the inaugural session of the Cost Congress 2013
Release of TCM Maturity Model Case Study Booklet at the inaugural session of the Cost Congress 2013
Mr Anjum Parvez, IAS, MD, BMTC at the inaugural session of the Cost Congress 2013
Mr Umesh R Shastry, VP & Head (Corp Fin & Acc), Kirloskar Brothers Ltd at the inaugural session of the Cost Congress 2013
A CFO panel discussion on 'De-risking Value Creation through Innovation in TCM'
Mr R Umesh Shastry, VP & Head (Corp Fin & Acc), Kirloskar Brothers Ltd on ‘Value Creation through TCM Framework’
De-risking Value Creation through Innovation in TCM at Cost Congress 2013
An open house discussion on ‘Value Creation through TCM Framework’
Mr R Umesh Shastry, VP & Head (Corp Fin & Acc), Kirloskar Brothers Ltd on ‘Value Creation through TCM Framework’
Dr K A Palia, Executive Director - Finance, Godrej & Boyce Mfg Co Ltd on ‘Managing Volatile Cost Structure through Adaptive Business Models / Amidst Current Currency Market’
Managing Volatile Cost Structure through Adaptive Business Models
Managing Cost Structures amidst Current Currency Market
An open house discussion on ‘Managing Volatile Cost Structure through Adaptive Business Models / Amidst Current Currency Market’
Mr Umesh Shastry, VP & Head, Corporate Finance, Kirloskar Brothers Ltd on ‘Differentiating Cost Management for Sustainable Business Strategies’
Sustainable Business Strategies for Industry
Differentiating Cost Management for Sustainable Business Strategies - The ITC Experience
An open house discussion on ‘Differentiating Cost Management for Sustainable Business Strategies’
Mr M Hariharan, Director, Savoir Faire Management Services delivering summary proceeding of the day one at the Cost Congress 2013
Mr Asim Mukhopadyay, Head - Business Planning, Tata Motors - CVBU on ‘Aligning Cost Management, Value creation and Governance’
Aligning Value Creation, Governance and Cost Management
Aligning Cost Management with Value Creation and Governance
An open house discussion on ‘Aligning Cost Management, Value creation and Governance’
Mr Asim Mukhopadyay, Head - Business Planning, Tata Motors - CVBU on ‘Aligning Cost Management, Value creation and Governance’
Mr Nikhil Madgavkar, CFO, Mother Dairy on ‘Capital Project Management & TCM’
Capital Project Management: Creating Value through TCM
Capital Project Management & TCM - Case Study on Larsen & Toubro
An open house discussion on ‘Capital project management & TCM’
Mr Manoj Sethi, Sr. VP - Fin, Commercial & HRD, Subros on ‘Enhancing Organizational TCM Competencies through People and Technology’
Intelligent Data Quality Management
Enhancing Organizational TCM Competencies through People and Technology
An open house discussion on ‘Enhancing Organizational TCM Competencies through People and Technology’
Mr P Thiruvengadam, Senior Director, Deloitte Touche Tohmatsu India on ‘CII CIMA Survey results’
TCM Maturity Model Eevaluation by Mr Surendra Menon, CFO, Weir Minerals Ltd
CII-CIMA Collaboration at Cost Congress 2013
An open house discussion with Mr Peter Spence, Head of Performance Management, CIMA, London at the Cost Congress 2013
 
Charges to access Event
 
Participant TypeAmount (in Rs)
Member
2000
NonMember
2500