TRG Blog

Planning and budgeting for success

Posted by Rick Yvanovich on

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Topics: Planning and Budgeting, CFOs, Financial Accounting Management Software

Agile EPM: how leading corporations can make it

Posted by Rick Yvanovich on

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Topics: Planning and Budgeting, Enterprise Performance Management (EPM), Financial Accounting Management Software

Success factors of strategy and execution alignment

Posted by Rick Yvanovich on

In the last post, we outlined the alarming issue of a strategy gap in businesses nowadays and how it can be undesirably widened by failures in strategic planning and budgeting.  To gain a competitive advantage and increase business resilience, companies need to bridge this gap between strategy and execution, the task that requires serious dedication from everyone in an organisation. There are four factors of an effective strategy and execution alignment, from conveying what corporate goals really mean to identifying how they should be achieved.

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Topics: Planning and Budgeting, Enterprise Performance Management (EPM)

Strategy and execution: The gap not yet closed

Posted by Rick Yvanovich on

It is hard enough to come up with an effective corporate strategy. It is even harder to execute that strategy effectively to achieve desirable outcomes. A 2009 study on employees found that 70% of them were confused about what they needed to do to support their company’s strategy. The same study, published in Fake Work by Brent D. Peterson & Gaylan Nielson, Simon Schuste, “half of all the work people did had nothing to do with their company’s strategy”. For the last dose of alarm, 73% of surveyed workers did not think their company’s goals are translated into specific executable work.

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Topics: Planning and Budgeting, Enterprise Performance Management (EPM)

CFOs and finance professionals: Time to change the way you work

Posted by Cuong Nguyen on

“It’s an increasingly complex world” (Accenture, 2012)

Today, economic turmoil and volatility are dominant and the roles of CFOs and senior finance managers are changing. Thus, it’s critical that CFOs are able to:

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Topics: Planning and Budgeting, CFOs, Financial consolidation, planning and reporting, Financial Accounting Management Software

How technology can help you with IFRS adoption

Posted by Rick Yvanovich on

In our view, companies are best served when they take an integrated approach to build an IFRS framework. Toward that end, they need a fully integrated solution ideal for supporting the IFRS adoption. A key element is the ability of enterprise applications to work in conjunction with financial management ones to meet a wide range of accounting requirements and processes mandated by the International Financial Reporting Standards. 

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

The process for building IFRS framework

Posted by Rick Yvanovich on

Adopting IFRS alongside VAS requires technical, strategic, and operational changes. There also will be an unavoidable impact on information technology (IT) systems, as companies change the way they manage and report on numerous business activities. Hence, companies should employ a methodical approach when building the IFRS framework.

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

How to evaluate and categorise business performance (part 2)

Posted by Rick Yvanovich on

In the last post, three out of five criteria to assess business performance in relation to the corporate planning, budgeting and forecasting process were discussed. The last two, pointed out by Aberdeen Group in its 2011 study, are technology and performance management.

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

The major differences between IFRS accounting and VAS accounting

Posted by Rick Yvanovich on

Vietnam’s Ministry of Finance has been working to converge IFRS accounting and VAS accounting, with a goal of eliminating most, if not all, of the key differences by the time the Government allows or mandates the use of the International Financial Reporting Standards. Progress has been made, but significant differences remain in inventory costing, impairment write downs, contingencies management, debt covenant management, and revenue recognition.

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

How to evaluate and categorise business performance (part 1)

Posted by Rick Yvanovich on

Effective planning, budgeting and forecasting processes are indicative of good business performance. A study conducted by Aberdeen Group in 2011 identifies five key performance criteria that distinguish the best-in-class (top performing) from industry average and laggard companies.

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

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 Rick Yvanovich
 /Founder & CEO/

With TRG International Blogs, it is our mission to be your preferred partner providing solutions that work and we will make sure to guide your business to greatness every day.

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