Chartered Management Institute UK, SL Branch and KPMG organise an evening presentation on “When Margins Matter”
View(s):The Chartered Management Institute (CMI) Sri Lanka branch, joined hands once again with their exclusive knowledge sharing partner,
Mr Dulitha Perera of KPMG
KPMG in Sri Lanka, to conduct an evening presentation on 7th August on the topic “When Margins Matter”, focusing on cost and margin management in the context of modern business environments.
Welcoming the participants Rohitha Mendis – President CMI said that it has been identified that most businesses operate in intensely competitive markets where price is most often “a given” and effective cost and margin management is therefore viewed as being an important pillar in driving business performance and profits. CMI in keeping with their motto of sharing professional knowledge along with KPMG thought the time was opportune to share some knowledge on the subject.
The highlight of the evening was a presentation by Ashvin Vellody, Partner –
Mr Rohitha Mendis, President CMI SL Branch
Management Consulting of KPMG India, on key considerations relative to effectively managing cost drivers. He emphasized on the importance of taking an organization specific, collaborative and function wide approach to cost optimization.
An eminent panel of corporate leaders that included the Chief Operating Officer of Hatton National Bank Dilshan Rodrigo, Chief Financial Officer of the Brandix Group Hasitha Premaratne, Group Chief Corporate Officer of Aitken Spence PLC Vipula Gunatilleka, Partner Management Consulting of KPMG in Sri Lanka Dulitha Perera and Ashvin Vellody, shared their views on the topic. The discussion was moderated by Kamaya Perera, Director – Advisory, KPMG in Sri
Panel discussion led by Ms Kamaya Perera of KPMG
Lanka.
Speaking on the theme and its relevance to the apparel sector, Hasitha Premaratne provided some insights as to how his organisation is currently reaping the benefits of taking timely initiatives to implement decisive and long- term cost management and revenue enhancement measures.
Vipula Gunatilleka, stressed on the importance of organisation and industry wide collaboration in effectively optimising costs. He went on to state that strategic collaborations, such as resource sharing initiatives implemented by players in the telecommunications sector are a prime example of cost benefits driven by industry wide collaboration.
Dilshan Rodrigo shared his experiences on how the banking industry has embraced innovation and technology as a means for cost and
Partcipants at the event
margin management. He went on to discuss how technology will play a pivotal role in facilitating cost effective functions and solutions within organisations.
Dulitha Perera during his presentation noted that organisations often turn to retrenchment and layoffs as a strategy for cost reduction, while ignoring other long- term approaches. He also mentioned that sustainability is a key feature of an effective cost management strategy and that strategists should not ignore the priority that should be given to key functions such as research, training and development.
CMI and KPMG hope to continue their partnership on similar knowledge sharing initiatives, bringing together industry professionals to share their expertise on topics that are of relevance to the Sri Lankan business environment.
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