Recent TRG blog posts

Intercompany Accounting has always been a highly important process for the parent company to get done right. Though expanding the business is seen as a success, managing the accounting and finance side is not an easy job. Companies have always found the work to be significantly challenging and risky, and Intercompany Accounting is one of the top struggles. If done wrong, the company can deal with serious issues and errors in their final financial statements.

Operating a startup is challenging. As a startup owner, you have to wear multiple hats, and the last thing you want to worry about is keeping track of every single receipt. Thus, it is understandable to overlook the accounting function as you are trying to balance your time as much as possible. 

Financial services firms today still face the lingering effects of the latest global financial crisis. What's more, regulatory reform, complex reporting requirements, low interest rates on top of disruptive technologies have forced financial institutions to quickly adopt agile strategies and solutions to stay competitive.

Cost cutting has always been a indispensable tool for businesses during a recession. However, many cut-down programs merely lead to temporary results: the company may gain its targeted cost reduction, but rarely will they gain sustainable growth. There are 3 cost cutting mistakes you need to avoid so your business can grow again when the recession passes. 

In countries like Korea, Taiwan, and Singapore, e-invoices have been implemented since the late 2000s. The process of transitioning from paper-based invoices to digital ones certainly is complex due to complicated tax laws and regulations. However, they offer a multitude of benefits to both suppliers and buyers, ranging from eliminating human errors to reducing illegal/ invalid transactions, speeding up the approval process, and maintaining compliance.

Due to a paradigm shift toward the digital economy, expense automation has become increasingly advocated as the necessary move to maintain compliance. Automating the process of expense management helps save both time and money as well as systematise expense reports.

E-commerce has experienced a tremendous boost during the pandemic as physical stores are forced to stay closed. However, this also poses a challenge to e-commerce businesses because critical back-office functions, like accounting, may not be able to keep up with that immense increase in business volume.   

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.