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Further, Oracle also has templates and process definitions for the electronics components market as well. Lastly the financial modules with Oracle can also be used for local government reporting in addition to SOX compliance.
For the small business of $2M their needs are drastically different than the $100M distributor that has offices across multiple geographies. The $2M company for purposes of this example is a manufacturer of air conditioning spare parts and is heavily manufacturing based. Their customer base is primarily throughout the U.S. Their primary need is for an accounting system that can has Accounts Receivable, Accounts Payable, General Ledger, Billing, Inventory Management, distributed order management and sales order management, all core functions of an accounting system (Collins, 2006). In addition this small manufacturer also needs support for Debt Collection, electronic payment processing, online payroll, timesheets and purchase requisition as well. All of these features can be found in low-end applications from Intuit (Anders, 2006) in addition to Microsoft Dynamics, Syspro and many others that are increasingly relying on the Web as their primary delivery platform (Lin, 2004). Given the highly distributed n nature of the business it is critical for the company to consider hosted or Software-as-a-Service (SaaS) based models as well (Lin, 2004). It is recommended that the large enterprise choose the Oracle eBusiness Suit due to its support for global transactions and VAT expertise, in addition to integration with transaction databases and support for SOX compliance. Oracle's eBusiness Suite sells for approximately $35,000 and requires Oracle database prerequisites and either a Microsoft or UNIX-based operating system to operate. For the small business it is recommended that they choose Intuit Online as it is SaaS-based and also provides for flexibility of the core accounting functions necessary to run the business.
Cost Comparisons and Recommendations
References
Susan B. Anders. (2006). Website of the Month: Accountant.intuit.com. The CPA Journal, 76(11), 70-71.
Phillip G. Armour. (2005). Sarbanes-Oxley and software projects. Association for Computing Machinery. Communications of the ACM, 48(6), 15-17.
J Carlton Collins. (2006). Small Business Software Grows Up. Journal of Accountancy, 201(3), 50.
Ivancevich, S., Ivancevich, D., & Elikai, F. (2010). Accounting Software Selection and Satisfaction. The CPA Journal, 80(1), 66-72.
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An incorrect entry or inherent errors in the accounting procedures (for instance mistakes in contract cost allotment) can endanger the system. Organizations need to make sure that their employees are well versed with the latest cost accounting policies and have a backup plan for unfortunate mishaps. The presence of recruits who are unaware of the cost accounting process often destabilize the investments made on the accounting software (Tinsley, 2010). Time
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