February 13, 2018 * Loren at 1:29 pm
It’s time to dump those old Accounting books
Gone are the days of the old accounting books. Gone are the days of carrying office books home. Departments in the company, in those days, were given specific books to carry out their day-to-day operations. Everything used to be updated in the company’s books.
Now everything is online giving you automated results. Every department has its unique destination in the information system. It’s a Paperless business now. Technology has helped the organisation to run smoothly giving real-time solutions and quick access to data.
Information systems capture data, process it and retrieve it when needed. Now we have a software for every specific need. Say bye to accounting books.
Accounting Software helps the organisation manage the company’s budget, capital and operational expenses. It allows you to monitor the assets and liabilities of the company. It helps the company to forecast the cashflow and expenditure based on the previous trends. It shows the resources available in hand and generates reports, profit & loss statements and analytics. It helps the company to stay profitable.
HR systems maintain all the information that HR personnel used to do manually in those days. It will take care of all the HR department work like payroll, timesheets, training, employee benefits, HR costs, recruitment, job offers, assignments, retention, employee productivity, employee satisfaction etc.
Marketing information Systems will take care of the sales, interaction with the Dealers, Suppliers and Brokers. It helps generate new business and in the growth of the company. It will also allow you to target a particular audience and helps with market research and customer feedback.
Inventory Management systems will assist in purchasing and sales. For procurement, invoice reports and delivery reports can be generated. It helps in the effective usage of resources for the normal functioning of the organisation.
Operations management will include the procedures and policies to be followed for doing a particular task and making sure the resources are allocated correctly.
Incident reporting is another component of the operations. Making sure workflow stays on track and issues are resolved and do not reoccur.
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