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Infomation Systems

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The increased applications of technology in companies demand an integrated use of information systems and software applications. The numerous advantages evident include; improved speed in processing, accuracy, long reduction in cost and up to date results. Different departments use different information systems and softwares to suit their purpose.
Departmental information system is systematically arranged including; people or the users of the system. Their competent in the field and with the system is fundamental, procedures and instructions to be followed in the system. Data is also a component of the system which is related to the company and its processes, application processes which do process the data. Physical devices which include computers which allows the system to operate its functions. The system also comprises the internal control structure and the security measures.
Examples of accounting software application includes; Accounts payable software which allows business to stay on top of their outstanding payments and make sure all their payments are made accurately and on time. Accounts receivable software which allows business to efficiently manage customer activity and ensures timely revenue collection by automating invoice processing. Bank Reconciliation software which simplifies the monthly reconciliation process for businesses. Bill of Materials software which gives businesses the ability to track production costs and accurately compare it to expected costs. And budget Management software which provides businesses with forecasting and planning tools to help make the most informative decision during the budgeting process.
Finance being another department also makes use of information systems and application softwares. Financial information systems tracks financial events and summarize financial information. This is to support management and budget

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