Week 1 Task 2

Choose any specific IS products sold on the market or developed in-house. Then describe its value for the company and describe what parts/processes constitute main systems components as they are shown on fig. 1.3 (p.8).

I am an accountant. We use the computer for everything and tend to be somewhat tech savvy. I, however, am not. I can navigate the basics like Word, Excel, and Outlook and perform routine searches on the internet but anything more involved, I really need some guidance on. In my job as an accountant, we use a program called Solomon. Solomon is an accounting software package that contains our accounts payables, accounts receivables, and our general ledger. Solomon would be considered an enterprise system since it performs and integrates tasks such as paying our vendors, sends invoices to our hotels and tracks all transactions in the general ledger. The input, in information systems, is the process of gathering and capturing new data. The input in the case of Solomon, would be the invoices obtained and approved for payment, the billing collected to be entered in accounts receivable, and any journal entries needed to be made for accruals and such. The output involves producing useful information. With regards to Solomon, the outputs would be the checks to pay the vendors, the printed invoices to send to the hotels and the detail general ledger reports created from the general ledger such as the balance sheet and the P&L.

The value that this program/software has in my organization is the ease of running the reports needed by management to make budget and forecast decisions. There is no longer a need for these large ledger books like in the old days of accounting and creating reports by hand and do hand calculations which can leave a lot of room for error. If a department manager wants to see their revenue or expenses for the month it is extremely simple to create and run a report.