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Division January 3, 2023 Session information: In order to be awarded full credit, you must respond to three of the four polling questions asked during the program. You can only respond to the polling questions if you are logged in through the Desktop app or a mobile app (ZOOM Cloud Meetings – Apple or Google Play). You cannot answer polling questions if you dial in. You must also attend the webinar for at least 50 minutes (our platform, Zoom Webinar, tracks the time you are logged in). Participants will earn 1.0 CPE credit. Field of Study: Specialized Knowledge Additional information: Prerequisites and Advanced Preparation: None Program Level: Basic Delivery Method: Group Internet Based Refunds and Cancellations: BGSF provides this learning opportunity to you at no fee. For more information regarding concerns and/or program cancellation policies please contact our offices at 469-501-5345. — BGSF is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

SAP recently launched the latest release of SAP S/4HANA Cloud, Private Edition, promising to bring a host of new features and enhancements to help businesses streamline their operations, enhance productivity, and stay ahead in the ever-competitive marketplace. In this blog, we will explore everything you need to know about the release. What is SAP S/4HANA Cloud? SAP S/4HANA Cloud is an intelligent, integrated, cloud-based enterprise resource planning (ERP) software suite that helps organizations manage their core business processes more efficiently in the cloud. It is designed to work in real-time, providing companies with instant access to critical data, enabling better decision-making, and enhancing overall business agility. The 2023 release builds upon the platform’s strong foundation to deliver even more value to businesses. What’s New in 2023? Enhanced User Experience: The 2023 release brings improvements to the user interface, making it more intuitive and user-friendly. The Fiori interface, well-known for its clean and responsive design, has been further refined, making it easier for users to navigate and complete tasks efficiently. Industry-Specific Solutions: SAP has developed industry-specific templates and best practices for various sectors, including manufacturing, retail, healthcare, and the public sector. These industry accelerators make it easier for businesses to tailor their ERP systems to meet their specific needs. Advanced AI and Machine Learning: The 2023 release continues to harness the power of artificial intelligence (AI) and machine learning (ML) to deliver predictive analytics and automation. This helps businesses make data-driven decisions, reduce errors, and optimize processes. For example, the latest release offers a machine-learning algorithm that helps users predict the risk of a late payment for invoices based on historical data. They also offer insights based on behavioral data to target potential late payers with customized collection plans. Predictive Insights: Enhanced data analytics and insights are a hallmark of newer software capabilities. With SAP S/4HANA Cloud, a new “Product Sourcing Overview” application not only analyzes vast amounts of data for the organization but also displays the information and prioritizes tasks most relevant to your needs in one dashboard when you need it. This allows for not only better decision-making but faster decision-making and prompt action. Sustainability Focus: With an increasing focus on sustainability and Environmental, Social, and Governance (ESG) initiatives, SAP S/4HANA now includes tools for tracking and reporting on sustainability efforts. For example, one new feature allows organizations to request data about a supplier’s carbon footprint. They can then use this data to make “carbon-conscious” decisions in the future. Another feature allows you to keep track of your company’s impact on local communities, particularly when it comes to managing potential incidents. Why Transfer to the Cloud? While these new capabilities are exciting to consider, moving to a cloud-based ERP is a significant decision for an organization to make. We have explored a few more overarching benefits of the cloud that may help your company make that decision. Scalability: The cloud allows you to scale resources seamlessly in response to fluctuating demands, ensuring optimal performance without unnecessary overhead. Cost Optimization: The shift to a cloud-based subscription model eliminated the need for capital-intensive infrastructure investments, redirecting funds to strategic initiatives. Enhanced Security: Advanced security features provide robust protection against cyber threats, bolstering data security and compliance. Agility and Innovation: The cloud environment empowers companies to swiftly adopt new technologies, driving innovation and enabling rapid response to market changes. Operational Efficiency: Streamlined processes and collaborative capabilities within the cloud ERP system lead to increased operational efficiency and improved decision-making. In a constantly evolving business landscape, transitioning to the cloud and embracing SAP S/4HANA Cloud’s latest release can position your organization to thrive and meet the challenges of today and tomorrow. With these advancements, you can streamline your operations, enhance your decision-making capabilities, and stay ahead in the ever-competitive marketplace. As technology evolves, staying at the forefront becomes essential, and SAP S/4HANA Cloud offers a pathway to that future. Are you ready to take your operations to the cloud? Contact us to learn more about our Managed Solutions capabilities and how we can support your transition journey.

