Recent TRG blog posts

The recent global pandemic has caused traumatic financial impacts on all industry, and manufacturing is not an exemption. According to a recent survey conducted by the National Association of Manufacturers, 78.3% of manufacturers expect disruptions in both their financial and operational performance. This is a significantly higher percentage compared to the 48% of cross-industry companies concerning the same issue.

Every business can leverage the benefits of the right accounting software, and manufacturing businesses are no exception.

Companies operating in the logistics and transportation industry such as airlines, cruise liners, railways and shipping/trucking firms face several accounting and operational challenges that can impact their net earnings. That is why it is critical that good accounting practices are followed to manage their cash flow and liquidity. 

The healthcare industry has recently found itself sandwiched between the worst pandemic in living memory and profound disruptions such as smart systems to standardise front and back-office operations, and value-based payment models to enable providers, payers, and patients to achieve the best possible treatment outcomes at the lowest costs. 

Accounting for manufacturing businesses is complex as it has a lot to deal with inventory valuation and costs of goods sold to determine the most appropriate value of the finished items. 

In a post-pandemic world, logistics companies need to ensure they are giving their best performance by leveraging state-of-the-art IT solutions that allow them to automate and optimise every step of their operations. This also applies to the accounting function.

E-commerce businesses have experienced tremendous growth during COVID-19, which is expected as non-essential brick-and-mortar retailers have had to go into shutdown. 

The top priority for healthcare organisations is to deliver effective treatment at optimal costs. As such, medical practitioners and the finance team must collaborate to alleviate the patient's physical and financial pains. 

There are reasons why Infor SunSystems is the chosen financial management solution of more than 2,200 hospitality companies worldwide. The system is designed to transform the way you collect, analyse, manage, and report financial information. More important, it can help your hotel business drive the bottom line and improve guest experience through timely and actionable insights. 

Intercompany accounting is an all-important process that any parent company must get right. If not done correctly, it can gravely hinder the preparation of the company's consolidated financial statements. The following best practices for intercompany accounting will make this process much more straighforward and hassle-free. 

Read more: Why does your company need an accounting software?