Kudler Fine Foods Accounting System

Kudler Fine Foods Accounting System

Turban & Volonino (2011) state, "Accounting provides quantitive information about economic entities that is intended to be useful in making economic decisions." Some of the most successful businesses, including Microsoft, Apple, Harpo, and Wal-Mart began with limited resources; however, through wise economic decisions, these organizations have not only succeeded but prospered. Management at Kudler Fine Foods could see similar results by using proper accounting processes. To do so, it is recommended that Kudler Fine Foods implements a new accounting system throughout the organization. The suggested system will be further described here, including: key features, core technology required, benefits of the new system, and anticipated costs related to the system (Turban & Volonino, 2011).

Key Features

Kudler Fine Foods currently requires multiple departments and systems in order to function properly; therefore, the first key element for the new accounting system is integrating the system will all other systems currently in use. Integration is essential to achieving the desired results when implementing the accounting system. Other key features include auditing software, budgeting software, account and finance software, Enterprise Resource Planning, Supply Chain Management, Collaborative Planning, Forecasting and Replenishment, Customer Relationship Management, and Knowledge Management. Furthermore, industry specific software would be included to tie in expenditures. This system would track fraud, improve accounting accuracy, improve process speed, and provide constant data feeds (Corby, 2010).

Core Technology

The Enterprise Resource Planning system is a software that will effectively link all enterprise systems together to aid in internal decisions and external processes. The Supply Chain Management system will efficiently manage all aspects of the steps of the supply chain including: transportation, manufacturing, inventory, and scheduling. The Collaborative Planning, Forecasting and Replenishment System will successfully predict product needs, forecast supply demands, and coordinate with suppliers to replenish inventory. Customer Relationship Management software will logically group customers based on purchases to improve potential sales. Finally, Knowledge Management software will fully maximize the sharing of information across all systems within Kudler Fine Foods. Additional auditing and finance control software will monitor cash flow to reduce the risks of fraud, theft, and general system misuse (Corby, 2010).

Benefits

Integrating the proposed accounting system will offer numerous benefits to Kudler Fine Foods. First, Kudler will see drastic improvement in the management of cash flow, assets, liabilities, and