• English
  • Tiếng Việt

TRG in the Board Room

Subscribe to TRG in the Board Room feed
TBA
Updated: 1 hour 55 min ago

5 key criteria when choosing the right financial accounting system

Mon, 09/01/2014 - 09:30

Out-of-date and inflexible financial accounting systems may cost you more than you can imagine. It can bog you down with complex and slow information analysical capabilities. It also provides limited options so that you cannot get exactly what you want out of it. In this new age of technology, modern CFOs need a financial accounting system that empowers them to take control and be able to solve current problems and future challenging changes. Before deciding which software suits your business most, it is essential to consider 5 key criteria as follows:

3 key features of any financial management software

Tue, 08/26/2014 - 09:30

Financial management software is becoming an increasingly important part of every organisation. It helps companies to manage and understand their business deeper from accounting to project management and strategic planning. When the financial management system malfunctions, the consequences will negatively affect the profitability and the success of the organisation.

Increase customer satisfaction with the innovated POS system

Fri, 08/22/2014 - 09:30

Point of Sale (POS) is going through rapid change driven by emerging technology trends and innovations. In the last post, we discussed the explosion of hardware and software innovation and its impacts on this evolution. In this post, we will introduce one more critical part and its impact in POS innovation.

Guideline to a successful ERP journey - Part 1: Planning

Thu, 08/21/2014 - 09:30

Executing an ERP implementation project is among the most expensive, time-consuming and complicated tasks an organization can take on. Delays or unexpected expenses are a risk at all times. To avoid these costly mistakes, having a good plan right from the start is necessary. This series will provide you with step-by-step guidelines for preparing an ERP implementation.

How-To successfully adopt Accounts Payable automation

Tue, 08/19/2014 - 09:30

In our latest blogs, we have discussed the essential role and financial benefits of accounts payable management to the retailing industry. Accounts payable automation, workflow, and e-invoicing have for long been a solution for common AP problems due to human errors. Despite the fact that AP automation can improve accounts payable and financial management significantly, many companies are still applying manual entry.

5 must-haves to buy the best ERP software (Part 2)

Wed, 08/13/2014 - 09:30

In the last post, we have discussed 2 keypoints that you must do before choosing a proper ERP system for your business. Today, we will have a look over the last 3 things should be in your check lists.

The explosion of hardware and software innovation in POS system evolution

Fri, 08/08/2014 - 09:30

Along with the emerging trends in technology, Point of Sale (POS) is thought to be also going through a profound transformation. New trends such as intertwined drivers of mobile devices and sensor proliferation, the transition of back-office systems to the cloud, the demand of enhancing customer experiences, etc., have led to changes in consumer behavior.

5 must-haves to buy the best ERP software (Part 1)

Wed, 08/06/2014 - 09:30

Whether you have already implemented an Enterprise Resource Planning (ERP) system or not, you always need to prepare big time for it. Every concern should be put up for consideration: who is the right vendor for your ERP system, what questions should be asked and how to eventually make your project successful when you start planning.

Benefits of accounts payable automation in financial management

Fri, 08/01/2014 - 09:30

Many companies, especially ones in retailing industry—where accounts payable (AP) transactions with sellers and suppliers are significantly critical to business—have been investing in e-invoicing and accounts payable automation as an proactive approach to address those AP problems caused by traditional manual entry.

Getting rid of Excel in financial planning and budgeting: modern trend for CFOs

Wed, 07/23/2014 - 09:30

Reasons to get rid of Excel in financial planning and budgeting

Recent research by Anaplan, an expert on modelling and planning finance, sales and operations platforms, states that currently, Asia Pacific’s CFOs are still experiencing difficulties with spreadsheet usages in financial planning and budgeting. In addition, there was a relatively low satisfaction level with the accuracy, timeliness and ease of Excel use for planning and budgeting.

TRG gives gifts to lives at AmCham’s World Blood Donor Day 2014

Thu, 07/17/2014 - 09:05

Ho Chi Minh – July 2014 – The 4th Am Cham Blood Donor Day (WBDD) on 14 July 2014, received aid from dozens of large organisations in Ho Chi Minh City. As a common yearly activity, this time, TRG’s CEO and staffs joined in the event at New World Hotel, District 1. With our supports, we wish to accompany the event slogan “give blood for those who give life”.

9 ways to increase Hotel Profits: Part 3

Wed, 07/16/2014 - 09:30

As discussed in the latest blog, 3 ways to increase profits in hospitality management were matching staffing levels to demand; utilising the value of your inventories and understanding ROI of Marketing. Now let’s uncover part 3, which is the last one of the series 9 ways to increase your hotel profits.

