Reconciling financial records is a crucial aspect of accounting that ensures financial accuracy and compliance. However, traditional manual reconciling methods are becoming increasingly outdated and pose a significant security risk for businesses. In this blog, we’ll explore the security risks of manual reconciliation in accounting and the benefits of automated reconciliation solutions. Manual reconciliation involves matching […]
Uncategorized
Bringing Intelligence for Accounting into Hotels
On March 23rd, Evention’s Managing Partner and Co-Founder Mike Baldinger attended Glory’s webinar aimed at hotel financial teams looking for technology solutions to improve their daily operations and processes. The webinar featured interviews with Hotel Financial Directors as well as a live Q&A session. The webinar featured an impressive panel of speakers, including Marc Quintana, Director of Finance; Christelle […]
The True Impact of Tips at Hotels
According to ZipRecruiter, the average annual Hotel Housekeeper salary as of February 2023 is $25,958, about $2,163 a month (before taxes). In order to augment the annual base salary, tips become an important part of their overall compensation. When guests choose not to tip or can’t because they don’t have a digital option, these employees […]
The Power of Accounting Automation
Managing financial transactions and reconciling accounts can be time-consuming and overwhelming for business owners. 51% of companies use automated processes to reconcile their accounts. Switching to automation can be a game-changer for businesses looking to save time and resources. Businesses can reduce manual reconciliation by up to 70%. This translates into fewer errors and increased accuracy. Automating […]
Maximizing Profit and Success through a Cash Culture: The Evolving Role of Credit Managers
In recent years, the role of credit managers has evolved from a traditional debt collection focus to a more strategic revenue management focus. This shift requires credit managers to oversee end-to-end global processes and manage the stakeholders involved at each stage of those processes, including extending collaborative relationships with the sales department and customers. To […]
Why Are Quick Service Restaurants Embracing Digital Tipping?
America is increasingly going cashless. Seven years ago, the number of cashless U.S. adults represented just a quarter of those polled by the Pew Research Center. Today, that number stands at 40%. Consumers have cleared out the bills from their pockets and moved to plastic or the increasingly popular digital wallets such as Apple Pay and […]
