The main expected advantages of financial software
The system should provide the application the ability to determine where the company is related to the goals of profitability and break-even points and also to determine where changes and adjustments are necessary. The system should provide ongoing compliance with industry or governmental accounting standards to outside entities may rely on financial information company. There should be a better understanding of the financial health of the company both as an entire business unit and individual. Data access objects such as database, table,
field, and index objects, were used as primary methods to connect and manipulate data in the database. The data access objects constitute the foundation on which this application is built.If any of these benefits are lacking, the system is not providing you with everything it should (Atrill, 2004).
Accounting information system
AIS is used for the decision making in the organization. AIS records transactions, events and procedures of the information for the purpose of evaluation. It also facilitates the future decisions. The role of AIS in measuring success of the organization is that it serves its purpose as the backbone of the information system of the organization. AIS is the integrator of the organizational information process.
Benefits of AIS
Generally, the AIS offer benefits such as cost cutting, saving time in accounting procedures performance, quick and easy access to financial data, advance preparations of financial statements and improvement in the overall efficiency of the business.
This system refers to purchase of the accounting software from Oracle. This software includes the basic and fixed applications which can be helpful for small businesses. It is the cheapest form of accounting software.
Modification of existing AIS
This software adds-on to the existing system of the company/ it is important for a growing business as it is offered with the extra accounting features. This software generally includes the internet postage or online bill payments.
Purchase of AIS from Oracle
This software would be made by the Oracle Company customizing the software according to the needs and requirements of the company. This software is usually availed by the large business and organizations. This option is highly expensive, starting from $100,000 (Bennett, 2006).
Oracle PeopleSoft Enterprise applications are able to meet the highest business requirements. They represent a comprehensive solution for enterprises, allowing achieving:
Acceleration of the enterprise;
Reduce cost of ownership.
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Benefits and Result
Increase in productivity
Interaction with the user by the standards of Web 2.0 increases the efficiency of
New tools for collaboration to support business processes
Support informed decision-making through the workstations, panel indicators and built-in analytical tools (Elliott, 2004),
Complex business processes are executed integrated solutions
Powerful, full-featured application meets current business requirements
Proposals sharpened the specifics of specific industries
Reduced cost of ownership
There is no need to amend or refer to narrow-profile suppliers - products contain the features ...