The Society of Cost Management (SCM) was founded in 2010 as the first international professional organization dedicated to cost management. It aims to promote best practices in cost management through an online community that allows members to share ideas and connect globally. SCM takes a low-cost, virtual approach using new technologies and social networking to provide most information to members 24/7. It generates revenue through advertising and premium services while differentiating itself as a costing association that also covers some accounting issues. The organization's mission is to promote sound cost, profitability, and performance measurement practices to help businesses and institutions make informed decisions.

1. Society of Cost Management
www.costmgmt.org
www.costmgmt.com

2. An Unfilled Need
• No organization of this type existed in the U.S.
• No organization worldwide addresses the needs
of Cost Management
www.costmgmt.com

3. A Global Organization
• Founded in 2010, the Society of Cost
Management is an international organization
committed to promoting best practices in cost
management.
• Our approach is simple: Leverage technology to
create a borderless community to share ideas,
promote best practices, and connect people.
www.costmgmt.com

4. SCM Focus
The Society of Cost Management is the first
international professional association dedicated
to cost measurement, cost management, and
decision support; and brings together cost
accountants, consultants and academia from
around the world.
The Society is a new type of professional
association, using a low cost, virtual,
collaborative model. We will make use of new
technologies on the internet so that members
have access to most information 24/7, and
business can be conducted in real time.
www.costmgmt.com

5. SCM Business Model
• The internet and new technology will be used extensively
to create a ‘virtual’ professional association. Take
advantage of the features available on the professional
networking sites.
• Anything that is not clearly part of our expertise should be
outsourced (ie running a store on the website).
• Revenue will come from advertising and sales of premium
services.
• We differentiate ourselves as a costing association that
also covers some accounting issues. The Society will act as
the focal point for the cost management community,
facilitating open discussion and not promoting any
product, service, or methodology. We are also global,
reaching out to cost management professionals wherever
they may be.
• Partner with other organizations and/or businesses for
those things that are clearly not in our competency.
www.costmgmt.com

6. SCM Mission Statement
The Society of Cost Management (SCM) has been created to
promote and accelerate the development, reforms, dissemination and
adoption of sound cost profitability, and performance measurement
and management practices in organizations of all sizes and types, not
for the objective of personal gain on the part of any particular
member, but on the broad platform of general good and the
advancement of institutional and business interests.
SCM fulfills this mission by providing technical, educational and
communication resources to those business and professional
organizations, especially non-accounting professional societies,
whose members require a sound understanding of the economics
that underlie their business or institution if they are to gain insights,
make sound decisions, and take effective actions. The Society is
intended to assist accountants seeking progress and change by
getting buy-in from their co-workers to progressive management
accounting methods, and by influencing boards of directors in their
governance role and executive teams in their leadership role .
www.costmgmt.com