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
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
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.
Blog Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software
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.
Blog Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software, Cloud Computing
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.
Blog Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software, Digital Transformation
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.
Blog Topics: Financial consolidation, planning and reporting, Enterprise Performance Management (EPM), Financial Accounting Management Software, Infor SunSystems
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.
Blog Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software, Infor SunSystems
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.
Blog Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software
Implementing a new financial management software system can be a game-changer for businesses, offering increased productivity, streamlined processes, and enhanced data accuracy and security. However, the road to successful implementation is not without its challenges and, if managed poorly, an implementation project may do more harm than good.
Blog Topics: Financial consolidation, planning and reporting, Financial Accounting Management Software
In recent years, we have seen a whirlwind of unexpected changes, such as the fluctuation of cryptocurrency, the implementation of GDPR, the Brexit saga, and the China-US trade war. Adding to this, the recent pandemic has led to a global recession, making the world more volatile, uncertain, complex, and ambiguous than ever before.
Blog Topics: Financial consolidation, planning and reporting
Rick Yvanovich
/Founder & CEO/
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