Usually means: Savings achieved by preventing costs.
Definitions Related words Mentions
We found 4 dictionaries that define the word cost avoidance:

General (2 matching dictionaries)
  1. cost-avoidance: Wordnik
  2. cost avoidance: Wiktionary

Business (2 matching dictionaries)
  1. COST AVOIDANCE: Accounting Glossary
  2. BusinessDictionary.com (No longer online)

Definitions from Wiktionary (cost avoidance)

noun:  (management, accounting) An expense one has avoided incurring.

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