More and more retailers are recognising that customer management can bring long-term value to their business. Since applying these strategic approaches is not an easy task, retailers should consider implementing an appropriate retail management system to make all processes invariably smoother. Such a system will aid enterprises in:
Nowadays, travellers are also becoming more tech-savvy. Hence, self-service technology namely mobile apps, check-in kiosks and lobby touchscreen become the important tools that bring opportunities to increase sales and bookings for hotels. According to Taylor Short, who researches hotel management systems for Software Advice, hotels are figuring out that meeting a tech-savvy travellers’ expectations for connectivity and independence not only increase customer satisfaction, but also open up new revenue channels that didn’t exist before. In this article, we will walk you through how these self-service technology can help hotel boost revenue and increase customer satisfaction.
In the increasingly volatile and regulation-filled business world, the ability to adapt is of utmost importance. But handling change and complexity is a challenge for companies, especially when they try to step out of the domestic environment and into the global zone.
A 2011 report by Gartner Inc. indicated that the era we are living in today is “the era of information”, and to business, “optimal use of information assets will be critical to business success, and organisations that can derive the best understanding from it will have a major advantage in a globalised and competitive world.” However, the vision is still far to Vietnam businesses, where the amount of information is overwhelmed yet lacks the tools to generate it right. In this post, we will look at 3 main hindrances to good decision making – the root cause to downgrade business performance.
Hanoi, 10th September 2013 – Following its previous version, the seminar “Office of the CFO for Hospitality: A new way of working to maximise profits” had ended successfully in Hanoi.
The event was well-received by over 60 representatives from about 35 Hospitality organisations in Vietnam and the media. With years of experiences working with hospitality organisation globally, our experts, Mr. Rick Yvanovich - FCMA, CGMA, FCPA (Aust.) and Mr. Pham Hong Thai - Deputy General Director, TRG International shared their viewpoints and knowledge about the new concept for CFOs and top managers in Hospitality industry. The main point that was emphasised during the event is that, CFOs nowadays is not only responsible to financial management but also to the decision-making process of the organisation. Nonetheless, as a common practice, not just CFOs who need to make decisions but all managers within the organisation do. Thus, it is important to be able to get the information they need, before they need it by leveraging new technologies. Such that, CFOs and top managers nowadays have all the technologies they need to help them overcome financial challenges and improve their hotel management and performance process.
This seminar also carries one CPD hour for people who have CPD requirements such as CIMA, CPA, ACCA and CGMA and networking session for the audiences to meet and discuss with peers, seniors and expert in the Hospitality industry.
By continuing to introduce this Office of the CFO concept in Vietnam, especially for the Hospitality industry, TRG hope to build up stronger relationship with all hospitality organisations, and we hope we could help them shine by providing advices, working quietly and brilliantly in the background, identifying and implementing the right solutions (systems) for them so they can focus more on their core businesses.
Ho Chi Minh – August 2013 – The 10th anniversary of World Blood Donation Day, hosted by AmCham Vietnam on 2nd August 2013, attracted hundreds of people from large corporations in Ho Chi Minh City. This is the second time TRG attended Amcham Blood donation day in 2013. By joining this event, we wish to lend a hand in helping the society save lives.
Hanoi – August 19th, 2013 – Following the success of previous seminar in Ho Chi Minh City, the “Office of the CFO for Hospitality: new ways of working to maximize profits”, TRG once again bring this concept to the audiences in Hanoi. The seminar - which is on Tuesday, September 10, 2013 at Hilton Opera Hanoi - is going to expect more than 120 representatives who are CEOs, CFOs, and Chief Accountants, Hotel owners, directors and managers from 3 and above star rating hotels, resorts and other companies in the hospitality industry countrywide.
HCM City – August 8th, 2013 – Following the success of previous seminars, TRG worked together with CIMA, and Infor to introduce the “Office of the CFO: change the way work is done” seminar to companies in southern Vietnam one more time. The event was well received by more than 120 representatives who are CFOs, CEOs, Chief Accountant, General Directors and Managers from hundreds of companies in various industries in Vietnam, especially in Ho Chi Minh City.
The financial consolidation process in a corporation usually begins with capturing business transactions and events and closing sub ledgers into general ledgers. It often involves reconciliations of financial statements from different subsidiaries as well as dealing with minority interest and intercompany transactions . As companies grow, so does the number of entities needing to be consolidated. The consolidation process can be complicated for corporations with multiple subsidiaries and associates, especially when their consolidation system is manual, or not integrated.