Mr. Nagesh Babu
Sr. Counsellor | Confederation of Indian Industry
Total Cost Management Division
Survey No,. 64, Kothaguda Post, Near Hi-tech city
R R Dist, Hyderabad – 500084
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Total Cost Management (TCM) Maturity Model ® is a Cost Management assessment program that is conceptualized and designed by Confederation of Indian Industry (CII).
This model, first of its kind in the world with IPR (Intellectual Property Right), can be used to guide cost leadership across a business unit or an entire organisation.
It aims to provide seamless link between overall business strategy, business model and cost management system of the organisation
TCM Maturity Model ® defines five maturity levels to grade organisation’s cost management system on a hierarchy
TCM Maturity Model ® can be viewed as a set of structured levels that describe how well the cost management of an organization can reliably and sustainably produce required outcomes. It can be used as a benchmark for comparison and as an aid to understanding.
TCM Maturity Model ® defines, measures, assesses and reports cost maturity of organisations in five hierarchical levels:
1) Minimal
2) Functional
3) Operational
4) TCM Enabled
5) Exemplary
Levels of Maturity
Level 1: Minimal – At this level, cost awareness is only at senior management level. Organisation is financial report driven and it is inadequate for managerial reporting and control
Level 2: Functional – Information technology is interfaced and system driven data support is available at this level
Level 3: Operational –Effective utilization of cost data for improvements and operational support for budget is available
Level 4: TCM Enabled – At this level, there is integrated cost system is in place, ERP solution provides total solution for cost management requirement
Level 5: Exemplary – Internal system is designed to minimize and absorb both national and global uncertainties at this level
TCM Model Framework
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TESTIMONIALS
The CII-TCM Model acts as a catalyst to integrate an all-pervading cost culture throughout the organization. It creates a thrust for cost control and cost reduction and enables the organization to focus on its cost structure continuously so as to achieve systems, procedural and financial benefits."
- Kirloskar Brothers
Methodology followed by CII and Evaluators for assessing TCM practices helped to identify the gaps in process followed at JCBI. It further helped to understand the best practices & Structures followed by other Companies that are helping to improve on the process followed by JCBI
- JCB India
Concepts like moving from cost accounting to cost management, linking cost structures to strategy, risk management were completely new ideas and their interpretation in our context would not have been occurred to us with going through the process of assessment. We could experience the passion of the CII-TCM for evolving Cost Management further.
Godrej & Boyce
