TRG Blog

Global Management Accounting Principles Explained in 800 Words

Posted by Rick Yvanovich on

Businesses, no matter how big or small, all want to make high quality, impactful business decisions. In order to be able to do so, the business must be equipped with accurate, fact-based and timely data. This is where management accounting comes in.

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Topics: Financial Accounting Management Software, CFOs

Why Management Accounting is Essential for Sustainable Success

Posted by Thai Pham on

In today’s ‘VUCA’ world—characterised by volatility, uncertainty, complexity and ambiguity— it is becoming harder and harder to get right. As discontinuity becomes the norm and the most established business models come under threat, business leaders may need to adapt their models or develop new ones. How can organisations achieve sustainable success in a constantly changing environment?

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Topics: Financial Accounting Management Software, CFOs

Revamping Corporate Financial Planning: 8 Points to Remember

Posted by Thai Pham on

As the world is heading towards an uncertain future, businesses can expect some unexpected events along the way. Therefore, agility needs to be embedded in every business process, including corporate financial planning.

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Topics: Enterprise Performance Management (EPM), Financial consolidation, planning and reporting, Financial Accounting Management Software, CFOs

What is Investment-based Budgeting and Why It Matters

Posted by Thai Pham on

Shortcomings associated with the traditional budgeting approach can undermine the true value of the process. Budgeting should be less cost-driven and more investment-based, i.e. all forecasted costs of a department should be attached to deliverables—the products and services that department delivers to other departments or to the clients. Doing so will make budget decisions investment decisions.

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Topics: Financial Accounting Management Software, CFOs

How Will Blockchain Redefine the CFO’s Role?

Posted by Thai Pham on

Known as the technology behind Bitcoin, blockchain can be applied in a wide array of applications for business, not just limited to only the cryptocurrency arena. Even though still in its infancy, blockchain technology is believed to redefine the finance function.

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Topics: CFOs, Technology trends

How to Implement a Continuous Governance, Risk, and Compliance Program

Posted by Thai Pham on

Companies spend millions of dollars developing and documenting their processes, policies, and controls, yet have little visibility into whether they’re being followed. With thousands of transactions to screen and systems being accessed by hundreds or thousands of employees whose statuses change daily, the process of monitoring for breaches—either accidental or intentional—can be both expensive and overwhelming. A strategic and automated approach is, therefore, essential.

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Topics: Financial Accounting Management Software, CFOs

Redefining Finance: Four priorities for the modern CFOs

Posted by Thai Pham on

In a more digitalised world, the finance leaders are expected to be forward-looking, evolved from their traditional role to provide data-driven analysis and insights. However, in reality, many CFOs still find it is difficult to keep up with the development, and therefore, is unable to deliver deep insights to support the risk management to spot new opportunities, weather economic shocks and volatility.

In July, Workday released its global “Finance Redefined” study, conducted by Longitude, which surveyed more than 670 finance leaders across the Americas, Europe, Asia Pacific, and South Africa to get their vision and strategy on the future of the finance function and finance leadership.

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Topics: CFOs, Financial Accounting Management Software

Detecting and Preventing Duplicate Invoice Payments

Posted by Thai Pham on

Duplicate invoice payments occur far more frequently than most organisations realise. On average, approximately 0.1% to 0.05% of invoices paid are typically duplicate payments—which for a medium-size organisation with annual costs of $100 million over a three year period, could represent a loss of $300,000.

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Topics: Financial Accounting Management Software, CFOs

Beyond Infor SunSystems 6.3 – Cloud  Security  A.I.  and More

Posted by Thai Pham on

Infor SunSystems, among the first Infor’s products hosted in the cloud, is about to have some more major upgrades: smoother integration with other systems, better security, and functional enhancements.

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Topics: Financial Accounting Management Software, CFOs

The Changing Role of CFOs in Digital Transformation

Posted by Thai Pham on

Contrary to popular belief, Digital Transformation is as much finance-driven as it is technology-driven. In fact, the CFOs’ role and vision in the entire Digital journey are highly critical. A digital CFO will be responsible for the evaluation of the cost-effectiveness and adding value in the digital processes thus helps enlarge the organisation scale.

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Topics: CFOs, Financial Accounting Management Software

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 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.

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