We re-invented
Cost and Profitability Analytics

Built from the Ground Up, rapidABC uses a novel approach to Activity-Based Costing implementation based on four key design principles:

1.    Quick Implementation Process
Unlike traditional tools that require cost models to be built at low levels of detail regardless of complexity, rapidABC uses a high-level method for the simple components, and a clean, functional drag-and-drop approach for the more complex ones. This dramatically speeds implementation, thereby reducing both initial and ongoing effort and cost. 
While rapidABC can import available data, often the data required is not readily available from automated sources. To speed implementation, rapidABC also employs a unique front-end data entry facility to allow your team to enter driver volumes themselves instead of requiring a custom IT extract.   
2.    Best Practice Methodologies Delivered in a Simple Way
Traditional ABC uses percentage-of-effort studies that require frequent surveys and assumptions to remain relevant. In practice, this is rarely done well and the results are hard to explain or justify.  Second-generation ABC software tools incorporated Time-Driven Activity-Based Costing as a way to address these problems, however analysts often find these tools too complex to implement and maintain.  In contrast, rapidABC’s third-generation approach incorporates a stunningly simple user interface to implement all methodologies.  You’ll be amazed at how easily you can build, explain and maintain accurate cost and profitability models with rapidABC.
3.    Advanced, Integrated Reporting and Analysis
A good costing model just isn’t enough. To gain real insights, you need the ability to deeply analyze costs and profitability across multiple dimensions and over time, slicing and dicing to reveal the true profit and cost drivers in your company.  rapidABC provides a rich analytic toolset to help you make decisions quickly, accurately and with confidence.
4.    Driving Down the Cost of Implementation and Ownership
ABC software has been traditionally purchased and installed on in-house servers and installed on local computers.  You know how hard it is to get time from your IT department to support this, and how expensive (thousands of dollars per seat) it can be to purchase, install, configure and maintain this environment in-house.  
With rapidABC, there is nothing to buy and no IT support required to install, operate or maintain. rapidABC requires only a browser on any computer – PC or Mac - to access its cloud-based technology. We provide a completely managed, fully secure and supported environment with a very low monthly operating cost.  
rapidABC gives you the tools that large corporations use at a price your company can afford. See how easy and affordable it can be to realize value from Costing and Profitability.

A Complete Solution

More than just another software package, rapidABC employs a rich set of advanced tools, and a growing library of industry-specific templates to help you get a head start on your modelling.  We know Best Practices and how to use them effectively.  Our team includes deeply experienced practitioners to help you get started.  As well, leading, experienced consulting firms are partnering with us to bring specific geographic, industry and functional knowledge to best meet your needs.

Better Information
Makes Better Decisions

Measure the True Profitability of Products and Customers

Create a complete and actionable view of the activities your company performs for each product and customer – both above and below the Gross Margin line.  Arm yourself with insight. Identify and retain the most profitable customers and products, and develop pricing and service strategies to improve profitability on the rest.

Strategically Set Prices

Set pricing strategies, premiums and discounts based on a complete and accurate knowledge of your true costs. Price to cover the costs of special requirements, non–standard billing, exception handling, and manual processing.

Measure and Reward on Profitability, not Revenue

By measuring the true bottom line of each division or business unit you will be able compensate your executives and sales team based on profit, not just revenue.  

Reduce Operating Costs in a targeted and sustainable manner

Are you blindly cutting costs? Cut them surgically by identifying and targeting wasteful activities, such as rework, unnecessary changes, error handling and exception processing. Quantify the expected savings from improvement initiatives to support business cases, and measure improvements achieved over time.

Set your organization’s capacity appropriately

Measure and optimize capacity utilization. This includes both staff and equipment capacity. With rapidABC you will be able to manage and plan the levels of capacity used and needed in your organization for the volume of work performed or anticipated.  Calculate costs either on a “full-absorption” basis, or automatically exclude the cost of unused capacity.

Create Transparency and Action – move beyond allocations

Reduce the cost of shared groups in your company. Transform your back office activities from cost centers to business partners. Measure and charge for services as consumed by front office business units instead of arbitrary allocations. Empower business units to make decisions about the services they need, and compare costs to external benchmarks. 

Unique Features

Flexible and Powerful Cost Modelling

  • Easy to use interface

Manage all of your structural elements and their hierarchies – cost centers, accounts, activities, drivers and cost objects – with a common, drag-and-drop user interface

  • Flexible Attributes for Easy Analysis

Add user-defined attributes to any structural element, with instant access to those attributes for reporting and analysis

  • Efficient Modelling

Take advantage of flexible cost–pooling to isolate or aggregate specified accounts and centers in order to speed up and simplify cost models. 

  • Best Practice Methodologies

Best-practice cost models use many different methodologies in combination. rapidABC supports all current methodologies, and our unique interface allows you to develop and manage Time-Based Activity-Based Costing techniques in a quick and intuitive manner.

  • Unlimited Cost Objects

Cost Object dimensions are unlimited and fully user-defined.  Activities can be associated with multiple pools or cost centers, allowing for multi-branch models using a compact activity structure, and for comparing the cost of activities across similar service groups.

  • Visual Assignments

Assignments are made visually, by linking source, target and method through our intuitive graphical user interface. Modelers can instantly see how assignments are being made, and identify those assignments not yet modeled. This unique structure allows the modeling work to be completed or adjusted in record time.

  • Full Support for Reallocations

Support assignments can be made from one area to another on a flexible basis – for example, to assign HR costs to other cost centers based on the number of staff.  Unlimited assignments are possible using recursive logic.

Deep and Powerful Reporting

  • Cube-based reporting

rapidABC’s costing results are stored in a multi–dimensional cube structure. Users can quickly access an extensive library of predefined reports. Perform deep analysis and reveal hidden insights with our feature-rich set of analytic tools.  Reports can viewed online, or downloaded to Excel or PDF for wider distribution.

  • Trace Results Back to The Source

Reports provide on-line traceback from results to the General Ledger level.  Unlike some tools, rapidABC results are not a “black-box”; transparent reporting and an intuitive online interface provide a clear understanding of the way costs are assigned, including notations on the basis of assignment. Spend less time defending the calculations and more time using the information to make decisions.

  • Optimize Reports for Users

Custom reports can be developed for different users within your organization, such as branch managers, sales teams, executives, and operation heads. Define security parameters to provide the right access for the right people at the right time.

Enterprise-Level Approach

  • Multi-user Tools

rapidABC is fully collaborative, allowing for multiple users (with access roles defined by the security administrator) in data entry, modeling and reporting.

  • Support for Global Needs

rapidABC meets the needs of national and global companies, with multi-language and multi-currency support. Both the interface and the structural elements can be rendered in multiple languages, allowing for a single chart of accounts or activity dictionary with multi-language versions.