Infor introduces two new features to SunSystems Query tool

Mon, 07/14/2014 - 09:30

The latest version of SunSystems Query and Analysis tool adds two new modules to make analysis easier for both techies and no-techies.

9 ways to increase Hotel Profits: Part 2

Tue, 07/08/2014 - 21:30

After years of slow and stubborn recovery, with constrained capital budgets, hotel owners and hotel operators are facing huge pressure to increase hotel profits as investors are becoming more confident for trade propelled growth, thus fuelling an increase in transaction activity and worldwide improvements in hotel operations.

9 ways to increase Hotel Profits: Part 1

Mon, 06/16/2014 - 12:30

Today, the hospitality industry in general and hoteliers in particular are faced with a daunting road that requires great flexibility especially in terms of finance.

6 ways to use technology to help shape up financial strategies (part 2)

Mon, 05/26/2014 - 14:13

McKinsey in a recent research reports that while 75 million people cannot have a job, yet many businesses have vacancies that cannot be filled, and that there is a gap between the current workforce’s skills and what employers want from employees. Especially in the finance and accounting world, where people need accuracy, concentration and speed, it is even harder for organisation to recruit and retain talents.

6 ways to use technology to help shape up financial strategies (part 2)

Mon, 05/26/2014 - 14:13

McKinsey in a recent research reports that while 75 million people cannot have a job, yet many businesses have vacancies that cannot be filled, and that there is a gap between the current workforce’s skills and what employers want from employees. Especially in the finance and accounting world, where people need accuracy, concentration and speed, it is even harder for organisation to recruit and retain talents.

However, technology will be one key factor to help solve this problem. In the previous post, we’ve discussed about the first 3 among 6 basic ways to use technology effectively to recruit and retain talents. Today, we are going to discuss the three remaining ways.

    4. Allow employees to work the way they live

      According to GMSA and PWC, in 2017, over 1.5 billion mobile connections will be established in Asia, and the growth of mobile technology in this region will be unstoppable. As a result, the workplace is also influenced by this trend.

      Despite the risks of data security, many businesses still decide to expand mobile access to core systems such as financial management to provide more information for employees in a fast-track, modern way. The results turn out that the employees love it because it can bring their job closer to their lifestyles, and employers can provide on-demand access to their workers at any time needed.

        5. Capture and use knowledge from all parts of your business

          Enhance collaboration among employees can be even more difficult when a company goes global since business units are diverse in many different areas and countries. Yet it is important for business to capture and use knowledge from all parts of the companies, for it will help develop competitive advantage over other big players in the market, and technology play a key role in this situation.

          There are two basic strategies to help increase collaboration among employees:

          • Implementing company-wide knowledge base: Store all information about company policies and procedures on one database that can be accessed with any company account in different geographies. Employees now can have a global view of the business process and use knowledge from other areas to improve work performance.
          • Using social business: Social business is the combination of social media + business process. It will create the familiar atmosphere when employees working and can help solve some old problems and new opportunities to get ahead. McKinsey Global Institute found that most employees devote 28% their working efforts on checking, composing and reading emails. With social business tools, email loads can be reduced by 20% to 25% and thus increase the time for other important tasks.
            6. Reduce bureaucracy

              The larger the business, the harder to manage all administrative tasks. The time wasted for these tasks, such as changing the phone number in internal system, or adding insurance plan, can be very frustrating. Everybody wants to spend time effectively and productively.

              However, companies can reduce the amount of time completing these tasks using the right combination of technology and policy. Research shows that companies applied technology into the company policy that have decrease 70% of HR intervention into these tasks, while still have confidentiality and privacy. Employees now have higher satisfaction around performing these tasks.

              Conclusion

              In multinational organisations, the demand for skilled workers, especially in the finance field increases rapidly despite the slump of the economy and the workforce. Being in that situation, attracting and retaining top talents is an initiative that needs attention and new ideas. Technology, of course is not a solution for all these problems, but it provides solid foundation for a unified talent management strategy to attract the best and the brightest, thus increase the financial performance and production at the same time.

              This is the end of our series “Financial leaders: Technology and Talent. Download our full whitepaper now for more information!

