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Must-haves of Accounting Software for Financial Services Firms

Posted by Rick Yvanovich on

The financial services industry in the post-crisis era is still rife with challenges, both old and new, including extensive regulatory changes, technology disruptions, and a greater demand for trust and transparency. Financial services firms operating in such contested environment need an accounting software solution that can deliver top-notch industry-specific capabilities.  

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Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software

4 Deadly Sins of Financial Consolidation

Posted by Rick Yvanovich on

Despite its complexity, financial consolidation - the process of combinining and normalising financial data from different business units (entities) - is often still being performed by outdated tools. This problem is compounded by the fact that CFOs are facing growing reporting and compliance requirements on a global scale. 

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Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software

5 Best Practices for Financial Planning In a VUCA World

Posted by Rick Yvanovich on

A typical finance professional spends the majority of his or her time collecting, validating, and administering data, leaving a tiny window for value-added analysis. CFOs demand forecasts to be accurate, timely, and relevant. Yet, the finance department struggles to satisfy such request. 

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Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software

Is Financial Planning Still Relevant in a VUCA World?

Posted by Rick Yvanovich on

The past few years have been full of unexpected changes; we witness the rise and fall of cryptocurrency, GDPR, Brexit, the China-US trade war... combined with the lingering effects of the global financial crisis years ago. 

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Topics: Financial consolidation, planning and reporting

What Does the Future Hold for Financial Forecasting?

Posted by Rick Yvanovich on

As planning, budgeting and forecasting become indispensable strategic contributors, finance executives begin to realise the need to transform their rigid yearly financial planning by adopting more advanced (both on-premise and cloud-based) analytical tools. 71 per cent of organisations surveyed by FSN in 2017 has been able to reforecast more than twice a year, up from 56 per cent in the previous year, although the forecasting accuracy is still fairly low. 

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Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software, Cloud Computing, Analytics

Must-Have Features of Accounting Software for Hospitality

Posted by Andrew Turton on

Hospitality faces unique challenges and has specific requirements, making conventional accounting systems unfit for this industry.  

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Topics: Hospitality solutions, Financial consolidation, planning and reporting, Financial Accounting Management Software

An Overview of Infor d/EPM (Dynamic Enterprise Performance Management)

Posted by Rick Yvanovich on

Infor d/EPM is a fully integrated solution suite that is capable of automating your business’ financial management process, thereby eliminating the use of spreadsheets. It layers world-class in-context business intelligence, financial performance management, and risk and compliance monitoring, empowers you to drive your business performance more effectively.

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

Fixed Forecasting vs. Rolling Forecasting: Which One Is Right for You?

Posted by Rick Yvanovich on

In a global survey conducted by KPMG1 in 2016, over two-thirds of respondents, who are all senior executives, said they have some forms of rolling forecast in place. In order to thrive in this VUCA world, accurate forecasting seems more imperative than ever. Rolling forecasting, as a means to achieve that, is now a universal practice thanks to its proven capabilities. 

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Topics: Financial consolidation, planning and reporting, Enterprise Performance Management (EPM), Enterprise Resource Planning ERP

Financial Planning vs. Budgeting vs. Forecasting: A Quick Comparison

Posted by Rick Yvanovich on

Planning, Budgeting, and Forecasting (PB&F) is one of the three management processes that constitute Enterprise Performance Management (EPM). We have presented the basic principles of EPM and its other two components in a previous post. In this article, we will dive deeper into the PB&F process and discuss the similarities and differences among financial planning, budgeting, and forecasting.

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Topics: Planning and Budgeting, CFOs, Financial consolidation, planning and reporting

Revenue Management at the Touch of a Button: the Success Story of Vienna House

Posted by Thai Pham on

Vienna House is an Austria-based hotel chain that currently has 34 hotels under its brand. The brand is famous for their classic Viennese charm with a touch of modern comfort. During the past five years, Vienna House has grown and acquired a few more hotels. The steady growth brings in the inevitable IT challenge: the need for a revenue management system to help unify and manage all of the hotels in the group.  

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Topics: Hospitality solutions, Financial consolidation, planning and reporting, Business Intelligence

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 Rick Yvanovich
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