Testing is an essential part of software development, and is even more critical with the arrival of complex integrated systems with business transactions that need to be bulletproof to defects. It doesn’t really matter whether you do agile or classic waterfall, testing is still going to be a big part of your lifecycle, and so it is imperative that it be as efficient as possible without reducing the expected quality. But there is another variable to this equation, and that is the cost of testing which has become a concern for many organizations. This report is divided into two parts. The first focuses on cost tracking and capturing other variables that help us make decisions regarding our testing strategy. The second analyzes several options to improve our testing efficiency.