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

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

How Infor Partners with AWS to Drive Innovations

Posted by Rick Yvanovich on

What motivates Infor to partner with Amazon Web Services (AWS)? How do both parties benefit from this collaboration, and what groundbreaking innovations are they able to achieve? Discover the efforts invested in strengthening the enduring relationship between these two influential technology giants in this article.

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Blog Topics: Cloud Computing, Infor SunSystems, Digital Transformation, Amazon Web Services

International School Marketing Trends: 8 Best-in-Class Strategies for 2024

Posted by Rick Yvanovich on

The international school landscape has never been more competitive. In Bangkok for example, where I am based, there are almost 80 international schools with new establishments opening every year, meaning that the competition to attract and retain parents - and the best teachers - is intense. This makes the school marketing team’s job more challenging than ever, as they try to cut through the noise and get their message to the right audience. 

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Blog Topics: Digital Transformation, Inbound marketing

Common Accounts Payable Problems & Its Changing Role

Posted by Rick Yvanovich on

Our previous article has emphasised the impacts of Accounts Payable (AP) on vendor relationships, and a well-managed AP can enable companies to take advantage of vendor payments.

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Blog Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software

Advantages and Disadvantages of Traditional Budgeting Approach

Posted by Rick Yvanovich on

Budgeting is a cornerstone of financial planning in businesses. The traditional budgeting approach, with its roots in historical accounting practices, has been a mainstay in the corporate world. However, this method has faced criticism, particularly from proponents of more dynamic budgeting methods like Beyond Budgeting.

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Blog Topics: Planning and Budgeting, Financial consolidation, planning and reporting, Enterprise Performance Management (EPM), Financial Accounting Management Software

Hotel Budget: Steps in the Budgeting Process for Hotels

Posted by Rick Yvanovich on

Creating an annual hotel budget is a crucial financial planning exercise that sets the foundation for achieving strategic goals and objectives. In this article, we will explore what a hotel budget entails, key steps in the budgeting process, best practices for format and preparation, and tips shared by hoteliers on effective budget allocation.

Read more: 5 Most Common Budgeting Approaches and Their Pros & Cons

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Blog Topics: Hospitality solutions

Financial Management in the Hospitality Industry: the Best Practices

Posted by Rick Yvanovich on

Financial management lays the very foundation of a successful business. Likewise, the most successful hotels rely on fundamental financial management principles to manage their property profitably.

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

[Infographic] Understand the Difference Between Coaching and Mentoring

Posted by Rick Yvanovich on

At the core, the relationships between mentors and mentees/ coaches and coachees are built on trust, respect, and confidentiality.

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Blog Topics: Talent Management

The 6-Step Guide to Developing a Diversity and Inclusion Plan

Posted by Rick Yvanovich on

In the last two articles, we discussed the advantages of diversity and inclusion in the workplace as well as some obstacles the HR department might face during the process of building a diverse, equal and inclusive environment. In the next step, we are going to sketch out a thorough plan that helps your organisation to achieve this goal.

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Blog Topics: Talent Management

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Rick Yvanovich

 Rick Yvanovich
 /Founder & CEO/

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