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Ch10 - EnterpriseResourcePlanningandCollaborationSystems.docx

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School
Department
Business
Course
BUSI 3040U
Professor
Stephen Marsh
Semester
Fall

Description
Ch10EnterpriseResourcePlanningandCollaborationSystems101TransactionProcessingSystemsTransactionany business event that generates data worth being captured and stored in a database Transaction processing systems TPSinputs for functional area information systems and business intelligence systems as well as for business operations such as customer relationship management knowledge management and ecommerceHave to efficiently handle data in high and large volumesMust avoid errors and downtimeRecord results accurately and securelyMaintain privacy and securityWhen multiple persons or application programs can access the database at the same time it has to be protected from errors resulting from overlapping updates When a transaction involves more than one computer the database and all users must be protected against inconsistencies arising from the failure of any component at any timeA transaction must be reversible in its entirety if it turns out to be an errorImportant to preserve an audit trail May be legally required for certain transactionsSource data automationorganizations automate TPS daata entry because of large volumes of data involved1People or sensors collect the data which are entered into the computer via any input device2Then the system processes the data in one of two basic waysabatch processingdata are collected from transactions as they occur and are placed in groups or batchesbonline transaction processingbusiness transactions are processed online as soon as they occur102FunctionalAreaInformationSystemsFunctional area information system FAISprovides support for the various functional areas in an organization by increasing each areas internal efficiency and effectivenessOften convey information in a variety of reportsTypical FAIS support accounting and finance marketing productionoperations POM and human resource managementInformationSystemsforAccountingandFinance1FinancialPlanningandBudgetingaManaging financial assets is a major risk in financial planning and budgetingbFinancial and Economic ForecastingiKnowing the availability and cost of money is key for successful financial planningiiCash flow projections are important because they inform the organization what funds they need when they need them and how they will acquire themcBudgetingiAn essential part of the accountingfinance functioniiThe annual budget allocates the organizations financial resources among participants and activitiesiiiEnables management to distribute resources in the way that best supports the organizations missions and goals2ManagingFinancialTransactionsaMany accountingfinance software packages are integrated with other functional areasbCompanies involved in electronic commerce need to access customers financial data ex credit line inventory levels and manufacturing databasecGlobal Stock Exchange Financial markets operate in global 247365 distributed electronic stock exchanges that use the internet to buysell stockdManaging Multiple Currencies Global trade involves financial transactions in different currencies and are constantly in flux eVirtual Close Companies closed their books accounting records quarterly to meet regulatory requirements Information Systems enable firms to close the books quickly in a process called a virtual close provides almost realtime information on the organizations financial healthfExpense Management Automation Automate the data entry and processing of travel and entertainment expenses Enable companies to quickly and consistently collect information enforce company policies and contracts and reduce unplanned purchases as well as airline and hotel services 3InvestmentManagementaManaging these investments in stocks bonds real estate and other assets is a complex task becauseiLiterally thousands of investment alternatives which are dispersed throughout the worldiiThese investments are subject to complex regulations and tax lawsiiiInvestment decisions require managers to evaluate financial and economic reports provided by diverse institutionsivThousands of web sites provide financial data often for freebTo monitor interpret and analyze the huge amounts of online financial data financial analysts employ 2 major types of IT ToolsiInternet search enginesiiBusiness intelligence and decision support software4ControlandAuditing
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