Financial Information Systems Essay

INTRODUCTIONFinancing is the important function of every employment organizations, Computer based monetary information systems(FIS) support pecuniary managers in decisions concerning. The financing of business, the eitherocation and control of financial resources.What is finance ?Finance is the art and science of managing gold. Virtually all individuals and organisations earn or rise money and spend or invest money. Finance is concerned with the execute, 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 economic aids the business to deposit or invest excess funds more quickly.for cash flow forecasts.to determine cash collection programs and alternative financin g or investments strategies with forecasted cash deficits or surplus.Online Investment 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 profitability and financial impact of processed capital expenditures.Techniques in capital budgetingPayback Period (PBP)Net present value (NPV)Internal rate of return (IRR)Spreadsheets be severely used for this process incorporates present value analysis of expected cash flows and probability analysis of risk to determine the optimum mix of capital.Financial foretelling &PlanningFinancial forecasts concerning to Economic situationBusiness 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, an d reliability that forward-thinking companies rely on to increase profitability and gain competitive advantage.AdvantagesCompletely Web-Based unproblematic 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 modify you to build and customize your online store. Create an online catalog where customers, salespeople, and partners can easily door yourproducts. Manage everything from taxes to inventory to pricing through a Web-based interface, all synchronized with SAP Business One.3.GreentreeGreentrees main users are medium sized businesses, hardly 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 up to many hundreds of users.FeaturesGreentree is built ar ound 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 birth management, supply chain management, human resource management, project management, and analytics. It integrates with widely-familiar Microsoft products such as Microsoft SQL Server, BizTalk Server, Exchange, Office, and Windows. Employees can lick with tools that theyre alrea dy 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 need 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.