Acquisition To Payment System Documentation: Emporium Trading Company Essay.

Emporium Trading Company purchases products from Asia and then resells them to local retailers. During the last 2 years demand for the imported products has increased significantly. Emporium Trading is expanding its local operations, including a new information system, to assist with managing the increase in purchases. You work as a consultant systems analyst, and you have been tasked with preparing documentation to assist with the identification of the current business processes in order to facilitate the identification of a suitable system for the acquisition and payment for products. Based on the interview below with the department supervisor, prepare a document flowchart using a system tool, to document the acquisition to payment system that currently exists at Emporium Trading Company.

A purchase requisition is sent from the inventory system to the purchasing department clerk. The clerk prepares the PO using the vendor and inventory files and emails the PO to the vendor. The vendor returns a vendor acknowledgement to the clerk indicating receipt of the PO. The purchasing clerk then sends a PO notification to the Accounts Payable clerk.

When the receiving department accepts the vendor goods, the inventory system automatically send the AP clerk a receiving report. The AP clerk also receives invoices from vendors. The vendor invoices are matched to the PO notification and the goods receipt by the AP clerk, who then updates the accounts payable master file. Payment request is then sent by the AP clerk to the accounting department. All files at Emporium Trading are filed in date order.

The accounting department then prepares the EFT file for vendor payment. Once the payment has been approved, the system automatically updates the AP master file and the general ledger, and forwards the payment details to the bank.

A system tool includes software such as Word, Excel, Smartdraw or Edraw. There are many tools that are available to trial for free on the internet.
Using appropriate authoritative sources, create research report that:

• explains the role of data analysis tools and data mining in contemporary organisations.
• identifies and explains the ethical implications around gathering, storing and using customer information.

1.

                                      Table: Payment of operations flowchart of Emporium Trading regarding 

It has been considered that the various operations in an organization need to be aided with data analysis for achieving operational efficiency. Techniques used in this analysis and data software seen to be classified as data in organization which recognizes that trends and industrial patterns to achieve more with the given knowledge.

The application level, business intelligence and the report supported by the management and the corporate employees proved to be conducive in taking actions associated to operations of business, vital performance indicators and many more such services. In the past various types of queries for data and reports were established for the end users. However, the forms are sent to make use of the services so that operational employees and analysts can perform by their role by their own queries, create report and ad hoc decisions. Data mining and data analysis tool take into consideration the classifications which are made through large data set. It is further seen to recognize the relationship and pattern of the behavior(Catchpowle & Smyth, 2016).

The application of data analysis involves more than the evaluation process. Particularly in case of advanced projects, the application take place in the beginning during the time of integration, collection and preparation of data thereby enhancing, revising and examining the various models of data analysis so that they are able to provide the accurate results. In addition to this, that it analytics team and data analysts appoint engineers whose job is to help making the data ready for evaluation. The initiatives of the data analysis are seen with a wide variety of uses for the company. For example, in financial institutions the withdrawal and expenditure trends needs to be analyzed to prevent any event of internal or external theft of identity and fraud. The e-commerce industries and the marketing team are seen to undertake clickstream analysis for recognition of visitors of the website and those individuals who have potential to purchase the products and services (Catchpowle & Smyth, 2016).

The various types of analysis process begins with collection of the data where data developer are known to be familiar with the relevant information needed for definite application during the analysis forces and work separately all along with other co-worker to bring together tools which needs to be used. The information gathered from the various systems of data possibly will need to be mixed up with the backing of data integration routine and changed into a regular design before being downloaded in analytics system. In certain situations, that it analytics process may comprise of sourcing of appropriate subset from a raw pool of data flows into the tool and shifting the same to a different divider within the same system so that they relation of the data can be done without having impact on the entire data set (Pashnina, 2015).

Flowchart

Furthermore, several companies are to make use of the data analytics techniques as a methodology to obtain information for better serving the customers and improving the service. This is identified with the ability to construct different types of multiple data sources to make new anticipations for improvements in reliable quality. This can be done by relevantly looking for variances associated to dependency on a longevity aspect, granularity and dependency on a precise set of data. The amalgamation of huge data analytics tends to generate new requirements to achieve accurate information associated to the consumers and make sure that the reliability of the extrinsic data which are uncontrollable has been properly authenticated with relevant relationship among the data (Elshandidy, 2014). It also needs to be made sure that the various elements of the data has been look forward with synergies, data gaps and establishment of attributions associated to the data which are provided to others. It also involves highlighting incidences of biasness and use of skewed data. Data mining along with data analysis has an important role to play in achieving appropriate information for smooth functioning of business. This is done by prioritizing activities for operations in order to get a better context of the data which are used. The data mining and data analysis helps for gathering of accurate data which are evaluated by the management in order to discover the tools which are used for knowing the right answers and the elements which will control the supervision to undertake decision which will lead to growth our growth of the business. The various types of other roles of the data investigation and data mining are seen to take place with IT of a business. It has been further seen to be useful to compute the capabilities which arise out of the service provided by the IT department. It is necessary to concentrate on the aims and objectives of the business and have proper knowledge of uses of IT services which contribute to the business outcome and offer suitable place for planning and construction of future services. The information technology is relevant for proper functioning of the analytics tools and hence these needs to be upgraded based on the organizational requirements (Zhai & Wang, 2016).