Winter readiness is a crucial aspect of property management. As a property manager, you're not only responsible for maintaining the day-to-day operations of your property but also ensuring that it's prepared to face the challenges that the winter season can bring. From snow removal to heating system maintenance, having the right partners can make all the difference in keeping your property safe and functional during the colder months. In this blog, we'll explore how property managers can plan for the winter months and collaborate with staffing firms to ensure a smooth winter season. Addressing the Winter Challenge Winter brings a unique set of challenges for property managers. Snow removal, HVAC maintenance, plumbing concerns, and other seasonal issues require specialized expertise. It's vital to have a reliable and skilled workforce in place to address these challenges promptly and efficiently. Assess Your Property's Winter Needs: Before you start searching for partners, it's essential to assess your property's specific winter readiness needs. Every property is unique, and the services required may vary. This assessment will help you pinpoint the areas where a staffing firm can provide the most value. Consider factors such as: The size and layout of the property. The average winter weather conditions in your area. The types of equipment and systems in need of maintenance. The budget allocated for winter readiness. Plan for Budgeting: Winter readiness often requires a dedicated budget. Work with your team to create a budget that covers the cost of their services while staying within your financial constraints. Be prepared for unexpected expenses by setting aside a contingency fund. Access Specialized Talent: BGSF specializes in connecting property managers with skilled professionals in various fields related to winter readiness: Snow Removal Crews: Our staffing service can provide you with reliable and experienced snow removal teams who are equipped to handle any snowfall, ensuring the safety and accessibility of your property. HVAC Technicians: Maintaining heating systems is crucial during the winter months. We can connect you with certified HVAC technicians who can ensure your heating systems are in top condition and prepared to be utilized. Plumbing and Insulation Experts: Preventing and addressing frozen pipes and insulation issues is essential. Our network includes skilled building engineers and maintenance technicians to help address many of these issues. Grounds Maintenance: We can help you find grounds maintenance teams to keep your property's common areas safe and aesthetically pleasing throughout the winter season. Streamline the Hiring Process: Partnering with BGSF means you'll have access to a pool of pre-screened, qualified candidates. We handle the hiring and payroll processes for you, saving you valuable time and ensuring you get professionals who are ready to hit the ground running. Flexibility and Scalability: One of the benefits of working with us is the flexibility to scale your workforce up or down as needed. Whether you need a temporary surge in personnel during a heavy snowstorm or ongoing support throughout the winter, we can provide the right number of skilled workers to meet your demands. Finding the right partners for winter readiness is a critical aspect of property management. BGSF is here to assist property managers in assembling the perfect team to tackle winter challenges head-on. With our access to specialized talent, streamlined hiring process, flexibility, and reliability, you can ensure that your property remains safe, functional, and well-prepared for the winter season. Contact us today to learn more about how we can be your winter readiness partner.

Division Professional Division October 6, 2022 Read here!

Division Professional Division April 19, 2023 PeopleSoft Campus Solution PeopleSoft Campus provides a comprehensive solution for managing various aspects of educational institutions, including student and faculty profiles, course management, exam scheduling, and financial administration. For a large community college, as the platform expanded its user base and scope of services, the volume and complexity of data increased, resulting in slow search performance and a less-than-optimal user experience. BGSF Addresses the Challenges BGSF’s development team researched scalable and efficient search solutions that could be seamlessly integrated into their existing infrastructure. Elasticsearch emerged as a perfect fit due to its flexibility, scalability, and ability to handle large volumes of data. Learn More Here Click here to download the full case study and learn about the implementation process, project results, and conclusions that were drawn from the experience. If you are facing a similar challenge in your organization, click here to talk to an expert today!

