ACC 622 Topic 5 DQ 2

Topic 5 DQ 2 Explain how the increased use of e-commerce, including electronic data interchange (EDI), by businesses has affected the auditor or accountant. In your response, do not use the same reasons e-commerce has increased that have already been posted by a classmate. Ascending | Descending My Posts | Substantive |Flagged | All Nov 23, 2018 12:46 PM0 Like Me 2 posts Re:Re:Topic 5 DQ 2 It is an important application that helps in integrating and collaborating all the individual department functions and tasks into a single software application under various tabs. It works like single software where we can access finance, accounts, HR and operation functions etc. It is very essential things in these days business and it has various advantages: It helps in streamlining the process and reduces the operational cost. It provides provision of single point of information. Help in reporting and MIS as it being the single and integrated source of information. It helps in making data for Business intelligence and insight of the business. It helps in various functions in HR’s finance and especially in Inventory and SCM. Apart from having several advantages it has few disadvantages as well: Cost of implementation of an ERP is too high for the small organization to implement. Making employee aware of the ERP functioning requires a lot of training. Proper evaluation and needs check is required before implementing else it will fails and company has to bear huge cost. Additional cost to set up ERP as an IT backup and support team to check ERP functioning. But the disadvantages can be overcome and then it can be useful for the organizations. Nov 21, 2018 10:40 PM0 Like Carolyn Hawk 2 posts Re:Re:Re:Topic 5 DQ 2 Tyler, Thank you so much for your response! I think this potentially go can all go hand-in-hand with the cloud computing and how we choose to situate our information. The data interchange can become so messy as we tend to network with so many different vendors, investors, customers, financial advisors, ect that we need a way to clean-up (in