After a very long and detailed research, I would like to suggest my organization and recommend a revenue tracking software. This software would be the answer to all the accounting and financial related issues that are faced by the company.
This software would save time, would be cost effective, help in effective flow of business transactions and would automatically generate the revenue transactions and would present their reports on monthly basis (WIPO 2001). Moreover, the software would enable the management to take out revenue generate reporting, balance sheets, cash balance tracking and reporting, income statements, cash flow statements, accounts receivable tracking and reporting, accounts payable tracking and reporting, and budget reporting. It would have the ability and capability to work in heterogeneous environments (HP.com).
Every organization goes through advancements with the passage of time and so will our company. What I have analyzed is that ABC Inc. has to go with this gradual change and should adapt a revenue tracking software which could keep track of all the revenue transactions of our company and also which could show how much revenue we have got and how much amount the company has to pay to other parties. In this way, the company would work more efficiently and would become more technology savvy being cost effective. The software would enable to save company’s data, organize transaction data, make backups, generate revenue reports, and would also keep track of all the accounts payable to the customers or trading parties. This software would also help in generating several types of reports which would save the company’s time and help it in faster and rapid growth; hence the company would save energy in developing rather than saving data manually and developing reports every time needed (Urchin.com).
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