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Posted: April 13th, 2023
In-Class Discussion
Chapter 10: Information Systems within the Organization
1. How do information systems benefit the finance and accounting functional area?
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2. Define ERP and describe its functionalities. List some drawbacks of ERP software.
3. What are the three inter-organizational processes that are typically supported by ERP systems?
4. Highlight the differences between ERP configuration, customization, and best of breed implementation strategies.
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Julian Lao
Chapter 10 Discussion
COLLAPSE
1. How do information systems benefit the finance and accounting functional area?
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Benefits of a financial management information system are a faster decision process, better planning, more efficient business, a competitive advantage, and allows for integration. Adoption of information systems helps simplify business processes and removes unnecessary activities. The security information systems add controls to employee processes, ensuring that only users with the applicable rights can perform certain tasks. Also, information systems eliminate repetitive tasks and increase accuracy. Functional area information systems are systems that provide information to managers (usually midlevel) in the functional areas, in order to support managerial task of planning, organizing, and controlling operations.
Anthony Arcos-Duque
Discussion #11
COLLAPSE
1.Define ERP and describe its functionalities. List some drawbacks of ERP software.
ERP is Enterprise Resource Planning systems in which systems are designed to correct a lack of communication amongst the functional areas in Information Systems and overall make the organization more efficient by integrating planning, management, and the use of the organization's resources. Some of its functionalities are that it makes the organization more flexible and agile when organizing, theres support in decision making, and the possibility of quality and efficiency would improve greatly as well. The drawbacks of ERP software are that they take a lot longer to implement and install and usually go over the initial budget than first planned. Also, since the ERP's are based on best practices, companies might have to change their methods of achieving business objects. Also, The success rate of ERP systems are very low and usually they don't give the success rates that are looked for on most projects. The fail rates tend to be higher and even when the projects do succeed, it could have been done another way and recieved the same results faster and cheaper.
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