Blogs

July 25, 2024

Proper cost allocation is a cornerstone of accurate financial accounting and management. Allocating costs from cost centers, such as Administration, where costs are incurred, to profit centers, such as Sales, where profit is generated, is essential for understanding and optimizing business profitability. Understanding Cost Allocation Methods Direct Method The direct method allocates costs directly from ...

July 18, 2024

Traditional budgeting methods often fall short in today’s fast-paced and unpredictable market environment. The supply of raw materials and products, along with their prices, can change chaotically, making accurate forecasting more important than ever. This is where rolling forecasts come into play. By adopting rolling forecasts instead of traditional budgeting, businesses can increase their accuracy ...

July 5, 2024

If you’re working with large datasets in MicroStrategy and finding that your queries are taking too long, partitioning your data might be the solution you need. Partitioning divides your data into smaller, more manageable tables, allowing for faster query performance while still enabling you to treat the data as a single logical table. Here’s a ...

July 2, 2024

In today’s fast-paced business environment, uncertainty is a constant companion. To navigate these unpredictable waters, companies must harness the power of what-if scenario planning and analysis. This invaluable tool allows businesses to assess the potential impacts of future events, making it an essential component of strategic planning. Embracing Uncertainty in Business Planning Every business plan ...

May 15, 2024

Staying compliant with the OECD’s BEPS 2.0. Pillar Two is more crucial than ever as regulations evolve. Time is running out for multinational corporations to cope with the OECD’s BEPS Pillar 2 model rules. This directive strikes at the centre of the financial close and consolidation process. Finance and tax departments should assess material impacts ...

April 16, 2024

In today’s data-driven world, businesses striving to stay at the forefront of their industries recognise the critical need to analyse and interpret massive volumes of data effectively. Integrating large language models (LLMs) with business intelligence (BI) systems is revolutionising this arena, proving to be a formidable force in enhancing business operations and decision-making. The Synergy ...