Author Question: Explain the accounting problems faced by organizations using traditional procurement processes. ... (Read 13 times)

dollx

  • Hero Member
  • *****
  • Posts: 558
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

  • Sr. Member
  • ****
  • Posts: 376
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.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

For a complete list of videos, visit our video library