Workflow Improvement

When it comes to the new lease accounting standard, across all industries, embedded leases have proven to be complex. EXAMPLE: Consider a standard product supply agreement. This type of contract might not seem like it contains a lease, but it may include an embedded lease if the purchaser has control over most of the services output.

With the new Lease Accounting Standard (ASC 842 Leases), all long-term operating leases need to be capitalized on the balance sheet, and financial disclosure requirements have been expanded.

We routinely introduce our clients to new technologies that supplement or imitate our high standards as an organization with over two decades of experience in internal controls and compliance.

Accounting is an essential component of any business, and your financial specialists are invaluable members of your team. Your accountants and financial professionals’ time is extremely valuable because of the expertise they bring to the table, and wasting it on manual, repetitive tasks is costly.

Trying to figure out how to grow your business in a strategic way? In the last year, mergers and acquisitions (M&A) have triggered significant growth for forward thinking companies, resulting in both organizational revolutions and technological transformations.

If you’re part of an acquisition team, your first task will be managing the transition from an independent company to one that’s now part of the larger organization. As the leader of this effort, you have quite a bit on your plate, and it’s essential to handle it all in the right way to ensure the success of your transition efforts.

Environmental, social, and governance (ESG) goals are a necessary part of a company’s initiative toward sustainability and equality. ESG is gaining traction, with 91% of business leaders admitting that they think they are responsible for addressing ESG issues. These issues include carbon emissions, climate change, anti-corruption, water use, community development, and human rights. Changes in behavior and society are driven by incentives that are primarily financial, and this is why sustainable finance is critical to tackling these issues. Companies can incentivize customers to make eco-friendly decisions and invest in companies that are on a journey toward Net-Zero (or are already there). This is all a part of their ESG framework, which tracks, plans, and reports on an organization’s actions.

Environmental, social, and governance (ESG) goals are a necessary part of a company’s initiative toward sustainability and equality. ESG is gaining traction, with 91% of business leaders admitting that they think they are responsible for addressing ESG issues. These issues include carbon emissions, climate change, anti-corruption, water use, community development, and human rights. Changes in behavior and society are driven by incentives that are primarily financial, and this is why sustainable finance is critical to tackling these issues. Companies can incentivize customers to make eco-friendly decisions and invest in companies that are on a journey toward Net-Zero (or are already there). This is all a part of their ESG framework, which tracks, plans, and reports on an organization’s actions.

We hear dashboards are on their way out. I recently saw a tombstone for Dashboards on TDWI’s thought post (good read, btw!). Try a Google search for "dashboards 2021" and you may find many references that say dashboards are becoming obsolete. Sirius maintains, however, that dashboards have simply been upgraded. Quality data visualization for business intelligence dashboards helps businesses make money. The function of data visualization and continuous data curation allows for deeper insights and predictive measures, helping businesses make better decisions and create improved business performance. Old dashboards, perhaps, were clunky, took time to build and maintain, and changes were slow and expensive. But, the evolution of analytical dashboards now allows for businesses to quickly analyze data and run better.

The amount of corporate data is expanding and appears to be at an all-time high. Every organization today is rapidly evolving into a data organization. In an era where data is becoming the backbone of an organization (i.e., companies use data to identify the overall health of an organization) and the decision maker (i.e., companies use data to make judgments and predictive analytics), businesses must find out how to best organize their data.

The new year presents an excellent opportunity to capitalize on the benefits of proactively planning your digital financial transformation projects. In many cases, the financial and operational executives in organizations are the leaders of strategic transformation and change management possible within the organization. In preparation for the start of a new year, financial departments also should evaluate their strategic priorities and designate initiatives that will address time-consuming, redundant, and administrative activities.

Reduce DSO and bad debt with AI-based Integrated Receivables Platform. Connect credit, billing and invoicing, cash application, deductions, and collections into a single business process.

An in-depth grasp of Order-to-Cash and accounts receivable will allow your organization to improve cash flow management, capitalize on time-sensitive opportunities, and retain flexibility within your business.  

For over 20 years Sirius Solutions has been helping clients achieve increased performance in the order-to-cash and treasury portions of their business through assessment, development and execution of enhanced processes and controls. Continuing with our quest to bring you the best cutting-edge solutions, we are excited to announce our partnership with HighRadius.

The implementation benefits realized by the oil and gas sector while using Quorum ERP software are enhanced asset performance, improvement in project administration, and better cost control.

The Oil and Gas industry has come a long way, from revolutionizing techniques for extraction, refining, and utilizing fossil fuels, to improving these same processes based on the increasing technology-driven demands for resources. Oil and Gas business leaders can now take advantage of digital transformation and digital modernization, move forward, and explore key innovation strategies. With the right technology, companies can now easily empower industry leaders and consumers to continuously generate and capture the value of the Oil and Gas industry.