Essay on Swot Enterprise Resource Planning ( Erp ) System

Essay on Swot Enterprise Resource Planning ( Erp ) System

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Wacoal Corporation’s business decision to adopt the Extensible Business Reporting Language – General Ledger (XBRL-GL) system is paramount to the success of the company in conducting its business more efficiently and effectively. XBRL-GL is beneficial because it gives “the advantages of a global, standardized language for business reporting to improve internal-as well as external reporting and enhance decision makings” (Dallavia & Garbellotto, 2015, p. 53). It is already equipped with the Extensible Markup Language (XML), so the company can also “create, exchange, and analyse financial reporting information but not limited to, regulatory filings such as annual and quarterly financial statements, general ledger information and audit schedules”(XBRL Education, 2008, para. 2). Therefore, as technology advances, the next important step is to adopt Enterprise Resource Planning (ERP) system to facilitate the company’s day-to-day business decision makings. Furthermore, the uses of ERP system will enhance the use of XBRL-GL to help decision makers to act quickly on their business decisions as well as being in compliance with the rules and regulations. Due to the budget and time constraints, it may best that the company invest in the ERP system later. This essay will discuss three main reasons why a system upgrades of an ERP system in the future is better rather than now because of the followings: it is expensive, takes time to complete and very complicated to implement.
It is important to recognize that the company made the right decision to adopt XBRL-GL because it is “cheaper, better and faster,” as stated by Cunningham in her 2004 executive report (as cited in Valentinetti & Rea, 2013, p. 6). Due to the affordability and the flexibil...


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...ess needs” (Gefen & Ragowsky, 2005, p.25). This suggests that the company must evaluate its critical business areas which needs an upgrade but can only be done one area at a time. ERP solution software such as Systems, Applications & Products in Data Processing (SAP) can offer such customization. In spite of its ease-to-transfer capabilities, in a current assessment of the use of ERP system in Czech Republic shows that SAP still has one identifiable drawback as it encompasses a wide spectrum of business functions and sophisticated for new users (Jacova & Horak, 2015). Due to the risk and uncertainty which the ERP system implementation can present, a careful analysis of the company’s critical needs is indispensable.
In conclusion, it is recommended that the company focus on continuing its business with the use of XBRL-GL to gain its benefits from the current system.

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