Recent TRG blog posts
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.
Tracking intercompany transactions is perceived as one of the most common problems with financial consolidation. Intercompany transactions are transactions that happen between two entities of the same company. Not adjusting intercompany transactions results in consolidated financial statements that do not offer a true and fair view of the group’s financial situation.
Blog Topics: Financial consolidation, planning and reporting
Data plays a vital role in empowering leaders to not only stay informed about their current financial performance but also contribute to financial planning and analysis, as well as ensure businesses maintain compliance.
In today's digital age, relying on manual and traditional methods of generating reports using on-premises financial management solutions can significantly hinder the efficiency of the finance department.
Migrating your business data from on-premises infrastructure to the cloud is a big decision that needs serious consideration and a meticulous strategy to avoid interruptions and pitfalls.
Accounts payable, undoubtedly, plays a crucial role in the financial system of every company, making proper management essential for maintaining financial health. However, as businesses grow and thrive, manual AP procedures bring forth their fair share of challenges.
Effective financial management plays a critical role in the success and long-term viability of organisations, regardless of their size or industry. The availability of advanced financial management software solutions has revolutionised the way businesses handle their financial operations, offering enhanced automation, real-time insights, and improved decision-making capabilities.
A reliable financial management system will empower your business with accurate and timely information in one place. It will help you make informed decisions, develop effective financial plans, and stay compliant with regulations.
In our previous blog post, we explored four strategies businesses should implement to avoid common mistakes in financial management software implementation. Today, we will uncover four additional strategies to help you and your business prepare effectively before embarking on your implementation journey.