A Summary and Critique of Comex: a Cost Management Expert System

Topics: Cost, Activity-based costing, System Pages: 3 (780 words) Published: July 2, 2011
A Summary and Critique of COMEX: A Cost Management Expert System

Danijela Grahovac and Vladan Devedzic (2010) wrote an article about an expert cost management system called COMEX (cost management expert system). The article offers an explanation of what the system is designed to do and how it assists billing departments within a company in particular. The system assists in the gathering of costing data pertaining to products, services and customers (Grahovac & Devedzic, 2010). Cost management is vital to the success of any business thus this article is very useful. Beyond that, the article is very detailed and descriptive so as to not leave many features unclear. COMEX, specifically, can serve to improve the billing department process. This function is directly related to the concept of reengineering. If implemented correctly, COMEX can supply a company with improved cost related decision making which leads to continual improvement. This continual improvement is a fundamental aspect of activity-based costing systems (Grahovac & Devedzic, 2010). Cost management systems (CMS) cover a vast and important area of business. They are a prescribed set of methods for planning cost-generating activities pertaining to a company’s short and long-term strategies (Grahovac & Devedzic, 2010). Businesses must continue to develop new and improved processes for achieving product and service quality. These factors have direct effects on customer satisfaction which is a vital part of a company’s success. A successful information system provides managers with pertinent data to help them meet their goals. COMEX has been proven to be such a system. Its objectives include being user friendly, displaying data in a logical sequence, to be cooperative with the billing department of any company, and to be open to further development, among others (Grahovac & Devedzic, 2010). COMEX offers a solution for simplifying a costing system while also making it more efficient. This type of...

References: Grahovac, Danijela & Devedzic, Vladan. (2010). COMEX: A cost management expert system.
ScienceDirect Physical Sciences College Edition. Belgrade: School of Business
Administration, University of Belgrade.
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Management System Essay
  • Management Info Systems Essay
  • Japanese Cost Management System Research Paper
  • Essay on Job Cost Accounting Systems
  • Essay on Cost Accounting & Management Decisions
  • cost management TI case Essay
  • Health Information Systems Summary Essay
  • Life Insurance Information Management System Essay

Become a StudyMode Member

Sign Up - It's Free