Impact Of Information Technology On Management Accounting
The Impact of Information Technology on Management Accounting
Management Accounting & Enterprise Resource Planning Systems
TABLE OF CONTENTS
INTRODUCTION: 4
METHODOLOGY: 5
LITERATURE REVIEW: 6
CONCLUSION 7
REFERENCES: 8
Introduction:
It is quite well known by the corporate world, that Information technology deserves to be viewed much more than just business process automation. IT can essentially change the way businesses are run and thus many organizations around the world today are seeking to improve their competiveness by implementing more advance technology such as Enterprise Resource Planning(ERP) systems.
It is the integrated management of core business processes arbitrated by software and technology.
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These ERP systems bring with them great complexity, cost and can have a significantly high impact on businesses.
An effective and efficient software system that can assists managers in standardizing procedures, eliminating redundancy of data and integration of information is one way an organization can achieve a competitive advantage. Thus, these need to be carefully managed in order to maximize the benefits of a successful implementation. Often, an unsuccessful implementation can prove to be a great hindrance to an organization; for example, Dell implemented an ERP system costing them millions of dollars that was later discovered to be too rigid for the growing and expanding nature of the company and hence was scrapped.
This report is an analysis of the impacts of implementing ERP systems on Management Accounting and also focuses on the effects of a successful vs. non-successful implementation of the same. It will provide insights into the changes resulting from the application of ERP systems on the work of Management Accountants.
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Further to this, all management accountants asserted a dramatic change in the type of tasks they performed. They were now able to focus on more important tasks such as business decision making thus enabling them to work more closely than ever before with top management instead of performing the regular monotonous reporting tasks that were now handled by the ERP
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