TRG Blog

Top 4 Reason Why a Succession Plan Fails and How To Overcome Them

Posted by Rick Yvanovich on

The road to succession planning is fraught with pitfalls. Most short-sighted businesses view it as merely a “nice trend” to follow and cannot grasp the true nature of succession planning. Others give up getting buy-ins from members of the Board and top-level management. Some lack adequate tools to streamline the process.

Read More…

Topics: Talent Management

Step-by-step Guide to Developing and Managing a Budget

Posted by Rick Yvanovich on

A budget is a quantified version of your strategic goals. Therefore, having a sound budget in place is instrumental in driving your profitability and also in averting any number of adverse consequences that may arise as your business grows.  

Read More…

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

The Secret to Building and Managing an Effective Succession Plan

Posted by Rick Yvanovich on

Dominic Barton, global managing partner emeritus of McKinsey once commented on the importance of having a well laid out succession planning in an interview with Forbes: “There’s never been a more important time for leadership because of the volatility in the world today.” Yet, many businesses continue to ignore its importance and choose to march on without any formal succession plan in place.   

Read More…

Topics: Talent Management

Why Should You Adopt Succession Planning Today?

Posted by Rick Yvanovich on

Great leaders are the backbone of any organisation; but at some point these key incumbents will depart and leave behind vacant critical-mission positions that need to be filled. That is why succession planning is of utmost importance. By honing your talent to their full potential beforehand, you build a leadership bench strength that is ready for coping with any challenge and responsibility. 

Read More…

Topics: Talent Management

What is Zero-based Budgeting?

Posted by Thai Pham on

It is safe to say most businesses would resort to cost cutting initiatives in a time of tight margins and high risksHowever, a research by McKinsey shows that only 26% of those cost-reduction programs, still yield effective results after four years. CFOs, therefore, are increasingly turning to zero-based budgeting, ZBB, as a more sustainable approach to cost reduction.  

Read More…

Topics: Planning and Budgeting, CFOs, Financial Accounting Management Software

Managed IT Services: What Hoteliers Need to Know

Posted by Andrew Turton on

In their pursuit to meet the ever-rising expectation of travellers, the hospitality industry is increasingly adopting new IT technologies. Some daring brands even venture into the realm of Artificial Intelligence and the Internet of Things to quench the thirst for a "truly unique guest experience." Nevertheless, none of the "next-gen solutions" out there would work without an agile yet robust IT infrastructure. This is where managed IT services come into play. 

Read More…

Topics: Hospitality solutions

How Retailers Can Implement Omnichannel with Retail Pro Prism

Posted by Binh Pham on

For forward-looking retailers, the path of becoming an omnichannel business has just begun, with many more changes and investments are to be made. The leaders of the retail industry have already set the bar for high-quality services and true omnichannel experiences. For example, the scan-and-go store concept from Amazon has broken the norm of brick-and-mortar retailing and given new meaning to the omnichannel retail experiences. 

Read More…

Topics: Retail Management System, Retail Pro

Fixed Forecasting vs. Rolling Forecasting: Which One Is Right for You?

Posted by Rick Yvanovich on

In a global survey conducted by KPMG1 in 2016, over two-thirds of respondents, who are all senior executives, said they have some forms of rolling forecast in place. In order to thrive in this VUCA world, accurate forecasting seems more imperative than ever. Rolling forecasting, as a means to achieve that, is now a universal practice thanks to its proven capabilities. 

Read More…

Topics: Financial consolidation, planning and reporting, Enterprise Performance Management (EPM), Enterprise Resource Planning ERP

Succession Planning: 5 Common Mistakes & How to Avoid Them

Posted by Rick Yvanovich on

A poor succession plan costed Blackberry 4,500 employees and nearly $1 billion. While the absence of a succession plan is detrimental to the future growth of any business, rushing to draft one up without a deep understanding and careful consideration of all aspects involved can lead to unforeseen consequences. So, what are the tell-tale signs of succession planning failures?

Read More…

Topics: Talent Management

A Primer of Budgeting

Posted by Rick Yvanovich on

Budgeting plays a vital part in any organisation regardless of size. For some, the process of building a budget is downright tedious, time-consuming, and challenging. What's more, businesses have to worry about not only short-term budgets but also long-term ones. 

Read More…

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

Subscribe to TRG Blog

Upcoming Events

Latest Posts

Most Viewed Posts

Our Editorial Mission

rick yvanovich resized 174

 Rick Yvanovich
 /Founder & CEO/

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.

Subscribe to TRG Blog

Follow Us