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.
Recent TRG blog posts
Common Accounts Payable Problems & Its Changing Role
Posted by Rick Yvanovich on Wed, Dec 13, 2023
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
Financial consolidation: Dealing with intercompany transactions
Posted by Rick Yvanovich on Tue, Nov 14, 2023
Tracking intercompany transactions is perceived as one of the most common problems with financial consolidation. Intercompany transactions are transactions that happen between two entities of the same company. Not adjusting intercompany transactions results in consolidated financial statements that do not offer a true and fair view of the group’s financial situation.
Blog Topics: Financial consolidation, planning and reporting
The Use of Spreadsheets and Modern Cloud Adoption in Businesses
Posted by Rick Yvanovich on Wed, Nov 8, 2023
Data plays a vital role in empowering leaders to not only stay informed about their current financial performance but also contribute to financial planning and analysis, as well as ensure businesses maintain compliance.
Blog Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software, Technology trends, Cloud Computing, Analytics, Digital Transformation
Overcome Reporting Challenges of On-Premises Systems for the C-Suite
Posted by Rick Yvanovich on Thu, Aug 24, 2023
In today's digital age, relying on manual and traditional methods of generating reports using on-premises financial management solutions can significantly hinder the efficiency of the finance department.
Blog Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software
From On-Premises to Cloud: Strategy for a Successful Financial Management Transformation
Posted by Rick Yvanovich on Mon, Aug 21, 2023
Migrating your business data from on-premises infrastructure to the cloud is a big decision that needs serious consideration and a meticulous strategy to avoid interruptions and pitfalls.
Blog Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software, Cloud Computing
Solving 5 Common Accounts Payable Issues with Automation
Posted by Rick Yvanovich on Mon, Jul 24, 2023
Accounts payable, undoubtedly, plays a crucial role in the financial system of every company, making proper management essential for maintaining financial health. However, as businesses grow and thrive, manual AP procedures bring forth their fair share of challenges.
Blog Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software, Digital Transformation
Exploring Financial Management Solutions: An Overview of 6 Leading Software
Posted by Rick Yvanovich on Sat, Jul 1, 2023
Effective financial management plays a critical role in the success and long-term viability of organisations, regardless of their size or industry. The availability of advanced financial management software solutions has revolutionised the way businesses handle their financial operations, offering enhanced automation, real-time insights, and improved decision-making capabilities.
Blog Topics: Financial consolidation, planning and reporting, Enterprise Performance Management (EPM), Financial Accounting Management Software, Infor SunSystems
10 Key Questions for CEOs to Ensure Financial Management Implementation Success
Posted by Rick Yvanovich on Sat, Jun 17, 2023
A reliable financial management system will empower your business with accurate and timely information in one place. It will help you make informed decisions, develop effective financial plans, and stay compliant with regulations.
Blog Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software, Infor SunSystems
8 Strategies to Sidestep Financial Software Implementation Pitfalls (Pt.2)
Posted by Rick Yvanovich on Fri, Jun 9, 2023
In our previous blog post, we explored four strategies businesses should implement to avoid common mistakes in financial management software implementation. Today, we will uncover four additional strategies to help you and your business prepare effectively before embarking on your implementation journey.
Blog Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software