Financial Information Systems Essay Example for Free

Financial Information Systems EssayINTRODUCTIONFinancing is the important function of every course organizations, Computer base financial information systems(FIS) substitute financial managers in decisions concerning. The financing of bank line, the every(prenominal)ocation and control of financial resourcefulnesss.What is finance ?Finance is the art and science of managing money. Virtually all individuals and organisations earn or rise money and spend or invest money. Finance is concerned with the process, institutions, markets and instruments involved in the transfer of money among and between individuals, business and governments. Major FIS Categories IncludeCash investing managementCapital budgetingFinancial forecastingFinancial planningCash ManagementCollect information on all cash receipts and disbursements with in a company on a real time or periodic basis. This helps the business to deposit or invest excess funds more quickly.for cash flow forecasts.to rule cash collection programs and alternative financing or investments strategies with forecasted cash deficits or surplus.Online coronation ManagementHelps to financial managementThe process of buying, selling, or holding each type of security so that an optimum mix of securities is developed that minimizes risk and maximizes investment income for the business.Capital BudgetingProcess of evaluating the favorableness and financial impact of processed capital expenditures.Techniques in capital budgetingPayback Period (PBP)Net present value (NPV) inherent rate of return (IRR)Spreadsheets are heavily used for this process incorpo order present value analysis of expected cash flows and probability analysis of risk to determine the optimum mix of capital.Financial Forecasting PlanningFinancial forecasts concerning to Economic situation line of credit operationsType of financing availableInterest ratesStock and bond pricesSoftwares used in FIS1.Sage Accpac ERPSage Accpac ERP offers the freedom of choice, seamless integration, high performance, and reliability that forward-thinking companies rely on to increase profitability and gain competitive advantage.AdvantagesCompletely Web-BasedEasy To Use and CustomizeTotal Investment ProtectionDesigned for Global BusinessHundreds of Industry-Specific Solutions2.SAPThe e-commerce functionality in the SAP Business One application will help you bring your business to the public with a set of Web design tools that enable you to build and customize your online store. do an online catalog where customers, salespeople, and partners can easily access yourproducts. Manage everything from taxes to inventory to pricing through a Web-based interface, all synchronized with SAP Business One.3.GreentreeGreentrees important users are medium sized businesses, but it is also successfully used by many larger organizations. The Green tree product is seamlessly scalable to support the whole spectrum of businesses from a small team to many hundreds of users.FeaturesGreentree is built around a core financial system, with seamless integration across distribution, job costing, manufacturing etc. The modular design will enable to implement a basic financial solution and add modules as the business grows or grows in complexity, or install a complete business management package from the outset.Greentree delivers both Windows-based and Linux-based software4.Microsoft Dynamics AXDesigned for mid-size and larger companies,It is a multi language, multicurrency enterprise resource planning (ERP) solution. Its core strengths are in manufacturing and e-business, andit includes strong functionality for the wholesale and services industries. includes applications for financial management, customer relationship management, supply chain management, human resource management, bedevil management, and analytics. It integrates with widely-familiar Microsoft products such as Microsoft SQL Server, BizTalk Server, Exchange, Office, and Windows. Empl oyees can work with tools that theyre already familiar.Financial ManagementMicrosoft Dynamics AX delivers a range of financial capabilities for companies to consolidate accounts with subsidiaries or distribution centres, no matter where they are located.5.SAP Business OneSAP Business One provides you with instant access to your critical business information when you involve it to run your business. This comprehensive application covers all your core operations, giving you keen insight, so youcan confidently make informed business decisions.FeaturesAll aspects of business become more agile, including administration, customer relationship management, operations, distributions, and financials. Helps in Accounting and Financials, Budgeting, Banking, Financial Reporting, Customer Relationship Management (CRM), Business partner management.