There are several ethical issues which are prime importance for protection, collection and storage of the information in the databases. The organizations are known to gather and store a pool of information with the customer’s information stored in the database. The issues which are considered to be ethical in nature are tested towards ethical accountabilities of employees, customers and towards the organization. The collection and restoration process of the customer information is done as per the service program of customer and expanding the business as a whole (Saganuwan et al., 2013). The variety of ethical duties of the business revolves around the concept of compilation of precise data and refinement of the errors identified in the customer information. The ethical tasks are related to restricting of browsing through the information until the customer’s are seen to sell off the information to the rivals and associated parties. The customers are further seen to have a ethical responsibility for providing relevant data for the organization which they deal with (Belfo & Trigo, 2013). This is seen to be inclusive of providing whole dataset and precise data required to safeguard obligations for not disclosing of our misusing of the data available to the company and accessible of the same. However, a few requirements are legal with respect to the collected information by the firm. The important consideration of the ethical issues comprise of compliance with privacy laws associated to the information collected through customer feedbacks. The ethical responsibilities also covered the process of proper utilization and storing of the information. By means of data collection process from the customers the organizations are seen to apply the concept of knowing of purchasing trends and reason of purchasing of the same within a given timeframe (Dillard & Yuthas, 2013). The information collected from the potential customers has been used for services and goods of the products.

Business Intelligence Research Report

The next ethical concern refers to truthfulness of the information which may often lead to fouling of customer lives. The necessary information which are composed by the organization is required to provide accurate and precise data to undertake proper data and knowledge about the customers for the requirements of the customers (Hu, Li, & Zhang, 2014).

Conclusion

The access of information is customer is seen as another ethical implication so that the various nuances of the information can be accessed by engineers and data analysts. It is seen to be of prime importance to make best use of the information which are not accessible by other employees and who do not have a functioning role with this information (Bou?ková, 2015). That visibility is required to restrict and safeguard the individual information of the consumers and misplacing of the same in wrong hands. In addition to this, the data needs to be stored in such a way that it can be accessed with no trouble and used during when necessarily. It is pivotal significance that the client information is located in a fundamental database and all the earlier information related to the customers are not lost by any chance (Cullinan & Zheng, 2015). The ethical implications are seen with respect to storing, gathering and use of the information which have a significant influence on the customers. Hence the information needs to be secured. The assembly of information is done in an ethical way so that the customers are not affected by collection of information and assure that they are satisfied. Therefore, the organization needs to undertake necessary steps to understand the customer requirements and provide with extensive services thereby increasing the profit and share in the market (Worrell, Wasko, & Johnston, 2013).

Reference list

Belfo, F., & Trigo, A. (2013). Accounting Information Systems: Tradition and Future Directions. Procedia Technology, 9, 536–546. https://doi.org/10.1016/j.protcy.2013.12.060

Bou?ková, M. (2015). Management Accounting and Agency Theory. Procedia Economics and Finance, 25(15), 5–13. https://doi.org/10.1016/S2212-5671(15)00707-8

Catchpowle, L., & Smyth, S. (2016). Accounting and social movements: An exploration of critical accounting praxis. Accounting Forum, 40(3), 220–234. https://doi.org/10.1016/j.accfor.2016.05.001

Cullinan, C. P., & Zheng, X. (2015). Outsourcing accounting information systems: Evidence from closed-end mutual fund families. International Journal of Accounting Information Systems, 17, 65–83. https://doi.org/10.1016/j.accinf.2014.06.004

Dillard, J., & Yuthas, K. (2013). Critical dialogics, agonistic pluralism, and accounting information systems. International Journal of Accounting Information Systems, 14(2), 113–119. https://doi.org/10.1016/j.accinf.2011.07.002

Elshandidy, T. (2014). Value relevance of accounting information: Evidence from an emerging market. Advances in Accounting, 30(1), 176–186. https://doi.org/10.1016/j.adiac.2014.03.007

Hu, J., Li, A. Y., & Zhang, F. (2014). Does accounting conservatism improve the corporate information environment? Journal of International Accounting, Auditing and Taxation, 23(1), 32–43. https://doi.org/10.1016/j.intaccaudtax.2014.02.003

Pashnina, A. O. (2015). Accounting automation efficiency increase by means of introducing automated information accounting systems at manufacturing enterprises. Actual Problems of Economics, 169(7), 438–443.

Saganuwan, M. U., Ismail, W. K. W., & Ahmad, U. N. U. (2013). Technostress: Mediating Accounting Information System Performance. Information Management and Business Review, 5(6), 270–277.

Worrell, J., Wasko, M., & Johnston, A. (2013). Social network analysis in accounting information systems research. International Journal of Accounting Information Systems, 14(2), 127–137. https://doi.org/10.1016/j.accinf.2011.06.002

Zhai, J., & Wang, Y. (2016). Accounting information quality, governance efficiency and capital investment choice. China Journal of Accounting Research, 9(4), 251–266. https://doi.org/10.1016/j.cjar.2016.08.001