It is safe to say most businesses would resort to cost cutting initiatives in a time of tight margins and high risks. However, 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.  

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. 

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. 

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. 

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?

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. 

Planning, Budgeting, and Forecasting (PB&F) is one of the three management processes that constitute Enterprise Performance Management (EPM). We have presented the basic principles of EPM and its other two components in a previous post. In this article, we will dive deeper into the PB&F process and discuss the similarities and differences among financial planning, budgeting, and forecasting.

Appeared in 2016, the term “ghosting” is first used to describe a situation for romantic relationships where a person “disappears” and cuts all connections with the other party without any explanation. Recently, this practice has expanded from the dating world to the workplace and became a nightmare for both candidates and employers. Fortunately, there are steps you can take in order to avoid being ghosted by candidates.

Panorama has listed SAP, Oracle, Microsoft Dynamics, and Infor to be their “Tier 1” ERP vendors. Back in 2017, TRG International published a simple infographic to dive deep into various aspects that make these brands to be the best of all. 

According to a study done by ClearCompany¹ in 2016, 68% of workers say training and development is the most important workplace policy. Nonetheless, many companies still view employee training as an expense instead of an investment. But despite all of the resources, time and effort put into making everything happens, many organisations fail to properly measure the effectiveness of the training.