Electronic invoicing (e-invoicing) is revolutionising how businesses handle transactional documents between suppliers and buyers. From cost reduction and automation to improved cash flow and enhanced relationships, e-invoicing offers a wide range of advantages while also helping to contribute to environmental sustainability by reducing paper usage and minimising the carbon footprint.

Blog Topics: Financial Accounting Management Software

International Financial Reporting Standards (IFRS) compliance is often seen as a mountainous and challenging workload for many businesses, especially those operating multi-nationally. However, beneath the surface of technical and accounting complexity lie many benefits waiting to be discovered. IFRS, in fact, is not as scary and daunting as it seems.

Shifting your mindset is key to embracing the IFRS journey. By understanding its advantages, you can navigate the transition with clarity and confidence. This blog will help shed light on the two main benefits of IFRS adoption as well as how suitable solutions can lessen the daunting task.

Read more: IFRS 17 Overview: What Is It For? Who Is Affected? Why Should You Care?

Blog Topics: Financial Accounting Management Software, Infor SunSystems

Cloud computing has revolutionised the way businesses operate, and at the heart of this transformation is the cloud operating platform. Often referred to as a virtual operating system, a cloud operating platform provides a sophisticated approach to navigating the complexities of cloud-based computing.

Blog Topics: Technology trends, Cloud Computing, Digital Transformation

The finance team plays a crucial role in the success of any hotel business. From managing financial transactions to ensuring compliance with tax regulations, the finance team provides valuable insights and supports informed decision-making.

In today's digital age, hotel finance teams can leverage modern, hospitality-specific cloud accounting software to streamline operations, improve accuracy and efficiency, and empower the team to make more than just informed and timely decisions.

In this article, we will explore the important functions of a hotel's finance team as well as the benefits of adopting dedicated accounting software.

Read more: Financial Management in the Hospitality Industry: the Best Practices

Contents

Functions in the finance team of a hotel

1. Financial accounting: The backbone of hotel finance

2. Cost accounting: Enhancing transparency and resource utilisation

 3. Tax accounting: Simplifying Compliance

4. Auditing: Ensuring accuracy and minimising risks

5. Managerial accounting: Empowering informed decision-making

Blog Topics: Hospitality solutions, Financial Accounting Management Software, Infor SunSystems

What motivates Infor to partner with Amazon Web Services (AWS)? How do both parties benefit from this collaboration, and what groundbreaking innovations are they able to achieve? Discover the efforts invested in strengthening the enduring relationship between these two influential technology giants in this article.

Blog Topics: Cloud Computing, Infor SunSystems, Digital Transformation

The international school landscape has never been more competitive. In Bangkok for example, where I am based, there are almost 80 international schools with new establishments opening every year, meaning that the competition to attract and retain parents - and the best teachers - is intense. This makes the school marketing team’s job more challenging than ever, as they try to cut through the noise and get their message to the right audience. 

Blog Topics: Digital Transformation, Inbound marketing

What enterprises today have an abundance of are pressures. For instance, the pressure of addressing challenges associated with planning and distributing budget rationally, or the pressure of finding an optimal financial solution.

Forward-looking CFOs have shifted away from traditional spreadsheets to a more sophisticated solution that can enable them to make more informed decisions based on real-time data and insights.

Blog Topics: Enterprise Performance Management (EPM)

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.

Blog Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software

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

Creating an annual hotel budget is a crucial financial planning exercise that sets the foundation for achieving strategic goals and objectives. In this article, we will explore what a hotel budget entails, key steps in the budgeting process, best practices for format and preparation, and tips shared by hoteliers on effective budget allocation.

Read more: 5 Most Common Budgeting Approaches and Their Pros & Cons

Blog Topics: Hospitality solutions