This website uses cookies to ensure you have the best experience. Learn more

Riordan Finance And Accounting Process Improvement Proposal Cis/207

2362 words - 10 pages

Riordan Finance and Accounting Process Improvement Proposal
CIS/207
December 04, 2012


Executive Summary
Riordan Manufacturing, Inc. is composed of three primary facilities in the United States, with locations in Georgia, Michigan, and California. Headquarters is located in San Jose, California. In addition to the core entities, Riordan Manufacturing has a joint business venture located in Hangzou, China. Investigation into the company’s operating procedures and expenses revealed several shortfalls requiring immediate attention. The implementation of a streamlined Enterprise Resource Plan (ERP) and Electronic Database Interchange (EDI) is expected to reduce operational costs by ...view middle of the document...

Riordan’s CIO allocated $150,000 to fund a project that will document the current operating environment, forecast business needs for the next five years, and identify and make recommendations for system integration, acquisition, and consolidation.
The marketing department’s IT system process is in disarray, similar to the finance and accounting department’s processes. A recent process review revealed discordant databases, paper files, and obsolete technologies such as microfiche. The marketing department can benefit directly from the implementation of a Consolidated Reference Model (CRM) through ERP and EDI. Immediate results are anticipated and will accomplish digitalization of obsolete technologies and outdated methods of record keeping. This will enable the company to access and evaluate historical data and predict new trends. In addition, the development of a standardized integrated customer management database system will identify specific and projected needs of customers. This directly affects the objective of the company and lowers costs while increasing revenue.
The human resources information system will also be positively affected by this upgrade. It has not been updated since 1992. Streamlining to a digital process will eliminate the need for outdated hand-written requests. Cost and time for processing internal documents will be dramatically reduced. Record keeping will become reliable and accessible as a result of implementing a digital processing system.

Riordan Finance and Accounting Process Improvement Proposal
Riordan Manufacturing has requested assistance with the evaluation and improvement of existing computer systems to improve specific functions within the company concerning their inventory, manufacturing, and administrative processes as documented in service request SR-rm-001 (University of Phoenix, 2011). Several shortfalls concerning its finance and accounting processes were apparent upon investigation. The three company divisions located within the United States of America, and the overseas business venture located in China, are operating on contrasting versions of accounting software. Further, the accounting software at each location is not compatible with any other location’s current configuration. The lack of compatibility prohibits the corporate office from possessing a real-time snapshot of their current financial situation.
The corporation’s headquarters is successfully operating with a fully integrated Windows-based ERP application that manages manufacturing, distribution, and financial requirements. Additionally, this ERP system has been specifically designed for plastics processors and assembly manufacturers. The Michigan site is operating on specially developed software that has reached the end of its life-cycle, has zero support, and has not had a replacement identified. The Georgia location is operating with a different software application not compatible with either previously...

Other Essays Like Riordan Finance and Accounting Process Improvement Proposal Cis/207

ACCT 504 Accounting and Finance, Managerial Use and Analysis

1275 words - 6 pages ACCT 504 Accounting and Finance, Managerial Use and Analysis Product Description WEEK 1Discussion Question, An Overview of Financial StatementsWEEK 2Discussion Question, Accounting Information System and Accrual Accounting ConceptsWEEK 3Case Study 1, The Complete Accounting Cycle, Parkview LandscapingDiscussion 1, CVP AnalysisDiscussion 2, Merchandising Operations and InventoryWEEK 4Assignment - International Business

ACCT 504 Accounting and Finance, Managerial Use and Analysis

1653 words - 7 pages ACCT 504 Accounting and Finance, Managerial Use and Analysis Product Description WEEK 1Discussion Question, An Overview of Financial StatementsWEEK 2Discussion Question, Accounting Information System and Accrual Accounting ConceptsWEEK 3Case Study 1, The Complete Accounting Cycle, Parkview LandscapingDiscussion 1, CVP AnalysisDiscussion 2, Merchandising Operations and InventoryWEEK 4Assignment - International Business

ACCT 504 Accounting and Finance, Managerial Use and Analysis

1527 words - 7 pages ACCT 504 Accounting and Finance, Managerial Use and Analysis Product Description WEEK 1Discussion Question, An Overview of Financial StatementsWEEK 2Discussion Question, Accounting Information System and Accrual Accounting ConceptsWEEK 3Case Study 1, The Complete Accounting Cycle, Parkview LandscapingDiscussion 1, CVP AnalysisDiscussion 2, Merchandising Operations and InventoryWEEK 4Assignment - International Business

ACCT 504 Accounting and Finance, Managerial Use and Analysis - 5811 words

5811 words - 24 pages ACCT 504 Accounting and Finance, Managerial Use and Analysis Product Description WEEK 1Discussion Question, An Overview of Financial StatementsWEEK 2Discussion Question, Accounting Information System and Accrual Accounting ConceptsWEEK 3Case Study 1, The Complete Accounting Cycle, Parkview LandscapingDiscussion 1, CVP AnalysisDiscussion 2, Merchandising Operations and InventoryWEEK 4Assignment - International Business

