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Author Question: Explain the accounting problems faced by organizations using traditional procurement processes. ... (Read 14 times)

dollx

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on: Jul 7, 2018
Explain the accounting problems faced by organizations using traditional procurement processes.
 
  What will be an ideal response?

Question 2

How can organizations fix information silos?
 
  What will be an ideal response?


joneynes

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Reply #1 on: Jul 7, 2018
Answer to Question 1

One of the problems was to ensure that the three-way match was correct. When discrepancies occurred, the accounting department had to begin a costly and labor-intensive process that required several emails to the warehouse and the supplier to resolve. The other accounting problem was that accounting reports always lagged; they were never up to the minute. This was a result of not sharing real-time accounting data throughout the organization.

Answer to Question 2

One fix to the information silo problem is to duplicate the datamake a copy of the data that is isolated and make it available to the process that needs it. However, when duplicated, the data can quickly become inconsistent when changes are made to only one set of data. The most complete fix to eliminate information silos is to store a single copy of data in a shared database and connect the business processes to that database.


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