The Software Effect on the Quality of the Financial Activity of the Companies

Ioanas Corina (), Dinescu Emilian () and Tapliga Pusa Tania ()
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Ioanas Corina: Academy of Economic Studies, Bucharest
Dinescu Emilian: “Lucian Blaga” University Sibiu
Tapliga Pusa Tania: Romanian Academy Bucharest

Ovidius University Annals, Economic Sciences Series, 2010, vol. X, issue 1, 672-676

Abstract: Organizations now have the opportunity to fulfill most of their information system requirements through software packages, rather than building bespoke solutions. The advantages of this approach, particularly the perceived cost and time savings, appear self-evident. However, there are disadvantages, which must be carefully understood and evaluated before selecting and purchasing a software package. The organization must also be aware that it is probably entering a long-term commercial relationship with a supplier. It may be costly and difficult to end such a relationship, as converting data from one product to another may be prohibitively expensive. Hence the risks of the software package approach must be identified and appropriate risk avoidance and mitigation actions developed.

Keywords: software packages; time savings; risk; financial activity (search for similar items in EconPapers)
JEL-codes: Q33 (search for similar items in EconPapers)
Date: 2010
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