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.
Recent TRG blog posts
Rick Yvanovich
Recent TRG Blog Posts
Cloud Operating Platform – What Is It and Does Your Company Need One?
Posted by Rick Yvanovich on Thu, Jan 4, 2024
Blog Topics: Technology trends, Cloud Computing, Digital Transformation
What are the Functions of a Hotel's Finance Team?
Posted by Rick Yvanovich on Wed, Jan 3, 2024
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
Blog Topics: Hospitality solutions, Financial Accounting Management Software, Infor SunSystems
How Infor Partners with AWS to Drive Innovations
Posted by Rick Yvanovich on Tue, Jan 2, 2024
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.
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 Sat, Dec 16, 2023
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.
Blog Topics: Digital Transformation, Inbound marketing
Common Accounts Payable Problems & Its Changing Role
Posted by Rick Yvanovich on Wed, Dec 13, 2023
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.
Blog Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software
Advantages and Disadvantages of Traditional Budgeting Approach
Posted by Rick Yvanovich on Tue, Dec 12, 2023
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.
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 Tue, Dec 5, 2023
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
Blog Topics: Hospitality solutions
Financial Management in the Hospitality Industry: the Best Practices
Posted by Rick Yvanovich on Mon, Dec 4, 2023
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.
Blog Topics: Hospitality solutions, Financial Accounting Management Software, Infor SunSystems
[Infographic] Understand the Difference Between Coaching and Mentoring
Posted by Rick Yvanovich on Thu, Nov 23, 2023
At the core, the relationships between mentors and mentees/ coaches and coachees are built on trust, respect, and confidentiality.
Blog Topics: Talent Management
The 6-Step Guide to Developing a Diversity and Inclusion Plan
Posted by Rick Yvanovich on Mon, Nov 20, 2023
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.
Blog Topics: Talent Management