Division Professional Division July 2, 2023 Client Challenge A National Healthcare organization needed support for the integration of a large hospital system acquisition, relocation of their corporate headquarters, and establishment of a centralized billing office (CBO) in Dallas, Texas. Solutions Delivered BGSF leveraged a dedicated engagement team and a contract-to-hire approach to streamline a customized recruiting process and staff onboarding. Learn More Here Click here to download the full case study and learn about project results and conclusions that were drawn from the experience. If you are facing a similar challenge in your organization, click here to talk to an expert today!

The world of finance and accounting is undergoing a seismic shift, driven by the rapid rise of financial technology, or fintech. Fintech is more than just a buzzword; it’s a transformative force that is reshaping the way businesses manage their finances. In this blog, we will explore the profound impact of fintech on strategic finance and accounting, shedding light on the key trends and innovations that are revolutionizing these essential functions. The Fintech Revolution Fintech encompasses a wide range of technological innovations that enhance and automate the delivery of financial services. These innovations leverage cutting-edge technologies, such as artificial intelligence, blockchain, big data, and mobile apps, to provide more efficient, accessible, and cost-effective financial solutions. In recent years, fintech has disrupted traditional financial institutions and accounting practices, with significant implications for strategic finance and accounting professionals. Automation and Efficiency: One of the most noticeable impacts of fintech in the world of finance and accounting is the automation of routine tasks. Fintech solutions streamline transaction processing, data entry, and reconciliation, reducing the need for manual labor. This automation not only saves time but also minimizes human errors, leading to more accurate financial data. As a result, finance and accounting teams can allocate more of their time to strategic analysis and decision-making. Real-time Data and Decision-Making: Fintech tools provide real-time access to financial data, giving businesses the ability to make quicker, data-driven decisions. This real-time visibility into financial performance allows finance professionals to react promptly to changes in the market and optimize their strategies accordingly. Whether it’s tracking cash flow, monitoring expenses, or managing investments, fintech tools provide real-time insights into financial health. Improved Security: The security of financial data is a top priority for businesses. Fintech companies invest heavily in cybersecurity measures to protect sensitive financial information. Many fintech solutions also leverage advanced encryption techniques and multi-factor authentication to ensure data integrity. This heightened security is especially crucial for accounting professionals, who deal with confidential financial records. Enhanced Reporting and Analysis: Fintech platforms provide sophisticated reporting and analytics tools. These tools can create custom dashboards, generate detailed financial reports, and perform advanced data analysis. This enables finance and accounting professionals to gain deeper insights into the financial performance of their organization and identify areas for improvement. Access to better analytics empowers businesses to make more informed decisions and adapt their financial strategies accordingly. Financial Inclusion: Fintech is making financial services more accessible to a broader range of people. It is breaking down barriers to entry for individuals and businesses previously underserved by traditional financial institutions. This inclusivity can open up new markets and opportunities for businesses, impacting their strategic financial planning and accounting practices. The Future of Fintech Fintech is not just a technological trend but a powerful force driving change in the finance and accounting landscape. Embracing fintech can help organizations stay agile, competitive, and well-prepared for the challenges and opportunities of the modern financial world. The strategic finance and accounting professionals of the future will undoubtedly be those who leverage fintech to its full potential! Our extensive network of finance, accounting, and IT consultants are available to help you navigate this new frontier. Contact us today to learn more!

