On the implementation level, the project promoted the implementation of IMTs, as they are thought to be a successful way of achieving its objective. In particular the project focused on the following six main areas of business operations, to reduce operating costs: (a) Supply Chain, (b) Sensors, Utilities & Energy Saving, (c) People & Processes, (d) Green Building, (e) Renewable Energy (f ) Marketing and Social Media. These six areas were further segmented into a total of 14 cost sub-areas.The objectives of the project were the following: • The development and testing of an innovative tool and methodology to identify sources of excessive costs in the entire framework of operations of the audited company and to identify action plans for cost-cutting.• The development and pilot application of Action Plans for cost cutting to a part of the audited firms.• Awareness and dissemination of the results. Achievements: Results and impact• The project created and validated an innovative methodology which leads to actual cutting of operating costs in companies. • The project publicity activities raised awareness and diffused a positive image of the project participants, the benefited firms and of the subcontractors. BenefitsThe CROSS.INNO.CUT project had the following benefits:• Creation of links / channels of cooperation between relevant stakeholders.• Creation and validation of innovative tools and methods for operational cost cutting.• Continuation and enhanced operation of enterprises in terms of competitiveness. • Business development and creation of new jobs.• Improved Branding of the local firms.• Awareness of key business stakeholders in the eligible area on the possibilities offered by ETC Programmes.• Strengthening of the above stakeholders for improved participation in cross-border activities in the futureIdentification of main features of good practicesThe following features of good practice may be attributed to the CROSS.INNO.CUT project:• The project demonstrated productive cross-border cooperation between academic and industrial entities that allowed achieving its objectives.• An innovative diagnostic tool and a complete methodology for operational cost cutting in SMEs was developed. • The diagnostic tool is fully web-based, supports diagnosis and audit on excessive cost in a company independently of size or business sector. In other words, the tool is usable in any company and transferable to other regions. • During the project, experience was gained by all project participants in the efficient outsourcing of complex consulting. • Effective project management methods were adopted