CMA international webinar on ‘Measuring and Managing Customer Profitability’ today

Thursday, 20 May 2021 02:26 - - {{hitsCtrl.values.hits}}

Gary Cokins, CPIM

The Institute of Certified Management Accountants of Sri Lanka (CMA) will organise a webinar on ‘Measuring and Managing Customer Profitability’ today, 20 May, from 6 p.m. to 7:30 p.m. via Zoom.

The webinar will be conducted by Gary Cokins who is an internationally recognised expert, speaker, and author in advanced cost management and performance improvement systems.

He is the founder of Analytics-Based Performance Management, an advisory firm located in Cary, North Carolina. Gary received a BS degree with honors in Industrial Engineering/Operations Research from Cornell University in 1971. He received his MBA from Northwestern University’s Kellogg School of Management in 1974.

The objective of the presentation is to identify which types of customers are worth more to retain, grow, acquire, or win-back? And types are not worth pursuing? And how much should you optimally spend on each type of customer micro-segment? The internet is irreversibly shifting power from sellers to buyers. Suppliers must react. Earning, not just buying, customer loyalty is now mandatory. A popular term in CRM circles is customer lifetime value (CLV) – measuring each customer as if they are an investment with an ROI. Is this another fad or a real need?

Cokins’ presentation will cover the key areas on ‘The six eras of management accounting including the shift from product and service-lines to a customer-centric one’, ‘The continuum of direct costing from project accounting to standard costing to activity-based costing (ABC)’. ‘Basic concepts about activity-based costing (ABC)’, ‘Why “cost-to-serve” expenses (e.g., distribution, marketing, selling, customer service) expenses are more important than product and service-line expenses’, ‘How to quickly design and implement a customer profitability measurement system in weeks, not months, using rapid prototyping’ and ‘Actions taken with the information to make customers more profitable’.

This webinar is meant for CEOs, COOs, CFOs, financial officers and controllers, managerial and cost accountants, financial and business analysts, budget managers, strategic planners, marketing and sales managers, supply chain analysts, risk managers, CIO and information technology staff and boards of directors.

The webinar will conclude with a question and answer session where participants will also have an opportunity to discuss practical applications and obtain clarifications via chat option.

Those who wish to attend are requested to e-mail [email protected].