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TRG in the Board Room Blog

What to look for in a planning and budgeting solution

Posted by Oanh Nguyen on

Planning and budgeting provides valuable insights for managing risk, boosting corporate performance and shareholder value and making strategic decisions. Using a business model as the basis of the planning process enables the development of: charts of accounts; time divided by years/quarters/months; version control to store actuals/budgets/forecasts and other important data segments, which can be used to create the plans. Organisations should look for planning solutions capable of delivering flexible business models that are mapped to their unique business requirements.

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Topics: Planning and Budgeting, Infor CPM, Corporate Performance Management CPM

Keep accounting talent with you by technology upgrades

Posted by Rick Yvanovich on

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Topics: Performance management., Corporate Performance Management CPM, CFOs

4 Evolutionary Scales to Maximise Finance Team’s Performance

Posted by Rick Yvanovich on

Changes in industry and global market provide an opportunity for CFOs to re-evaluate the capabilities and responsibilities of the finance function, align new models and processes to the business, set stages and SMART objectives for more accurate planning, budgeting and forecasting, as well as improve strategic decision making for growth. In the last post, we discussed about four evolving roles of the modern CFOs, which are changed from traditional tasks of financial governance and control to a more strategic and entrepreneurship role in the organisation. But no matter what the roles are, the ultimate goal of CFOs is delivering the most effective decision that will lead the organisation into the future.

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Topics: Corporate Performance Management CPM, CFOs, Enterprise Performance Management (EPM), Financial Accounting Management Software

How to Run a Risk-free Business

Posted by Uyen Vu on

It should have been fun to run a business and profit from it. Business is still a great way for some entrepreneurs to create a legacy and profit from a system larger than one person. Yet, business has its risks. Whole you can work with some risks and mitigate them; some others are beyond our control. It’s the kind of risks that we can control what business owners have to think about.

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Topics: Corporate Performance Management CPM, Risk Management

Agile EPM: how leading corporations can make it

Posted by Rick Yvanovich on

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Topics: Planning and Budgeting, Corporate Performance Management CPM, Enterprise Performance Management (EPM), Financial Accounting Management Software

Time to revamp corporate financial planning: 8 points to remember

Posted by Thai Pham on

As the world is heading towards a slow recovery, businesses can expect some unexpected events along the way. Therefore, agility needs to be embedded in every business process, including corporate financial planning.

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Topics: Planning and Budgeting, Corporate Performance Management CPM, Financial consolidation, planning and reporting, Enterprise Performance Management (EPM)

The balanced scorecard and strategy management

Posted by Rick Yvanovich on

To effectively bridge the gap between strategy and execution, it is vital that companies address 4 areas: corporate goal clarification, process alignment, measuring and monitoring, integration and communication. The Balanced Scorecard, created by Robert Kaplan and David Norton, has emerged to be a powerful strategy management tool as it makes strategy become “everyone’s everyday job”.

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Topics: Planning and Budgeting, Corporate Performance Management CPM, Enterprise Performance Management (EPM)

Success factors of strategy and execution alignment

Posted by Rick Yvanovich on

In the last post, we outlined the alarming issue of a strategy gap in businesses nowadays and how it can be undesirably widened by failures in strategic planning and budgeting.  To gain a competitive advantage and increase business resilience, companies need to bridge this gap between strategy and execution, the task that requires serious dedication from everyone in an organisation. There are four factors of an effective strategy and execution alignment, from conveying what corporate goals really mean to identifying how they should be achieved.

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Topics: Planning and Budgeting, Corporate Performance Management CPM, Enterprise Performance Management (EPM)

Strategy and execution: The gap not yet closed

Posted by Rick Yvanovich on

It is hard enough to come up with an effective corporate strategy. It is even harder to execute that strategy effectively to achieve desirable outcomes. A 2009 study on employees found that 70% of them were confused about what they needed to do to support their company’s strategy. The same study, published in Fake Work by Brent D. Peterson & Gaylan Nielson, Simon Schuste, “half of all the work people did had nothing to do with their company’s strategy”. For the last dose of alarm, 73% of surveyed workers did not think their company’s goals are translated into specific executable work.

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Topics: Planning and Budgeting, Corporate Performance Management CPM, Enterprise Performance Management (EPM)

Evaluating and reporting KPIs

Posted by Rick Yvanovich on

 Now that you have completed the initial stage of building a KPI template , it is time to evaluate their validity or ask the question “How well are they measuring performance?” You should also determine the methods of KPI reporting.

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Topics: Corporate Performance Management CPM, Enterprise Performance Management (EPM)

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 Rick Yvanovich
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With TRG International Blogs, it is our mission to be your preferred partner providing solutions that work and we will make sure to guide your business to greatness every day.

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