Accsys Consulting logo
About Accsys Consulting

Accsys Consulting is a renowned Canberra-based company, established in 1992, offering specialised financial management and information technology consulting services to valued public and private sector organisations. Our enduring commitment is to assist clients in developing their customer relationship management (CRM), enterprise resource planning (ERP), and financial management information systems (FMIS). We achieve this through a highly skilled team proficient in the implementation and support of leading software solutions like Sage Intacct, Sage 300 and Sage CRM.

With an impressive track record spanning over 30 years, the directors and staff of Accsys Consulting have continually demonstrated their expertise in successfully implementing and supporting Sage Intacct, Sage 300 and Sage CRM solutions. Our team includes Chartered Accountants who possess the expertise to aid clients in financial statement preparation, auditor liaison, and grant acquittal statement review.

Our exceptional reputation has been built upon delivering effective solutions, ensuring prompt implementation, and providing reliable personal service. Today, our respected clientele encompasses public sector organisations, listed public companies, not-for-profit organisations, and private companies.

The exceptional quality of our service makes us proud to have successfully implemented and supported Sage Intacct, Sage CRM and Sage 300 across sites throughout Australia, with a significant number of our clients within the Canberra region.

Partner with Accsys Consulting for comprehensive financial management and information technology consulting services that drive success and ensure optimal efficiency and growth for your valued organisation.

Follow Us On Social
 

Next Generation Financial Consolidations for Hospitality Organisations

male customer making order at table in modern restaurant

17 May Next Generation Financial Consolidations for Hospitality Organisations

Posted at 16:05h in Blog, Sage Intacct by

Revolutionising Financial Consolidation in the Hospitality Sector

The hospitality industry is on the cusp of a financial revolution. The traditional role of corporate accounting as the custodian of financial data is undergoing a transformation, driven by the need for more agile, accurate, and consolidated financial reporting. This white paper delves into the next generation of financial consolidations, offering a glimpse into the future of financial management within the hospitality sector.

Introduction The consolidation process has historically been a laborious task, often spanning weeks or even months. Today’s dynamic business environment demands a shift from mere systems of record to systems of intelligence, where continuous and precise consolidated financial reporting is paramount.

The Challenges of Consolidation Today Hospitality organisations face a myriad of challenges in financial consolidation due to:

  • Diverse accounting rules across jurisdictions.
  • Growth strategies through organic ventures and acquisitions.
  • Complex intercompany activities within control groups.
  • Currency translation due to international operations.

These complexities are compounded by the need for faster reporting timelines, transparency, and a controlled consolidation process that upholds the integrity of financial reporting.

Consolidations: The Next Generation The white paper argues that the traditional consolidation approach, reliant on a mix of human capital, manual processes, and disparate technologies, is no longer viable. It outlines a multi-stage process fraught with inefficiencies and risks, highlighting the reliance on manual reconciliations and the lack of real-time visibility.

Conclusion A paradigm shift is necessary. The paper advocates for leveraging cloud-based financial management systems that offer scalability, automation, and seamless integration of new business units. This modern approach promises to streamline the consolidation process, reduce errors, and enable finance functions to assume a more strategic role within their organisations.

In essence, the white paper presents a compelling case for hospitality organisations to embrace next-generation financial consolidations, paving the way for enhanced analytical capabilities and real-time reporting that can drive strategic decision-making and foster growth.

Register below to download the white paper.


Tags: