Recent TRG blog posts

Digital transformation refers to the implementation and utilisation of digital technologies in the business to achieve a competitive edge. Those benefits include greater efficiency for the stakeholders, stronger business agility, and many more. Many industries are taking advantage of this digital transformation agenda, and the Hospitality Industry is no exception.

Blog Topics: Hospitality solutions

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, Amazon Web Services

Human psychology is probably one of the most challenging issues to study today. Therefore, personality assessments require a lot of time and effort but might not always yield reliable results. A more systematic approach was developed to support this process - the HEXACO model of personality, created by Ashton and Lee, based on the work of Costa, McCrae and Goldberg.

Blog Topics: Talent Management

Amid the uprising digital transformation trend today, the vast majority of law firms still employ traditional offline marketing strategies. This leads to an exceedingly high cost for acquiring clients while the return is low. Let also not forget the great problem of the legal services, market saturation in many countries.

Don't panic as there is a solution: Inbound Marketing. This strategy, coupled with digital transformation and marketing automation tools, can result in a reduction of client acquisition costs and boost growth.

Blog Topics: Digital Transformation, Inbound marketing

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

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