SYNOPSIS

A STUDY ON COST AND COSTING

MODELS

By,
Goutham R
DSBSPGDMA1802
CHAPTER 1
INTRODUCTION

Costing and Costing models helps in Breaking down the costs incurred in any business process
and is used to studying and analysing the effects of it . The comparison of cost with differe nt
time period as well as the project cost versus the incurred cost helps in finding out the areas of
improvement by following steps like Segmenting Expenses which are categorised based on the
format provided by the regulatory bodies and cost drivers which must be capable of converting
company’s goals , and once the relationship between cost and its drivers are obtained it can be
considered for modelling using various methods of cost modelling like Three Statement
modelling , Discounted Cash flow modelling , Forecasting model , Option pricing model etc.
The cost modelling is associated with various different variables which are linked to each other
and these complications are taken into consideration during Costing
This Project on Cost and Costing Models deals with the costing and costing models in
24[7]company to know how activity based costing and target costing can be used to reduce and
cost in its process and to increase the margin. It also aims at assisting management in price
fixation. Various Concepts like Financial Planning, Financial Estimation, Mobilization of
Financial resources, Cost analysis methods and theories and cost analysis ratios are studied
Also various cost models like Shared services, Business Applications, Business Services,
Business capabilities are studied with the help of attributes like User group, Fiscal period, Data
Source etc. Which in turn helps organisation improve the Quality of decision making, Enhances
the transparency of assumptions underlying various decisions and builds trust among stake
holders
The financial Statements of the organisation 24[7] are closely analysed and interpreted based
on the various costs that the firm has incurred and conclusion is drawn accordingly
COMPANY PROFILE

About US

As a competency and career development organisation, Madhu Finserv develops, enhances and
promotes select skill-sets those are deemed essential of changing times. Embedding ‘Value
Creation’ at the core of its vision, Our partners with best in industry organisations and empanels
domain experts to transform careers of diverse audience from industry and academia by
harnessing the power of skill-centric training programs. These programs are carefully
handcrafted to deliver tangible output for its learners by creating a distinguished biosphere of
latest learning technologies, effective content and experienced trainers.

Our Vision
To reshape growth of individuals & organizations globally by delivering excellent training &
services through benchmarked content, resources & state-of-the-art technology.
Our Mission
To continuously innovate in products, processes, people & markets and build the highest levels
of operational efficiencies to maximize customer value.
About the project guide

Name: Vivek Samavedam

Qualification:
Certified Public Accountant-Licensed from North Dakota USA
Certified IFRS Professional
SAP Certified FICO trainer
Oracle Functional Specialist
MSI Fellow Member
Work Experience: 8 year work experience in Audit, Accounting, Reporting, Taxation and
Corporate training.

Courses offered

Analytics
1. Certified Python Financial Analyst
2. Certified Python Marketing Analyst
3. Certified Python HR Analyst
4. Certified Python Machine learning Analyst
Certification in Finance
1. GST Certification
2. Income Tax Certification
3. SAP (FICO)- Training and Certification
4. Oracle ERP- Training and Certification
5. Certification in IFRS

Certification in management

1. Six Sigma White Belt

2. Six Sigma Green Belt
3. Six Sigma Black Belt
OBJECTIVES OF THE STUDY
 To Study the various aspects of cost through cost sheet of the company
 Analysing the costing models adapted by the company
 To study the cost allocation
 To study the cost effectiveness and Cost benefits at the company

SCOPE OF STUDY
 For The study, the research relates to the firnm 24[7],Bangalore office
 Their internal data has been reviewed for a period for 3 years

LIMITATIONS
 Data Applications
 Time constraints

RESEARCH METHODOLOGY
 Primary data – This is an Analytical study where in more significance is given to the
past/Historical data, But through intervene of top executives in finance we have
gathered some vital information
 Secondary Data – Secondary Data is collected through Profit and Loss account ,
Balance sheets and Cost sheets
CLIENT PROFILE

[24]7 is a software and services company that is redefining the way that companies interact
with consumers. Using artificial intelligence and machine- learning, the company’s customer
engagement platform assists several hundred million visitors across all channels, and engages
in 1.5 billion conversations annually, most of which are automated. Using [24]7 solutio ns,
many of the world’s largest and most recognizable brands are anticipating and acting on
consumer intent to create more personalized customer experiences. This shift to an intent-
driven engagement strategy results in an order of magnitude improvement in digital adoption,
customer satisfaction, and revenue growth. [24]7 aim to:

Know Consumer Intent

[24]7 give companies the unparalleled ability to know and act on consumer intent in
milliseconds. By applying the power of big data and machine learning, [24]7 developed
predictive models that have been tuned by more than one billion annual interactions and has in
depth knowledge of more than 70 consumer journeys across multiple verticals.

Deliver Memorable Moments

[24]7 help companies create moments that matter for consumers by acting on their intent and
driving successful outcomes. [24]7 continuously deliver personalized, on-brand experiences in
every channel, using data and design for continuous optimization.

Manage Journeys, Not Channels

[24]7 manages journey to deliver a holistic experience that transcends channels. As customers
travel along a journey context is maintained across channels. Customers never have to start
over.
Transition Easily
Customers can start anywhere with quick deployments that deliver rapid results and scale by
leveraging existing technology investments. Designed as SaaS from the start, [24]7's platform
is constantly improving while reducing the work required by IT. [24]7’s solutions are
enterprise-ready, secure, and scalable with hundreds of mission-critical deployments
worldwide.

Shared Success Business Model

[24]7 has led the industry with its outcomes-based, no risk model. Our success-based pricing
is based on achieving agreed-upon measurable outcomes. This means minimal upfront
investment and a sharp departure from traditional professional services models.

VISION & MISSION:

VISION:

To be recognized as the leading Global IT & Business Process Outsourcing Services.

MISSION:

Our Mission represents what we do each year. This is more than a set of business words,
because our Mission reflects who we are at our core, a technology- focused business having
more than 7000, highly dedicated, digital chat agents addressing over 127 Million Virtual
Agent Inquiries.