Improving Transactional Processing in AIS Research Paper

Improving Transactional Processing in AIS - Research Paper Example Purposes of Compliance Checks/Checking Systems a) Enforcement: to enforce company administrative policies, criminal statutes or both. b) Educational: to warn, educate and identify processes, departments or employees that are not meeting required standards. Implementing Compliance Checks/Checking Systems Employees, departments and various are made aware that compliance checks will be conducted at different times annually. They are also informed about potential penalties for lagging behind in the uplifting and maintenance of accounting regulations, standards and requirements (Williams & Spaul, 2011). If employees and personnel keep flaunting or falling short of accounting standards, the company can issue citations either to departments or specific people. These citations stipulate actions that may be taken to address such matters and how they will be addressed so that normal operations are maintained. Importance of Compliance Checking Systems In many companies, maintaining relevant acc ounting standards is a huge challenge. Employees and company officials may find it easier to come up with compliance checks than to maintain them. Compliance checking systems ensure that all relevant and appropriate standards are maintained as is necessary. Compliance checking systems may be the most effective and efficient method for enforcing rules, regulations and other stipulations concerning or relating to accounting standards. Recent studies have shown that compliance checking systems are effective. Two studies found that following the implementation of compliance checking systems, operations became more efficient and effective and employees found it so much easier to meet set targets without having to struggle (Bagranoff, 2008). In one company, for example, operational efficiency increased from 10% to 28% from 28% to 10% following the introduction and implementation of compliance checking systems. In another company, there was an immediate increase in the levels of compliance (12% to 29%). In addition to this, a national survey revealed that 66% of companies approve of compliance checking systems and policies (Williams & Spaul, 2011). Compliance checking systems provide a way through which employees and companies can "police" themselves. This is in addition to providing a source of motivation, participation and support that can greatly enhance overall accounting operations. Considerations for Implementation If compliance checks are not implemented well, they may be legally challenged by employees, suppliers and vendors who can claim unlawful entrapment. Successful compliance checking systems steer clear of tactics that may be viewed as "entrapment." (Gelinas, 2010). Apart from this, compliance checks and checking systems should be carried out, implemented and reviewed regularly in order to prevent laxity and a drop in standards. Companies that carry out checks at least twice a year report an average efficiency and compliance rate of 60%, which is good f or business and efficiency. b) Cash Disbursements Systems Objectives of Compliance Checking Systems include the following: a) Maintaining security of all cash held and received on a company’s premises. b) Banking all cash that are received intact every day c)

The Benefits of Information and Communication Technology in Henrich Dissertation

The Benefits of Information and Communication Technology in Henrich International Associates (HIA) A Small and Medium Enterprise - Dissertation Example In addition, the aim also assessed how ICT can foster knowledge transfer within HIA. The study made it evident that ICT act as a tool that has the ability to offer competitive advantage to a firm. It has been found that ICT also provides several advantages to a firm. Some of the obvious ones are increased the communication system, reduced the cost of communication, allowed retrieval of vast information and facilitated centralized control. Apart from that ICT also help companies to transfer knowledge within the organization. The primary research portrayed that the employees of HIA have a positive outlook towards this subject. The business will be also benefitted by the implementation of ICT as it can also acts as a marketing tool. The company is therefore recommended to implement ICT into their system of operation and capitalize on most of the opportunities provided by ICT. Table of Contents CHAPTER I – INTRODUCTION 5 1.1 Background of the Study 5 1.2 Purpose of the Study 5 1.3 Overview of Henrich International Associates (HIA) 5 1.4 Aims and Objectives 6 1.5 Research Questions 6 CHAPTER II – LITERATURE REVIEW 7 2.1 Defining Key Concepts 7 2.2 ICT in Business to Business Planning 8 2.3 ICT as a Tool to Gain Competitive Advantage 10 2.4 Disadvantages of ICT 11 2.6 ICT in SME and Large Organizations 13 2.7 Perception of Employees about ICT 14 2.8 Impact of ICT on Employees 15 CHAPTER III – RESEARCH DESIGN 16 3.1 Research Philosophy 16 3.1.1 Positivism 16 3.1.2 Interpretivism 17 3.2 Research Approach 17 3.2.1 Deductive Approach 17 3.2.2 Inductive Approach 18 3.3 Research Strategy 18 3.4 Type of Study 20 3.4.1 Qualitative Study 20 3.4.2 Quantitative Study 20 3.5Time horizons 21 3.5.1 Longitudinal Perspective 21 3.5.2 Cross Sectional Perspective 21 3.6 Data Collection and Sampling 21 3.6.1 Questionnaire 21 3.6.2 Focus Group Interview 22 CHAPTER IV 23 4.1Findings and Analysis of the Questionnaire 23 4.2Findings and Analysis of Focus Group Intervie w 25 CHAPTER V – Conclusion and Recommendation 27 5.1 Conclusion 27 5.2 Recommendations 27 REFERENCES 28 APENDIX 32 Appendix I - Questionnaire (For the Employees) 32 Appendix II - Semi Structured Interview (For the Executives) 33 CHAPTER I – INTRODUCTION 1.1 Background of the Study The last few decades have witnessed an ‘insurgency’ in the growth of global economy. However, everyone did not have the opportunity to experience this revolution of growth. Around 65 % of the global population, still lives on $4 per day (Kramer, Jenkins and Katz, 2007). The scenario further worsened with the lack of opportunities to carry out developmental activities. The business community in this context has a major role to play and has the capability to create these opportunities. The information and communication technology (ICT) has been a powerful tool as well as acted as a catalyst to address the interest and needs of low income groups of the developing countries. In the last 20 years, the role of ICT in expanding economic opportunities and providing competitive advantages to a firm has been highly acknowledged by experts from every sector of business (Butcher, 2011). Information and Communication technology (ICT) is technology used for improving the efficiency of the operation of an organization (OECD, 2005). It is often regarded as a technology used for retrieving and processing information. ICT not only plays crucial roles in organizations,