Discuss Your Understanding of the Terms 'Accounting' and 'Finance'

1806 words - 8 pages This report will discuss my understanding of the terms ‘accounting’ and ‘finance’. According to Wood and Sangster (2007) the definition of accounting is: ‘Identifying, measuring and communicating economic information to permit informed judgements and decisions by users of the information’ (Wood & Sangster 2008 p.3) McLaney & Atrill (2010) state that: ‘Finance (or financial management), like accounting exists to help decision

Ops/571 Week 6

1666 words - 7 pages systems that integrate more modules that can control accounting and finance, order entry, and inventory control. A few companies that provide a MRP system that Riordan can use are by Oracle, SAP, and i2 Technologies. These companies can tailor the types of applications that Riordan will need and create a MRP system that will provide the applications that Riordan selects. IV. Implementation Plan and Gantt chart of the design process Based on the

Riordan Manufacturing Systems Proposal

2240 words - 9 pages Running head: Riordan Manufacturing Systems Proposal Riordan Manufacturing Systems Proposal University of Phoenix Abstract The following is a synopsis of a firm within the list of the Virtual Organization Portal. The information given describes a business systems proposal for Riordan Manufacturing, Inc. This proposal is given to improve the faltering Finance and Accounting departments system of operations, along with the Human

Riordan Manufacturing

1516 words - 7 pages Each operating entity for Riordan Manufacturing has Finance and Accounting systems. They currently have three entities. The systems transmit information from the corporate headquarters. The basic components of each system are • General Ledger • Accounts Payable • Accounts Receivable • Order entry • Procurement • Sales and Purchasing History • Invoicing and Shipping • Payroll • Financial Reporting • EDI • Bar Code Reading • Executive

Capital Budgeting: Riordan Manufacturing

741 words - 3 pages Riordan Manufacturing to be a solution provider for our customers and not be a part of our customer's challenges will be accomplished (Riordan, 2006). Riordan Manufacturing will have a corporate finance and accounting system for all three operating entities, including our joint venture in the People's Republic of China. The importance of this capital investment to the organization is insurmountable as it aligns the project with the strategic

New System Proposal

1154 words - 5 pages (Executive Decision Support System). Each of these components comes with their share of challenges in the finance and accounting system because of the different states and countries that are involved. This is where the DLCSG system will ease the burden of the finance and administration challenges at the corporate level for Riordan Manufacturing. The marketing department clearly needs assistance in putting past marketing research in the system as

Service Request Sr-Rm-022 Analyze Hr System Paper

2085 words - 9 pages is using software that has reached the end of its projected life cycle and has zero technical support from the manufacturers. Problems like this are numerous within Riordan therefore an upgrade of all sites to a standard baseline consisting of up to date software and hardware is an immediate requirement. The current finance and accounting process puts a gigantic burden on Riordan employees and poses constant challenges. This negatively

Related Papers

New System Proposal Cis/207 Essay

1419 words - 6 pages New System Proposal Team B CIS/207 January 16, 2013 New System Proposal Riordan Manufacturing Company is leader in industry, and the company uses polymer materials to create solutions to customers. Dr. Riordan, a professor of chemistry founded Riordan Plastics Inc. by 1993 the company went to Riordan Plastics Inc. to Riordan Manufacturing Company and expanded the company into China. In 1991 the company supported

Riordan Finance And Accounting Essay

911 words - 4 pages Finance and Accounting Unfortunately, there are many problems with Riordan Manufacturing’s accounting system as well as their financial handling methods. The company has started on the right foot by having company wide systems put in place at each location. These systems include a general ledger, accounts payable, accounts receivable, order entry, procurement, sales and purchasing history, invoicing and shipping, payroll, financial

Accounting And Finance Essay

1729 words - 7 pages Module: Accounting and Finance Coursework Assignment 2014-2015 Company: Sports Direct PLC Contents 1.1 Background of Sports Direct 1.2 Comparison of Sports Direct to the Industry 1.3 Comparison of Sport Direct to the Market 1.4 Sports Direct News October 1.1 Background of Sports Direct Sports Direct was founded in 1982 by owner Mick Ashley in Maidenhead, England. The company went in to the London

Msc In Accounting And Finance Essay

2901 words - 12 pages BA7032 Final Research Proposal – Feedback front sheet Attach this form to your Research Proposal, which should be stapled with a single staple. Do not put it in a plastic sleeve or folder. TO BE COMPLETED BY THE STUDENT | Student ID:K1359443 | Student’s name:Romil Tulshan | Degree:MSc in Accounting and Finance | Supervisor’s name:Dr Jia Miao | Working title of proposed study:Qualitative and Quantitative investigation of property prices in