This is no doubt an era of global competition, and if any firm wants to have a grip on the current economic impetus, then their key to survival is a continuous improvement of its performances. Technology is coming up fast, and companies have to keep up with the new and advanced systems so as to have a chance. Established and successful organizations of today are like so because of the glaring fact that they were able to morph their systems into a new, up-to-date technological balance. The accounting section is usually the heartbeat of a firm and so cautious management of this important department would determine a company’s future. Every organization has what is called Accounting Information System, and the recent developments in Information Technology have ensured that those accounting systems that were previously managed manually are now accomplished through computers which mean good management like in the case of FedEx (Wisna, 2013).
Accounting information systems are organized ways of gathering, feeding, and processing of data, storing and managing of said data and in turn giving feedback/output so that an organization can know how to place itself to achieve certain set objectives. Which means that these information systems are designed to realize more organization objectives like in the case of collecting data about workers to aid administrators to prepare payroll reports. It is important to say that the quality of this system is as a result of Information Technology, the culture that the organization is built upon and a visionary business strategy. An accounts information system would only be sophisticated if it benefits from the influence of these factors.
Delegate your assignment to our experts and they will do the rest.
Being a collection of both physical and non-physical sub-systems, a quality information system would command the integration of Human resources, data, software and a well-managed communication media. This type of information system is reliable and useful to the extent that is required by the user. It also has a kind of flexibility and timeliness to it which means that the end user, in this case, the internal and external personnel have a kind of satisfaction with the services provided. This satisfaction is graded in terms of accounting information and other output data that involve the organization. The management has the liberty of making sound decisions that are of value to a certain area of the organization basing on the information provided (Wisna, 2013). A good system helps a company like FedEx to keep up with new trends that would see them continue being competitive in the market.
FedEx is a world beater because of the ability (through their services) to meet and at most times exceed the expectations of their customers. Their delivery systems have been improved, and their operations at large give them the edge over competitors. The quality accounting information and output they get from their system have helped them to perform to expectations. This information can be said to have also improved their managerial system since they have been able to accurately circumvent and adjust to economic changes both within and outside the company. The company has been able to use the feedback it gets from its information system to make even greater strides in the competitive fast growing world. They have morphed themselves through the economic quagmire to make it through to where they are today.
FedEx is a known company world over, and this is because of their services to customers. This great association is because of the effectiveness of their information system. When trying to flow with the trend, companies like FedEx employ new tactics and changes to their accounts information systems to see that they achieve the required accounting information that would enable their quest to reach set goals (Fu, 2014). FedEx, for example, adopted an online system that would ease communication with customers and know exactly how to effectively change their delivery system. In order to achieve this, the management had to include the idea in the companies information system, try it out and be able to determine whether it can be adopted, which it was. It is entirely impossible to use the same system used a decade ago to achieve desired results of new adventures today. This is because new ideas need advanced technology which means that companies like FedEx have to change the designs of their information systems in the forms of software and hardware, advanced networks and new data. All these are vital in designing a new system in order to get required results.
New programming of software to incorporate new data is a thing that should be adopted by many other companies aspiring to be big. FedEx is a multi-national commercial enterprise and to effect its reach; it has to do so according to that very scale. The new desired outputs that are determined by the industrial features, strategic development ideas and demand should be included in the process of designing their accounting information system. By doing it this way, companies like FedEx can use their new form of accounting systems to aim at the target and also improve its effectiveness in achieving the best results (Fu, 2014).
Having been exposed to the different information about accounting information systems, it is easy to point out that a stable, quality information system that is up and fast with the current technology is the leeway to the growth of a company. We have also come to the realization that this system works handy with other related components to make sure of the quality. Also, the information system is affected by the kind of required outputs that in the end determine its new design. That to be on the same level with the best, companies like FedEx use their best administrators in terms of systems and content alongside their best programmers to beef their information system with the best.
Fu, M. (2014). Design of Accounting Information System of Modern Enterprises under Informatization Environment.
Wisna, N. (2013). The Effect of Information Technology on the Quality of Accounting Information system and Its impact on the Quality of Accounting Information. Research Journal Of Finance And Accounting , 4 (15), 69-75. Retrieved from http://www.iiste.org