The scope of the project was to upgrade the cost centers classification in the company with the aim to provide an overview of the expenditures that are earmarked for research and innovation, and consequently ensure costing accuracy. Initially, we assessed the efficiency of the existing costing system in order to uncover weaknesses and possible dangers. With the consent of the Accounting Manager and the Head of Informatics Department, we redefined the cost centers per activity and assembly line, and as such we recorded and properly classified all expenses. At a third stage, we offered training sessions and tutorials on the highly sophisticated, user-friendly system, so as to enable the company’s personnel to fully implement the new methodology for the next fiscal year. Finally, after overseeing the implementation of the new costing system, we analyzed the results and carried out the debugging process. In a nutshell, through our actions a high level of transparency was accomplished, allowing management to better monitor the types of expenses incurred, realize their impact on profitability, improve product costing and channelize resources towards fruitful investments.