Recent TRG blog posts

Rick Yvanovich

Rick is a versatile leader that wears multiple hats: he is USA Today and Wall Street Journal best-selling author, a Speaker, an Entrepreneur, a Techie, a Brit, a Baby Boomer, and a professional bean counter (hence the FCMA CGMA FCPA). Rick has worked for 30+ years in supermarkets, the accounting profession, breweries, newsagents, defence manufacturing, IT, property development and BP in the UK, China, Singapore, Switzerland and Vietnam. Rick views Coaching as essential to leadership and is inculcating the value in his own organisation. Thus, his current focus is on Ikigai, Life, Executive, Performance, Team, and Coaching Culture Coaching. Rick inspires and transforms professionals for consistently higher achievement through coaching.
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Recent TRG Blog Posts

Infor Earns Prestigious Recognitions on Constellation ShortList 2024

Posted by Rick Yvanovich on

Infor has just been listed on the prestigious Constellation Research ShortList, securing not one, not two, but three coveted spots, which are for Services-Centric Cloud ERP, Configure-Price-Quote (CPQ), and Enterprise Application Platforms (EAP).

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Blog Topics: Cloud Computing, News, ERP, Digital Transformation, Cloud OS

Best Practices for Implementing Cloud Financial Management in Hotels

Posted by Rick Yvanovich on

Implementing new software can be a daunting task, especially when it comes to financial management in hotel businesses. However, with the right precautions and strategies in place, the process does not have to be overwhelming.

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Blog Topics: Hospitality solutions, Financial Accounting Management Software, Cloud Computing

3 Evolving Aspects of Leadership & Management in the Digital Age

Posted by Rick Yvanovich on

In a world of constant change, the importance of leadership in business success is among a few things that will always hold.  What may evolve, however, are how effective leadership is defined and which competencies of leaders and managers matter the most.

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Blog Topics: Talent Management

Why a Growth Mindset Is What You Need for Life Success

Posted by Rick Yvanovich on

One’s mindset is defined as the perception of achieving goals in both the professional and personal lives. In other words, a mindset helps define one’s personality. It reflects the way an individual views and acts toward life, how they perceive success and failure, as well as determining their emotional, cognitive, behavioural and neural responses to these experiences.

Read more: What is a Growth Mindset?

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Blog Topics: Talent Management

Growth Mindset at Work: Why and How?

Posted by Rick Yvanovich on

Our mindset, which reflects our beliefs and attitudes towards our abilities, is a powerful determinant of our behaviour and influence on others. Extensive research has shown that our mindset plays a crucial role in shaping our future success. Essentially, our beliefs can be the driving force behind our achievements or the obstacles that hold us back.

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Blog Topics: Talent Management

Wired for Success: How Inbound Marketing Elevates Technology Businesses

Posted by Rick Yvanovich on

In the rapidly evolving landscape of the technology sector, staying ahead requires more than just cutting-edge products and services; it demands innovative and strategic marketing approaches. Inbound marketing has emerged as a transformative methodology, revolutionising the way technology companies attract, engage, and retain their target audience.

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Blog Topics: Digital Transformation, Inbound marketing

The Benefits of E-Invoicing (Electronic Invoicing)

Posted by Rick Yvanovich on

Electronic invoicing (e-invoicing) is revolutionising how businesses handle transactional documents between suppliers and buyers. From cost reduction and automation to improved cash flow and enhanced relationships, e-invoicing offers a wide range of advantages while also helping to contribute to environmental sustainability by reducing paper usage and minimising the carbon footprint.

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Blog Topics: Financial Accounting Management Software

Unveiling the Strategic Benefits of IFRS

Posted by Rick Yvanovich on

International Financial Reporting Standards (IFRS) compliance is often seen as a mountainous and challenging workload for many businesses, especially those operating multi-nationally. However, beneath the surface of technical and accounting complexity lie many benefits waiting to be discovered. IFRS, in fact, is not as scary and daunting as it seems.

Shifting your mindset is key to embracing the IFRS journey. By understanding its advantages, you can navigate the transition with clarity and confidence. This blog will help shed light on the two main benefits of IFRS adoption as well as how suitable solutions can lessen the daunting task.

Read more: IFRS 17 Overview: What Is It For? Who Is Affected? Why Should You Care?

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Blog Topics: Financial Accounting Management Software, Infor SunSystems

Cloud Operating Platform – What Is It and Does Your Company Need One?

Posted by Rick Yvanovich on

Cloud computing has revolutionised the way businesses operate, and at the heart of this transformation is the cloud operating platform. Often referred to as a virtual operating system, a cloud operating platform provides a sophisticated approach to navigating the complexities of cloud-based computing.

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Blog Topics: Technology trends, Cloud Computing, Digital Transformation

What are the Functions of a Hotel's Finance Team?

Posted by Rick Yvanovich on

The finance team plays a crucial role in the success of any hotel business. From managing financial transactions to ensuring compliance with tax regulations, the finance team provides valuable insights and supports informed decision-making.

In today's digital age, hotel finance teams can leverage modern, hospitality-specific cloud accounting software to streamline operations, improve accuracy and efficiency, and empower the team to make more than just informed and timely decisions.

In this article, we will explore the important functions of a hotel's finance team as well as the benefits of adopting dedicated accounting software.

Read more: Financial Management in the Hospitality Industry: the Best Practices

Contents

Functions in the finance team of a hotel

1. Financial accounting: The backbone of hotel finance

2. Cost accounting: Enhancing transparency and resource utilisation

 3. Tax accounting: Simplifying Compliance

4. Auditing: Ensuring accuracy and minimising risks

5. Managerial accounting: Empowering informed decision-making

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Blog Topics: Hospitality solutions, Financial Accounting Management Software, Infor SunSystems

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Rick Yvanovich

 Rick Yvanovich
 /Founder & CEO/

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