Kudler Accounting System Paper

Kudler Accounting System Paper

The accounting system is a crucial part of the business operations systems. The current accounting systems, while comprehensive, are lacking some key features that could increase benefits and reduce losses. The accounting information systems are used to gather financial data and provide information for internal and external decisions. These decisions include marketing, purchasing, payroll, investments, sales, and accounts, both payable and receivable.

The purpose of a new accounting information system is to take advantage of new key features and core technologies that will help o keep the company agile in its decision making and better prepared to compete in today’s market and economy. The current system is modular in design and made to be scalable so the additions and updates can be made so that a new accounting system could incorporate and build on the existing system.

Key Features The key features for the purposed accounting information system include integrating the accounting systems with the rest of the enterprise systems, auditing software, budgeting software, integrated accounting and finance software, the use of CABLE programming language for filing reports, ERP Enterprise Resource Planning), SCM (supply Chain Management), CUFF (Collaborative Planning, Forecasting and Replenishment), CRM (Customer Relationship Management) and, KM (Knowledge Management).

Key features would also include financial planning and budgeting, financial and economic forecasting, as well as integrated accounting and business software. Industry specific software would be used tie in expenditures to program for accomplishment. IT systems will also make use of auditing to help track fraud and other harmful expenditures. Financial ratio analysis will become more accurate as they can be completed faster and with more information. Profitability analysis and cost control will be able to function at optimum performance levels with constant and additional data feeds.

Core Technology The ERP system for the new accounting information system is software that will create an infrastructure that links the various areas of the enterprise system together to help facilitate internal applications and decisions as well as external business processes. The SCM systems oversee and manage the steps in the supply chain, such as transportation, manufacturing, inventory, ND scheduling. CPRM systems have the ability to predict ordering needs, forecast supply demands and coordinate with supply chain partners to help fulfill the business needs.

CRM software will help to manage customer relations by creating custom views that display customers with similar needs grouped together and improve potential sales. KM software would be used to order, share, and maximize information use across multiple systems. The use Of CABLE as a programming language for report filling will allow for accounting processes to be completed faster and more accurately. Additional auditing ND finance control software will allow for cash-flow monitoring to be performed in near real time to help reduce the risk of fraud, theft and system misuse.

Benefits The benefits to integrated accounting and finance software include improved management of cash flow, assets, liabilities, and profit statements. Better regulation over business critical systems and the monitoring for the prevention, detection and investigation of fraud. Financial and economic forecasting and budgeting systems will help to predict availability of funds and optimize purchase times. Profitability analysis and cost control will roved insight into activity based cost analysis that will present increased opportunities for profit and what-if situations to help model business strategies.

The enterprise resource planning systems will have the benefit of linking internal applications to make them more manageable and efficient. These systems are beneficial in managing costs and controlling inventory. This makes accounting information systems more powerful and profitable. ERP also links together human resources, finance, and operations into an authoritative data source. Supply chain management systems will provide the infinite of increased management over the flow of materials, data, and money.

SCM systems will increase efficiency in order fulfillment and help to monitor logistics for better flow of product storage and placement. SCM software helps to improve decision making scheduling, inventory control, and transportation. Collaborative planning, forecasting and replenishment systems work with SCM systems to help streamline the flow of product from manufacturing all the way to the customer. CUFF systems also help to predict and coordinate with supply chain partners to help with strategy and planning, emend and supply management, execution, and analysis.

Customer relationship management systems will help build greater customer loyalty, reduce the loss of customers, up-sell, and maximize advertising efficiency. Knowledge management systems will help with the gathering and sharing of important company information. KM systems will help make that information more useful and accessible. Costs The costs include the purchase and installation of the new software and hardware systems as well as the integration of the systems into the enterprise system and training on operating the new systems.

There is also the potential cost of systems failing and causing complications with cash flow, finance, product ordering, and shipping. The potential cost of system failure is one reason to insure that systems are installed and tested correctly at the beginning. Costs can also include lost sales, lost customers, lost opportunities for expansion, and reduced profits from not updating the accounting information systems. The potential for cost from not updating should be weighed against the expense of purchase and installation of the new systems.

Conclusion The new systems can be integrated with the existing enterprise systems. They will increase the ability to track finances, profits, losses, and debts. They will make the business more agile and able to adapt to economic changes as well as increase efficiency in the flow of goods from manufacturing, to storage, and on to the customer. There is potential for loss if the systems are not installed correctly and the systems will need to be completely integrated to take full advantage of their potential.

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