With innovations like mobile banking, digital wallets, and cryptocurrencies, businesses of all sizes are relying heavily on technology to help them manage their finances efficiently. This financial data is not only becoming increasingly valuable, it is also becoming incredibly vulnerable to hackers. Therefore, securing your business's financial information is critical in today's market. Let's explore some trends in financial data security that businesses could utilize to safeguard their assets and maintain the trust of their customers and stakeholders. Secure Your Financial Data Enhanced Biometric Authentication: One of the most promising trends in financial data security for businesses is the growing adoption of enhanced biometric authentication methods. Traditional password-based systems are prone to breaches due to weak passwords or phishing attacks. Biometric authentication, which includes fingerprint recognition, facial recognition, and voice recognition, offers a higher level of security by uniquely identifying individuals. As this technology matures, businesses will increasingly implement biometric authentication to protect their financial systems and sensitive data. Blockchain and Smart Contracts: Blockchain technology is not limited to cryptocurrencies; it has the potential to revolutionize financial transactions and data security. Blockchain's decentralized ledger and smart contracts enable secure, transparent, and tamper-proof financial transactions. Businesses can use blockchain to streamline payment processing, reduce fraud, and enhance trust among partners and customers. Implementing blockchain technology in financial operations will likely become a standard practice in the future. Advanced Encryption Techniques: Encryption has long been a cornerstone of data security, and it continues to evolve. Future financial data security will see the adoption of more advanced encryption techniques, which offer increased resistance to data breaches, even in the face of emerging threats. Artificial Intelligence (AI) and Machine Learning: AI and machine learning are invaluable tools for businesses seeking to protect their financial data. These technologies can analyze vast amounts of data in real time, identifying irregularities and potential threats. By continuously monitoring financial transactions and user behavior, AI can detect fraudulent activities and respond swiftly. AI-driven security measures will play a crucial role in protecting business finances in the future. Employee Training and Insider Threat Mitigation: While technology plays a significant role in financial data security, businesses must not overlook the human element. Employees can inadvertently or intentionally compromise financial data security. Future trends will emphasize comprehensive employee training programs to raise awareness about security risks and best practices. Additionally, businesses will implement advanced insider threat detection to identify and prevent data breaches from within the organization. The Future of Data Security The future of financial data security for businesses is marked by innovation and resilience. As technology continues to advance, so do the threats to financial data. Staying informed about these future trends and investing in robust security measures is essential for businesses to secure their finances and maintain their reputations. Embracing these trends will not only protect your financial data but also position your business as a trustworthy and secure partner in an increasingly digital world. As a leader in both IT and Accounting & Finance solutions, BGSF is uniquely poised to help you develop, launch, and maintain your financial data security strategy. Contact us today to learn more!

Division Professional Division August 11, 2023 The Right One For You Choosing the wrong third-party vendor can be extremely costly to an organization, especially when it comes to your daily operations. But how do you select the right technology vendor that can support your organization’s unique needs? BGSF has perfected a selection method to help you find the right technology vendor the first time, saving you a lot of time and money! The Selection Process While it may seem time-consuming, going through a robust selection process helps you avoid operational setbacks and will end up saving you a lot of headaches in the future. This process includes: Gathering and ranking your top requirements Researching and recording everything (write it down!) Filtering in small steps (e.g. create a Request for Information, distribute a Proposal Request, etc.) Discover the Full Process Click here to download our white paper and learn the full selection process. If you find you don’t have the bandwidth to complete this process, BGSF has years of experience helping organizations with their vendor selection projects. Click here to talk to an expert today!

Property management companies handle an abundance of sensitive information, including resident data. This data, ranging from personal information to financial details, is a prime target for cybercriminals. Protecting resident data is not just a responsibility; it's a legal and ethical obligation. Let's explore the importance of property management cybersecurity and provide actionable steps to safeguard resident data. The Significance of Resident Data Security Legal Obligations: Property management companies are subject to numerous data protection laws, including the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). Non-compliance with these regulations can result in hefty fines and legal consequences. Trust and Reputation: A data breach can irreparably damage a property management company's reputation. Residents and prospective tenants trust property managers to keep their personal information secure. A breach can lead to a loss of trust and potentially drive residents away. Financial Implications: Data breaches are costly affairs. Not only do they result in fines and legal expenses, but they can also lead to lawsuits and compensation claims. Furthermore, the cost of remedying a breach and enhancing security can be significant. Steps to Enhance Property Management Cybersecurity Conduct Regular Risk Assessments: This process allows you to Identify potential vulnerabilities in your data management systems as well as assess the risks associated with resident data, including its storage, transmission, and access. From this assessment, you can then prioritize the most critical security threats and vulnerabilities. Employee Training and Awareness: It is critical to train your staff in cybersecurity best practices, emphasizing the importance of data protection. This could include conducting regular security awareness programs to keep employees informed about the latest threats and techniques used by cybercriminals. Strong Access Controls: Another important precaution you can take is to implement robust access controls to limit who can access resident data. You can utilize role-based access permissions to ensure that employees only have access to the data necessary for their job functions. Encryption: Resident data must be encrypted, both at rest and during transmission. Utilizing strong encryption protocols to protect data from unauthorized access can significantly support your data security efforts. Regular Software Updates: Keep all software, including operating systems and applications, up to date with the latest security patches as cybercriminals often exploit known vulnerabilities in outdated software. Firewalls and Intrusion Detection Systems (IDS): Firewalls are crucial for monitoring incoming and outgoing network traffic. Use may also use intrusion detection systems to identify and respond to potential threats in real-time. Incident Response Plan: Develop a comprehensive incident response plan outlining the steps to take in the event of a data breach, including assigning specific roles and responsibilities to key personnel for a fast and effective response. Data Backups: Regularly backup resident data to secure, offsite locations. You should also test data recovery procedures to ensure that backups can be restored in case of data loss. Protecting resident data is a paramount responsibility for property management companies. Failing to do so not only jeopardizes legal compliance but also undermines trust and can result in financial losses. By implementing a comprehensive cybersecurity strategy that includes risk assessments, employee training, strong access controls, and incident response plans, property management companies can safeguard resident data and maintain their reputation. Remember, cybersecurity is an ongoing commitment to keeping resident data safe in an ever-evolving digital landscape.

