A major element of failure has been the tendency to implement customer management ideas without first identifying the firm’s resources and its competitive strengths. Retailers need to spend time considering the following factors:

I was once called into see a new client who had a problem they wanted to discuss: "We undertook research about 18 months ago on how we could improve our customer experience. Our customers told us we needed to improve our billing. We have just spent $X million on a new billing system and it has taken months to implement. It's now been running for some time and yet our customer satisfaction scores haven't moved at all. What is the problem and can you help?"

A major element of failure has been the tendency to implement customer management ideas without first identifying the firm’s resources and its competitive strengths. Retailers need to spend time considering the following factors:

If embracing new technologies wasn’t enough of a challenge, today’s marketplace presents an increasingly difficult challenge to provide the right service to the consumers that shop within them. Given the penchant for being constantly connected, the consumers of today are more informed today than any previous generation, and therefore are requiring a different approach when it comes to ‘closing’ the proverbial sale. The retailer is faced with a consumer that is often more informed about a given product than most of the staff within the stores they are shopping.

If embracing new technologies wasn’t enough of a challenge, today’s marketplace presents an increasingly difficult challenge to provide the right service to the consumers that shop within them. Given the penchant for being constantly connected, the consumers of today are more informed today than any previous generation, and therefore are requiring a different approach when it comes to ‘closing’ the proverbial sale. The retailer is faced with a consumer that is often more informed about a given product than most of the staff within the stores they are shopping.

When it comes to budgeting, the traditional method used is spreadsheets. However, over the years, spreadsheets have demonstrated themselves to be insufficient to handle budgeting in the ever changing business world. Hence, dedicated corporate budgeting solutions were born to deliver the accuracy, agility and responsiveness that companies so desire. A powerful budgeting solution should help businesses adopt budgeting best practices, such as:

When it comes to budgeting, the traditional method used is spreadsheets. However, over the years, spreadsheets have demonstrated themselves to be insufficient to handle budgeting in the ever changing business world. Hence, dedicated corporate budgeting solutions were born to deliver the accuracy, agility and responsiveness that companies so desire. A powerful budgeting solution should help businesses adopt budgeting best practices, such as:

Infor is pleased to announce the general availability of Infor SunSystems Mobile 1.1.0, available for download in the Apple App Store^SM. 

There are several functions in the finance team of hotels, each serving a different purpose in hotel financial management. Whilst some of these may overlap, they include: financial accounting, cost accounting, tax accounting, auditing and managerial accounting. With the advent of technology, hotel accounting software has gained a significant role in helping these finance function of hotels.

In today’s modern business environment, accounting is not solely about getting the numbers right anymore. It is how the data generated from accounting can contribute to decision-making, and thus drive growth. The same applies to accounting for hotels.