Wizdom Announces Wizdom ABCLive! Software for Activity Based Costing!

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Wizdom announced the release of Wizdom ABCLive!-a web server application designed to quickly and accurately collect data and produce resource and activity drivers for populating Activity Based Costing (ABC) Models.

Wizdom Systems, Inc.®, celebrating its 17th year as a leader in providing Business Process Reengineering (BPR) software, training, and solutions, today announced Wizdom ABCLive!-a web server application designed to quickly and accurately collect data and produce resource and activity drivers for populating Activity Based Costing (ABC) Models.

IN THE HARD COPY THERE IS A PICTURE HERE OF THE NOTIONAL OVERVIEW.

Wizdom’s Wizdom ABCLive! provides a web-based data collection instrument, which can be easily tailored to any organization’s needs through a database administrator web portal. The software is highly flexible and provides the means to change activities and cost object taxonomies at any time in the model building or data collection process. Wizdom ABCLive! provides a convenient place to document activity definitions, model reference numbers and employee cost information. Wizdom ABCLive! automates the front end process of collecting data for Activity Based Costing studies in professional organizations where direct labor drivers are the most difficult to develop and compute.

One satisfied DoD customer with considerable model building experience said, “Wizdom ABCLive! reduced the process of developing our model drivers from months to hours with a significant increase in accuracy!”

The significant work in ABC lies in the difficulty of populating the models with reliable data. Wizdom ABCLive! eliminates manual and labor intensive processes by providing and off he shelf collection and reporting system. For many organizations the high cost of maintaining models precludes the organizations from getting the information they need to manage. Wizdom’s ABCLive! solves this problem and provides a simple way to collect data and compute drivers which are accurate and easy to obtain through web-based surveys that are easy for the workforce to understand.

IN THE HARD COPY THERE IS A PICTURE HERE OF THE DATA COLLECTION PROCESS.

Wizdom initially built Wizdom ABCLive! for the Army Research Institute (ARI) in Alexandria, VA. This web-based instrument has provided a fast, easy and accurate method to survey all personnel in the Institute’s ABC analysis. While Wizdom ABCLive! is highly customizable, the first survey step typically collects the percent of time each individual spends on predefined activities over the course of the time period to be analyzed.

After the professional identifies the processes in which he or she is involved, Wizdom ABCLive! collects information about each activity and cost object that the individual worked on during the analysis period. This is done by the individual entering the percentage of time spent working on work products, projects, and programs as they relate to overall activities performed. Then the software computes a single Business Unit resource and activity driver for entry in the ABC model. In addition, Wizdom ABCLive! provides the organization with the ability to manage the users and to export cost data reports directly as well as to interface with other popular ABC software.

“Wizdom ABCLive! is an exciting product because it will provide organizations with the knowledge and flexibility in determining the cost of its work products, programs and packages,“ stated Steven Kroll, Product Manager for Wizdom Systems. “Specifically, it will facilitate build/buy decisions, provide insight to profitable work products and programs, eliminate waste by providing visibility of non-value added activities and save implementation time and money.

Wizdom supports all of its products and services with intensive world class out of the box and customized training. Wizdom ABCLive! is available directly from Wizdom or from any of its VARs around the world.

About Wizdom

Since 1986, Wizdom has been the recognized leader in providing clients with innovative process-based business and software solutions. Wizdom’s integrated software, training and consulting enables industry and government clients to communicate, plan and execute a unified strategy. Wizdom helps both the public and private sector to meet its objectives by aggressively pursuing new opportunities and employing the best business practices. Wizdom’s corporate headquarters is located in Naperville, IL, a western suburb of Chicago.

For information on Wizdom’s complete range of products and services, contact Robin Davies at (630) 357-3000 ext. 3010, robind@wizdom.com, or visit Wizdom’s website at http://www.wizdom.com

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Dennis Wisnosky