Business Software: Accounting Dynamics V.3 - Research Paper Example

This calls for a unique strategy to overcome the challenge by reducing production cost, as we increase revenue. This can only be made true by application of this solution; the accounting and finance departments will require minimal staffs, and minimal surveillance. This is from its level of competency in regard to task execution and security. It is evident that by automating all accounting procedures, we would give a solution to time saving, thus higher level of productivity (McKie, 2008, p. 34) An accounting department is one of the crucial departments in any organization.

The department has the responsibility of tracking all recoverable, payables, among other financial records. It is also the duty of the department to examine the financial health of an enterprise. This is the reason behind our research and innovation of the new product is giving users' solutions to account drawbacks in dynamic business environment. This is one of the newest products in the market with capacities of giving all essentials in a business setup on an accurate, real time accounting environment.

The tool fits all midsized and small enterprises around the world. One of the distinguishing characteristics is its new functionality, which is powerful in reporting and analyzing all accounting statements. What does the solution offer? 1. The product brings financial discipline to the business. It is evident that all businesses function through a range of disciplines: operational skills, purchasing and supply management, and sales and marketing. The accounting solution will have the capacity integrating all financial processes in these disciplines.

Despite the level of experience in reference to skills and training, midsized and small sized businesses require a full range of functions to attain the highest level of success (McKie, 2008, p. 39). 2. Project monitoring The solution has the capacity to monitor financials, manufacturing and supply chain, service management, and sale and marketing. These also include other business operations in a single business platform. This integration will automate and streamline common daily entries in independent departments.

In regard to project managers, they will easily enter data, and later process invoices at a convenient pace. This will enhance productivity and time management in different business management. Human errors will also be minimal in all undertakings (McKie, 2008, p. 40). 3. It’s a built-in analytical tool This ensures that the tool has a capacity to identify different potential opportunities within an enterprise. However, users must use real time data to benefit fully. We also recommend enterprises with financial problems to use the software, as its will facilitate spotting loops thus minimizing financial headaches.

It also sends notifications in case significant metrics reach milestones (McKie, 2008, p. 40). What does the product NOT claim to offer? The product is highly incompatible with almost all outdated technology infrastructures. Enterprises willing to benefit from its benefit must update the whole system.. However, the disadvantage results from the fact that all previous infrastructures have undesirable levels of security, in reference to the minimum requirements outlined in users’ guide (Morris, 2010, p. 17). Evaluating the credibility of sources This measures the claim’