In the world of finance and accounting, every period, whether it’s a month, a quarter, or a year, serves as a crucial checkpoint for an organization’s financial health and reporting. One might assume that these periods are independent of each other, but in reality, they are interconnected, with each quarter-end close playing a significant role in shaping the year-end financial statements. One key component of an organization’s validation of their financial health, and determination of the completeness and accuracy of the financial information, is account reconciliations. The process of reconciliation will ensure and provide evidence to support the accuracy and validity of financial information. Also, a proper reconciliation process ensures that unauthorized changes have not occurred to transactions during processing. To further understand this intricate relationship, we must delve into the world of account reconciliation and balance sheet assurance. The Quarterly Challenge Each quarter, businesses undergo a rigorous process to close their financial books. This process involves reconciling accounts, reviewing transactions, and preparing financial statements. While it may seem like a routine task, the impact of each quarter-end close ripples throughout the year and significantly influences the accuracy of year-end financial statements.  This assurance provided from reconciling accounts is key for organizations to leverage in validating the accuracy and completeness of their financial information. Account Reconciliation Quarterly account reconciliation is a critical part of the quarter-end close process. This involves comparing the balances in a company’s general ledger accounts to supporting documentation, such as bank statements, invoices, and purchase orders. The goal is to identify discrepancies, errors, or omissions and resolve them. Why it Matters: Accurate Financial Statements: Reconciliation ensures that the financial data for the quarter is correct. This accuracy is crucial for stakeholders, including investors, regulators, and management, who rely on financial statements for decision-making. Early Error Detection: Detecting and correcting errors at the end of the quarter prevents these inaccuracies from accumulating over the year, which could have more significant consequences. Cleanup of Outstanding Transactions As part of the quarter-end close, organizations also perform a cleanup of outstanding transactions. This involves reviewing and resolving any open or unresolved items that may have been carried forward from previous quarters or years. Why it Matters: Clearer Financial Picture: Cleaning up outstanding transactions ensures that the financial statements accurately reflect the current financial position. It prevents old or irrelevant items from distorting the picture. Improved Decision-Making: Managers and executives rely on accurate financial data for decision-making. Cleaning up transactions ensures that they have reliable information to base their strategies on. The Quarter-End to Year-End Connection Cumulative Impact: Each quarter-end close builds upon the previous one. Errors or discrepancies left unaddressed in one quarter can compound, leading to significant distortions in year-end financial statements. Transparency: Transparent and accurate quarter-end closes provide stakeholders with confidence in the company’s financial reporting. This trust extends to year-end statements, which are often subject to external audits. Forecasting and Planning: The accuracy of year-end financial statements is critical for future planning and budgeting. Inaccurate data can lead to poor decision-making and misjudgment in future strategic planning. As you connect the dots between quarter-end closes and year-end financial statements, remember that precision in your financial processes is key to success. By maintaining a keen focus on account reconciliation and clean-up, you’ll not only navigate the quarterly challenges but also set the stage for a strong financial year ahead. Do you need support in your quarter-end and year-end closing processes? Our extensive network of accounting & finance resources is here to help. Contact us today !

