Knowledge Audits for Business Analysis and Activities

Question: Discuss about the Knowledge Audits for Business Analysis and Activities. Answer: Introduction: Creative solutions mainly conduct all its activities with little use of information technology, which is mainly hindering effective control of their merchandise. In addition, the ordering process is also conducted without the help of information technology, which is mainly hampering their operational capability. Moreover, stock evaluation is done manually, which might hinder overall stock count. The non-usage of adequate information technology is mainly hindering operational capability of the company to improve its overall profitability. Business case, stakeholder analysis, business context and business processes are conducted in the assignment to understand operations of Creative solutions. Business case: The main business problem is relatively detected as low management conducted by Creative solution in their daily operations. In addition, the non-usage of the information technology for smoothing and reducing work time is not been conducted by the company effectively. Moreover, an addition of new technology could be helpful in improving the overall operational capability of the company, which was previously not been so effective. Arendsen et al. (2014) mentioned that with the help of information technology message could be circulated among designated employees, which could be helpful in improving their supply chain. Moreover, relative opportunity of using new technology in the business process could be seen for Creative Solutions. In addition, using the Information and Communication Strategy (ICT), Creative Solution could effectively monitor the progress of relevant operations conducted by its workforce. Wen et al. (2014) mentioned that ICT software mainly allows companies to reduce the overall miscommunication and improve efficiency of the workforce. In addition, the role of business solutions applying ICT are depicted as follows. Reduction in counting time: ICT software mainly helps in reducing the counting time of stock, which are been conducted by employee of Creative Solutions. In addition, the overall reduction in counting time of stock is essential in improving efficiency of the workforce. Soja and Cunha (2015) mentioned that adoption of latest technology is essential in improving supply chain of the company. Speedy flow of information: ICT system is effective software system, which is used by companies to improve viability of their current operations. In addition, the software also allows the company to transfer information to the required authority with the help of integrated servers. Leonardi et al. (2016) stated that using latest technology allows companies to accommodate use of tablets in their premises to deliver relive information. Safety in storing information: With the help of ICT software Creative Solutions is able to increase safety of the information, which are been kept by the company. In addition, the risk of viability and safety of the information, which is been produced by employee could be effectively increased with the help of ICT software. Nakajima et al. (2013) mentioned that ICT software protects data from any infiltration, which might be conducted from hackers. Improving supply chain system: In addition, the ICT software also allows companies to improve the overall supply chain, which records all the stocks details. This information is mainly essential in ordering new merchandise on adequate moment to replenish the stock and reduce excess storage costs. The improvement in supply chain system mainly reduces costs and help in boosting inventory turnover system of the company (De, Fornasier and Nonino 2015). Identifying the stakeholders: The overall stakeholders that will be responsible for the ICT software data collection is the employees and managers. With the help of identified stakeholders, the software is able to gather the required data, which could be utilised by all divisions of the business. Sari and Purwanegara (2016) mentioned that data input is the most crucial part of accounting software without which viability of the system is not detected. The two stakeholders, who are responsible for the documentation and data collection, are mentioned below. Managers: The data documented by employees needs to be evaluated by the managers, which is essential in reducing documentation mistakes. In addition, managers are mainly responsible to input details about new purchase list, which is needed to replenish the stocks. Employees: All the data from purchase details to sales and inventory details are to be documented by the employees and inputted in the software. This could only help in minimising the mistakes, which could be uploaded to the software. In addition, documents such sales receipt, purchase receipt and inventory count could be documented in the software. Describing the business context: The mainly problem is the limited use of information technology in replenishing the stocks, which are used by Creative solution. In addition, the record keeping system of the company is not effective, which is mainly hampering it productivity and increasing operating time. Thus, incorporation of an accounting software like MYOB, SAASU or RECKON could be utilised by Creative Solution for fulfilling the needs of information system. Moghadam et al. (2013) mentioned that accounting software allows companies to improve their overall accounting process and project relevant data to required individuals. On the other hand, Abbasi (2014) criticises that accounting software is only beneficial if the data inputted is accurate and viable. Identifying and documenting the business process: MYOB software could be used by Creative solution for improving the overall accounting system, which could be used in raising workforce quality. In addition, MYOB software could be used for recording sales and purchase receipt, which in turn might detect stocks availability in the inventory. Moreover, the software effectively records all the transactions, which is been conducted by the company. Ismail and King (2014) mentioned that MYOB software mainly reduces the overall mistakes as it has a facility to record receipts in PDF format, which could be reviewed during audit. Conclusion: The overall assignment mainly depicts the problems, which is be faced by Creative solution in their accounting system. In addition, the company does not adopt any kind information technology, which is reducing effectiveness of their operations. In addition, the company is not able to replenish its stocks, as the flow of information is comparatively slow. Moreover, adequate accounting software is suggested, which could help in improving the information flow of the company. Furthermore, the use of MYOB accounting system could effectively help the company in reducing the problems, which is been faced in its operations. Reference: Abbasi, H., 2014. Role of Management Accounting Information System in Organizations.Journal of Business and Technovation,2(1), pp.96-102. Arendsen, R., Peters, O., ter Hedde, M. and van Dijk, J., 2014. Does e-government reduce the administrative burden of businesses? An assessment of business-to-government systems usage in the Netherlands.Government information quarterly,31(1), pp.160-169. De Toni, A.F., Fornasier, A. and Nonino, F., 2015. The impact of implementation process on the perception of enterprise resource planning success.Business Process Management Journal,21(2), pp.332-352. Ismail, N.A. and King, M., 2014. Factors influencing the alignment of accounting information systems in small and medium sized Malaysian manufacturing firms.Journal of Information Systems and Small Business,1(1-2), pp.1-20. Leonardi, P.M., Bailey, D.E., Diniz, E.H., Sholler, D. and Nardi, B., 2016. Multiplex Appropriation in Complex Systems Implementation: The Case of Brazils Correspondent Banking System.Mis Quarterly,40(2), pp.461-473. Moghadam, H.M., Akhavansaffar, M., Bakhshaei, Z. and MirHosseini, S.Y., 2013. Effect of investment in information technology system on providing desired services of accounting information system.Elixir International Journal A,55, pp.13268-13273. Nakajima, Y., Masutani, H., Shen, W., Tanaka, H., Kamatani, O., Shimano, K., Fukui, M. and Kawamura, R., 2013, April. Design and implementation of virtualized ICT resource management system for carrier network services toward cloud computing era. InITU Kaleidoscope: Building Sustainable Communities (K-2013), 2013 Proceedings of(pp. 1-8). IEEE. Sari, N.Z.M., SE, M. and Purwanegara, H.D., 2016. The Effect of Quality Accounting Information System in Indonesian Government (BUMD at Bandung Area).decision-making,7(2). Soja, P. and Cunha, P.R.D., 2015. ICT in transition economies: narrowing the research gap to developed countries.Information Technology for Development,21(3), pp.323-329. Wen, J., Liu, W.E., Arons, P.L. and Pandey, S.K., 2014. Evolution Pathway Towards Wide Area Monitoring and ProtectionA Real-World Implementation of Centralized RAS System.IEEE Transactions on Smart Grid,5(3), pp.1506-1513.