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.
Recent TRG blog posts
Common Accounts Payable Problems & Its Changing Role
Posted by Rick Yvanovich on Wed, Dec 13, 2023
Blog Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software
Advantages and Disadvantages of Traditional Budgeting Approach
Posted by Rick Yvanovich on Tue, Dec 12, 2023
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
Financial Management in the Hospitality Industry: the Best Practices
Posted by Rick Yvanovich on Mon, Dec 4, 2023
Financial management lays the very foundation of a successful business. Likewise, the most successful hotels rely on fundamental financial management principles to manage their property profitably.
Blog Topics: Hospitality solutions, Financial Accounting Management Software, Infor SunSystems
Accounting Best Practices for Logistics and Transportation Companies
Posted by Rick Yvanovich on Sat, Nov 18, 2023
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.
Blog Topics: Financial Accounting Management Software
5 Most Common Budgeting Approaches and Their Pros & Cons
Posted by Rick Yvanovich on Fri, Nov 17, 2023
Establishing a budget can be quite daunting, as is selecting the optimal budgeting method that aligns with your business' unique model and requirements. In this blog article, we will delve into the five most prevalent approaches to budgeting, delving into their advantages and disadvantages.
Blog Topics: Planning and Budgeting, Financial Accounting Management Software
Digital Transformation in Finance and The Changing Role of CFOs
Posted by Rick Yvanovich on Mon, Nov 13, 2023
The role of CFOs today has evolved significantly, becoming more dynamic and responsive to changing demands from internal stakeholders and external customers. The modern CFO is now involved in strategy creation and business transformation initiatives, acting as a strategic advisor to the CEO and the rest of the C-suite.
Blog Topics: CFOs, Financial Accounting Management Software, Technology trends, Cloud Computing, Infor SunSystems, Digital Transformation
Reaching Success with SaaS Accounting Software for Hospitality
Posted by Rick Yvanovich on Thu, Oct 12, 2023
As hotels grow, the volume and complexity of financial data increase significantly. Typical spreadsheets or basic accounting systems cannot handle the scale and complexity of a growing hotel, leading to inefficiencies, errors, and reporting challenges.
Blog Topics: Hospitality solutions, Financial Accounting Management Software, Cloud Computing, Digital Transformation
Can Your Bank Reconciliation Process Be More Efficient?
Posted by Rick Yvanovich on Thu, Oct 5, 2023
Bank reconciliation is a vital aspect of financial management for any business, and it involves comparing the balances and recorded transactions of a company's external bank statements to the cash balances and transactions recorded in their general ledger.
Blog Topics: Financial Accounting Management Software, Cloud Computing
Poor Cash Flow, Overdue Payments Thwart Your Accounts Receivable Processes?
Posted by Rick Yvanovich on Tue, Oct 3, 2023
Accounts receivable is the lifeblood of any business. Establishing a proper account receivable management process allows you to take control of your cash flow and streamline payments and invoicing. However, many find the process daunting.
Blog Topics: Financial Accounting Management Software
Infor SaaS: The Trusted Cloud Infrastructure for Your Business Solutions
Posted by Rick Yvanovich on Wed, Sep 13, 2023
Businesses today rely heavily on cloud solutions, applications, and services to drive their operations, enhance collaboration, and deliver seamless customer experiences. To support these technologies effectively, a powerful and agile cloud infrastructure is crucial.
Blog Topics: Hospitality solutions, Financial Accounting Management Software, Cloud Computing, Analytics, Enterprise Resource Planning ERP, Digital Transformation