Essay Example on the Shift of Technology: How It Impacts Business and Customers

Technology is experiencing a significant shift from what it used to be. Everything is shifting from traditional methods to new digital processes. For instance, there is data automation, use of artificial intelligence, among other technologies. The shift in technology also affects customer's demands, running of a business, and employment practices. Bookkeeping and accounting departments are considered pillars of most business; thus, when the departments are well managed, the company will thrive. The use of automated software in accounting get thought to result in fast processing speed, easy and secure storage of data as well as quick retrieval of information. The main aim of the project get based on automating the accounting system used by the Regional Universities Forum (RUFORUM) secretariat and also providing the best option that is of many benefits to the organization.

Is your time best spent reading someone else’s essay? Get a 100% original essay FROM A CERTIFIED WRITER!

Save 25%

RUFORUM is an organization that got initiated back in 2004 to strengthen universities' capabilities by promoting innovations in the agricultural sector (Ekaya et al., 2010). The organization began with only ten universities but has been growing and expanding to accommodate more. It has even gone further to opening doors to any form of partnership within Africa and also outside (Ekaya et al., 2010). In its processes, the organization manages and receives cash from many sources. The current manual system used in the organization is time taking and not reliable since the human error may get incurred due to the ambiguity of workload. Thus, the need to have an efficient, secure, and fast accounts management system can only get achieved through the installation of automated systems. The two system options that the implementing team can opt is the installation of PASTEL or NAVISION accounting software.

However, as much as PASTEL gets formulated in a way that it can be able to withstand both small and big organizations, it is found to have poor user-friendly. NAVISION, on the other hand, has excellent features that can withstand big organizations just like PASTEL but is more advantageous in that it is user-friendly (Tapang & Jones, 2018). Given that the organization is aiming at expanding its scope, the NAVISION accounting system thus proves to be the best software that can be relied upon (Collins, 1999). NAVISION can handle a variety of currency transactions; therefore, saving the organization money that would get used to purchasing different software to perform various operations. The software can track transactions; thus, cases of theft within the accounting departments get minimized. The software saves the accountant time of duplicating voucher payments, and they can then use the time to perform more useful tasks in the organization. Exportation of data to excel gets made possible, too, thus the need to use NAVISION software (Collins, 1999).

However, it may be costly to purchase the software and pay for it monthly. Like in the case of NAVISION, the infrastructure cost is $ 650, implementation cost is $ 1500, the license of the software is $ 65 monthly, and a maintenance cost of $ 625 (Collins, 1999). A total cost of $ 2840 gets incurred upon installation, but since the system saves the organization time and money, a need for considering it is higher. More transactions can get processed monthly as compared to when using the manual system, and more organizations will be interested in partnering with them, implying that the cash inflow will also go up. The time that the accountant manager spends processing the transactions will be used in doing other beneficial work.

Conclusion

In conclusion, it is evident from the above explanation that an automatic accounting system is vital for any growing organization like RUFORUM secretariat and thus the need to have an efficient, reliable, time and money software system. NAVISION software has proven to be the security software that most organizations should consider.

References

Collins, J. C. (1999). How to select the right accounting software. Journal of Accountancy, 188(4), 67. Retrieved from http://search.proquest.com/openview/77b216c6dba5866b51a3c42ddaaf23b3/1?pq-origsite=gscholar&cbl=41065

Ekaya, W. N., Chindime, S. C., Ochola, W., Dhlamini, N., Adipala, E., Brooks, R. U. F. O. R. U. M., ... & Tenders, R. U. F. O. R. U. M. (2010). Experiences and lessons from implementing RUFORUM supported regional MSc. And Ph.D. programs. In the RUFORUM Biennial Conference Working document. Retrieved from http://www.cabi.org/GARA/FullTextPDF/2013/20133184592.pdf

Tapang, A. T., & Jones, E. (2018). The role of sage pastel evolution in the accounting profession in Nigeria. Journal of Accounting and Financial Management, 4(6), 20-28. Retrieved from http://iiard.com/index.php/JAFM/article/viewFile/1419/1411