              (function(){ var s='hubspotutk',r,c=((r=new RegExp('(^|; )'+s+'=([^;]*)').exec(document.cookie))?r[2]:''),w=window;w[s]=w[s]||c, hsjs=document.createElement("script"),el=document.getElementById("hs-cta-73b2201a-fb79-4818-9392-682a57a4bbd0"); hsjs.type = "text/javascript";hsjs.async = true; hsjs.src = "//cta-service-cms2.hubspot.com/cs/loader.js?pg=73b2201a-fb79-4818-9392-682a57a4bbd0&pid=125873&hsutk=" + encodeURIComponent(c); (document.getElementsByTagName("head")[0]||document.getElementsByTagName("body")[0]).appendChild(hsjs); try{el.style.visibility="hidden";}catch(err){} setTimeout(function() {try{el.style.visibility="visible";}catch(err){}}, 2500); })();

              6 ways to use technology to help shape up financial strategies (part 1)

              Mon, 05/12/2014 - 13:44

              In the last post, we discussed about the current challenges of recruiting and retaining talents in organisations, especially in financial and accounting aspects. However, having a comprehensive system will enable top managers to manage human resources more effectively in the most effective way to compete globally. Today, we’ll discuss further on 3 among 6 basic ways to use technology to shape up financial strategies and increase financial performance.

              6 ways to use technology to help shape up financial strategies (part 1)

              Mon, 05/12/2014 - 13:44

              In the last post, we discussed about the current challenges of recruiting and retaining talents in organisations, especially in financial and accounting aspects. However, having a comprehensive system will enable top managers to manage human resources more effectively in the most effective way to compete globally. Today, we’ll discuss further on 3 among 6 basic ways to use technology to shape up financial strategies and increase financial performance.

              1. Get a unified view of talent worldwide

              When it comes to expanding your organisation worldwide, it is common for multiple HR and financial departments and multiple management systems to be in place. People tend to process their business from geography to geography, and this can create many issues in gaining company-wide visibility of their talent pools.  Without global view of existing talents, identifying needs and opportunities will become more difficult. Therefore, it is necessary to have a broad talent management plan throughout the organisation to create strategies for retaining talents, developing employees’ skills and leadership abilities for future needs as well as sourcing talent if needed, according to Deloitte’s recent research.

              Many top-notch companies are turning to unified human capital management (HCM) system to enable the execution of the plan. The system will help facilitate the data and processes in different management systems without forcing to eliminate all the systems. Information now can be linked together to provide one unified view, company-wide, from geography to geography without any hindrance. That way, employees will have more transferring/promoting opportunities, and employers can fill their talent needs better.

                2. Improve technology user experience

                  As discussed above, multi-national organisations often have a variety of system in use. Therefore, the level of technology experience is different across regions. Each operation has different dated applications that may cause as much problems as the solutions they solve. Especially in the finance field, management systems often lock companies into certain methods to handle key tasks, depending on the geography’s accounting standard and more, without the ability to flexibly changes in reporting and tax management in terms of global operation.

                  In addition, the expectation from employees towards software user experience is increasing due to technology advancement. They want the technology in their work to be mirror to what they use personally, especially the young ones.

                  Bottom line, user experience is more than just beauty. Employees can work in the tech environment that is familiar, consistent, enjoyable and more productive with high user experience. Job satisfaction and technology user experiences are closely entwined, therefore, company leaders should also consider user experience when making decision about management systems.

                    3. Remove IT as the information gatekeeper

                      As companies go global, it is essential to have analysis and oversight in areas like reporting, taxation and regulatory compliance. However, the resources available for performing these tasks are limited since technology is the main enabler for analytics and business intelligence tools. This requires a high degree of technical skills thus create obstacles for non-technical people who want to analyse information and use BI tools for their work.

                      The solution for this is simple: democratisation of data (see our previous posts for more information). It gives end users the direct access to business data and thus improve their performance. Additionally, BI tools with contextual analytics function can provide end-user the information they need automatically when they are doing their job and decisions can be made at the right time and the right place with high accuracy.

                      These are the first 3 among 6 ways to use technology to enhance financial strategies in your company. Stay tuned to our next post with the three remaining 3 ways!

                      Eager for more? Download our full report “The global financial leadership series: Technology and Talent” today!

                      //

                      10 steps to 21st century Business Intelligence and Performance Management (Part 2)

                      Tue, 04/29/2014 - 11:58

                      In order to make the most optimization decision, managers and executives must ensure that all business processes are supported with meaningful, proactive information. Business Intelligence is one of the key technologies that help companies to successfully deliver information and transfer them into strategic plans. In our last post, we discussed about the first 5 steps to help create harmony concept between business intelligence (BI) and performance management (PM) for better business performance. The next 5 steps are to address organisational needs as well as challenges in order to direct BI and PM in the right path.

                      Pages