If we were to describe AI in inventory management in one word, it would be: optimization. The thing about AI in inventory management is that, for the most part, the technology has been there for quite some time now. While Chat-GPT and other AI models have influenced a meteoric rise in success in some business
AI has been making the rounds across the business landscape. It’s no secret to anyone that AI in the finance industry has been the talk of the town. We at EA recognizing this surge in AI popularity, have launched a series of publications. These aim to spread awareness and encourage healthy skepticism. As with any
What is Inventory Valuation? Inventory valuation is all about putting a dollar value on your inventory and making further decisions based on that value. Zoho defines inventory valuation as “An accounting practice that companies follow to find out the value of unsold inventory stock when they prepare their financial statements.” The whole point is to
Automated work has taken the world by storm. Every day, the business landscape continues experimenting and seeing how far we can go from offloading tedious, time-consuming work to automation. Hence, to pursue more productive endeavors at work. The accounting function has perhaps seen the most automation integration out of any business function. Accountants are looking
Accounts Receivable (AR) automation has been around for quite some time. BusinessWire reported in 2021, 23% of businesses reported sparing no expense in leveraging this technology to optimize the collections process. However, there is still skepticism among the people. The “AI hype vs. reality” conversation has sparked a vast debate on whether automation and algorithm-based
It is happening. And it won’t stop. AI is automating accounting workflows. From automating daily tasks and analyzing past data to improving tax compliance, AI is saving time and money. By now, we all know AI isn’t just a buzzword. It is a game changer. The future is knocking. Its algorithms can process data at
The hospitality industry is among the most competitive business sectors. Hotel cash flow management often becomes the factor that decides the victor. Hotels need vast capital to function, from maintenance costs to service provision expenses. That is why it is not uncommon for cash flow to suffer due to market saturation, especially in the off-season.
Within the dynamic realm of hospitality, where each visitor encounter is painstakingly designed, hotel accounting stands out as the unsung hero working behind the scenes. Behind the opulent décor, fine meals, and friendly greetings, a hotel’s accounting systems drive its financial core. This crucial but frequently disregarded element is the foundation for efficient operations, legal
Accounting cybersecurity has been a hot topic of debate in the business landscape over the last decade. The conversation became especially relevant once remote work took over during the pandemic years and now, in the post-pandemic times. 2023 was an especially eventful year for the digital landscape, thanks to ChatGPT opening the floodgates on AI
“How to start a hotel business?” is not a question you come across every day, but when it does come up, it gives your mind a run for its money. After all, while most of us are no strangers to staying at hotels, how many of us have ever really thought of how to start