Cost savings is such a sweet, yet sensible phrase. In an industry that is experiencing a downward trend in return on assets (ROA) and pre-tax margin, liek we’re seeing in auto finance,then cost savings is a must. Pre-tax margin indicates the profitability of an industry and ROA is an indicator of how effective management is at allocating resources to convert investment into net income.
Bottom line: When the trajectory of the last five years points south for both margins and ROA, basically, your company or industry needs to find ways to operate more efficiently. Might we suggest automating your compliance management system?