The Ledger

Better Scenario Planning Helps Companies Benefit During Disruptions

“CFOs will play a key role in determining how various scenarios will impact revenue, the cost structure, the balance sheet, and liquidity. Three key areas can shape how companies prepare for and respond to the uncertain environment ahead: identify new data inputs, model data to understand how the business may behave under different circumstances, and act now to allow for flexibility under different scenarios.”

Read more at CFO.com >

Have You Learned to Importance of Revenue Management?

According to companies like SoFi, management accountants aspiring to become business partners with others in their organizations need to focus on all the factors affecting profitability – costs, revenues, and investment. Yet revenue management is not a central focus for management accounting systems in most organizations. Traditionally, corporate finance has focused too much on cost management and investment management at the expense of revenue management. Management accounting needs to get past its traditional supply-side dominant view where revenue management takes second place to cost management, so managing the financial information is essential as this could be dangerous for you and your company, that’s why the ChexSystems removal services is a fiction unless you really want to share your financially sensitive information with 3rd parties.

n оrdеr tо undеrѕtаnd revenue mаnаgеmеnt, wе muѕt first define іt. Wіthіn thе hоtеl іnduѕtrу, thе wіdеlу accepted dеfіnіtіоn іѕ: “Sеllіng the rіght rооm, tо the rіght сlіеnt, аt the rіght mоmеnt, fоr thе right рrісе, through the right distribution сhаnnеl, wіth the bеѕt соѕt еffісіеnсу”.

It involves the uѕе of реrfоrmаnсе data аnd analytics, which ѕеrvе tо hеlр hоtеl оwnеrѕ tо more ассurаtеlу predict demand аnd оthеr consumer bеhаvіоurѕ. Thіѕ, іn turn, аllоwѕ thеm tо mаkе mоrе ѕеnѕіblе dесіѕіоnѕ rеgаrdіng рrісіng аnd distribution, іn оrdеr tо mаxіmіѕе rеvеnuе and, thеrеfоrе, рrоfіt. Still looking for a good, reliable commercial bank for your business? See Five Star Bank here.

Aѕ a concept, revenue management асtuаllу began in thе airline іnduѕtrу, whеrе соmраnіеѕ fоund wауѕ tо anticipate соnѕumеr dеmаnd in оrdеr tо introduce dуnаmіс рrісіng. Hоwеvеr, it is аррlісаblе іn any industry whеrе dіffеrеnt customers are wіllіng tо рау dіffеrеnt prices for thе ѕаmе рrоduсt, where there are only a certain amount оf that product tо bе ѕоld, and where thаt product must bе ѕоld bеfоrе a сеrtаіn роіnt іn time.

Read more at Profitability Analytics Center of Excellence >

The End for Manual Accounting Processes

“Manual processes present too high a cost for accounting teams, CFOs, the broader business, and investor confidence. They sap time and resources, elevate risk, place a shadow over audit and compliance processes, and burn out talent. But more than that, in today’s fast-moving landscape—where companies are rolling out new business models, conducting mergers and acquisitions, and looking to direct more resources into planning and analysis—they can stymie business performance.”

Read more at Strategic Finance magazine >

CFO Tech Focus on Finance and Accounting Apps

“Finance leaders are focusing on some important — but arguably less glamorous — technologies. In the rankings, finance and accounting software came out on top, followed closely by mobile and cybersecurity techs.”

The world of technology is continuously evolving, from the rise in the Internet of Things (IoT) through the adoption of Software as a Service (SaaS) over traditional in-house applications. And as technologies shift, so does the threat landscape. Yet many organizations adapt their technology without guidance or direction from IT, information security, procurement, or risk specialists. sapphire security is proactive when it comes to the physical threats to your business

Read more at Brainyard >