Sample Term Paper
Term Paper: It can be said that the business objectives, wants and challenges of any mid-sized business organisations are remarkably similar despite the difference in the languages, culture and industry. Each day, these organisation make efforts to gain a strong financial foundation, increase in their customer satisfaction as well as positive business growth. Regardless of the fact if a business organisation has local market as its focus or participate in business across borders, the core components of mid-sized business success are universal. Decisions regarding the cash flow as well as access to resources and their utilization are key in determining the future of mid-size business. And when these decisions are combined with the global economic and environmental challenges, the choice of the business data, information as well as process infrastructure becomes important.
Typically, when a business is formed, it starts out by having a simplistic process and financial systems, and makes use of a combination of paper and electronic documents. As the business experiences growth, it typically adopts some off-the-shelf software to automate their accounting, payroll as well as asset management. However, if the business experience further tremendous growth, it quickly surpasses the capabilities of these software and finds itself with a complex mixture of data and process which are managed with file cabinets filled with paper documents, spreadsheet and central but disconnected general ledger solution. E-mail is the only communication tool which is used to connect disparate systems by passing around spreadsheets, order, enquiries as well as reports.
When a business realizes that this system of disconnected infrastructure is stopping is growth and causing the cost to spiral uncontrollably, it considers implementing and ERP system. The shift to an ERP system for a mid-sized company is often the ingredient needs to fasten growth and improve profits. The key to making this shift requires careful consideration in the selection of ERP. There are numerous ERP systems available in the market today, many of them with enticing features; however, the selection of an ERP is critical as the wrong choice can potentially sink the organisation. Typically, a list of factors are considered, some of which are discussed below (Hensarling 2009).
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