Lorne Kaufman, Senior Vice President of Managed Services In this uncertain landscape of modern business, organizations are continually seeking ways to optimize their operations and stay ahead of the curve. One significant endeavor that exemplifies this drive for innovation is the migration of enterprise systems to the cloud. This article delves into the enlightening journey of a forward-thinking client who successfully migrated their ERP system from on-premises to Oracle Cloud Infrastructure (OCI). Here we’ll examine the strategic considerations, technical intricacies, security measures, and tangible benefits that characterized their transformation. Strategic Considerations: Setting the Stage for Transformation The decision to migrate their ERP system to the cloud was rooted in a strategic vision to enhance operational efficiency, enable scalability, and position themselves for future growth. The existing on-premises setup was becoming increasingly cumbersome to manage, inhibiting agility and stifling innovation. The client decided to adopt OCI due to the platform’s reputation for providing high-performance cloud infrastructure, advanced security features, and a robust ecosystem of cloud services that could cater to their diverse business needs. Technical and Security Design: Paving the Way for a Seamless Transition One of the cornerstones of the successful migration was a meticulous technical and security design. Collaborating closely with Oracle experts, they crafted a blueprint that addressed critical aspects such as network architecture, data storage, and disaster recovery mechanisms. Rigorous encryption standards were applied to safeguard sensitive data, and access controls were established to ensure that only authorized personnel could access the cloud resources. The decision to leverage Oracle’s advanced security capabilities provided them with the confidence needed to move their mission-critical ERP system to the cloud. Selection of System Integrator (SI): Partnering for Success Recognizing the complexity of their migration, they made a strategic choice in selecting a seasoned System Integrator (SI) to guide them through the process. BGSF not only provided technical expertise but also a deep understanding of the OCI platform. Collaboratively, we devised a migration roadmap that encompassed assessment, planning, testing, and deployment stages. This partnership proved invaluable in navigating challenges and ensuring a seamless transition that minimized disruption to the client’s operations. Migration Details: From Concept to Reality The migration process itself was a meticulously choreographed ballet of moving parts between us and the client. Data migration was executed with precision to ensure data integrity and minimal downtime. Existing customizations and integrations were carefully reviewed and adapted to the cloud environment. The collective technical team worked to test and validate each component of the system, leaving no stone unturned to ensure a smooth transition. Internal Training: Empowering the Workforce Recognizing that technology alone could not guarantee success, the client invested in comprehensive internal training for their workforce, provided by BGSF. Employees were educated on the new platform’s features, benefits, and best practices. Change management strategies were also employed to foster acceptance and enthusiasm among staff members, ensuring a swift and positive adaptation to the new cloud-based ERP system. Realizing Tangible Benefits: A Journey of Ongoing Transformation The migration marked the beginning of a new era for the client. The benefits they realized extended beyond the initial transition phase and continue to shape their operations: Scalability: OCI allowed the client to scale resources seamlessly in response to fluctuating demands, ensuring optimal performance without unnecessary overhead. Cost Optimization: The shift to a cloud-based subscription model eliminated the need for capital-intensive infrastructure investments, redirecting funds to strategic initiatives. Enhanced Security: Oracle’s advanced security features provided robust protection against cyber threats, bolstering data security and compliance. Agility and Innovation: The cloud environment empowered the client to swiftly adopt new technologies, driving innovation and enabling rapid response to market changes. Operational Efficiency: Streamlined processes and collaborative capabilities within the cloud ERP system led to increased operational efficiency and improved decision-making. Conclusion The journey from on-premises to OCI showcases the transformative power of strategic cloud migration. By carefully considering their motivations, enlisting the right partners, and meticulously planning the technical and security aspects, the client successfully navigated the complex landscape of ERP migration. Through internal training and change management, they ensured that their workforce embraced the change and reaped the benefits of enhanced agility, security, and operational efficiency. As they continue to realize the ongoing advantages of their cloud-enabled ERP, this journey stands as an inspiring testament to the potential of embracing innovation and transformation in the digital age. Are you considering migrating to OCI? Click here and learn how we can support you in your journey!