Effective and efficient financial calculations play a very important role at quarter-end. At each quarter-end, there are strict time restrictions involved in preparing the Axis dataset model to run, outputting calendar year reports, reconciling and analyzing the results. The financial calculation software, Axis, plays a very crucial part in this process. It is vital that the calculations from Axis are accurate and produced in a timely manner. It is also important to keep up-to-date with all the new versions of Axis. Recently, the newest version, Axis 10, had been introduced with many new enhancements. These new features will be the key in efficient time management at quarter-end. Improvements to the software result in an initiative to convert all products from Axis 9.4 to Axis 10. This report will give a brief description of the Axis program, outlining the conversion process, and evaluate various problems faced. In conclusion, it will compare the advantages and disadvantages concerning the transition of the two version of Axis.
Axis in General
Axis is a software produced by GGY that can be used by all levels of people in an organization. It provides technical, actuarial and financial information. The software is also able to display results from a financial statement point of view. This allows the user to see how decisions can affect both the income statement and balance sheet. The versatility of the software allows user the opportunity to produce accurate financial calculation and make informed decisions. Recently, GGY had introduced a new version of Axis. This new version, Axis 10 has two main enhancements: Distributed Processing, Integration of Datalink and Object Explorer.
Conversion Process
Following is a user guide to a successful conversion from Axis 9.4 to Axis 10. It is very important to make sure that the datasets and databases are both converted into Axis 9.4 Maintained before getting started on the conversion into Axis 10.
To convert a dataset into Axis 9.4 Maintained:
1. Open up Axis 9.4 Maintained.
2. Click on Dataset Action button.
3. Scroll down and select the option Restore Dataset…
4. Browsed through the directory to where the dataset (version 9.4) was saved in the Open pop-up window.
5. Double click on the dataset name, and select Yes when asked ‘Would you like to convert it?’
6. Return to the Dataset window and back up that dataset to a folder on the LAN once it is converted into 9.4 Maintained.
To convert a database into Datalink Maintained version:
1. Open up Datalink Maintained version.
2. Click on File button.
3. Scroll down and select the option Backup/Restore Database.
4. Browsed through the directory to where the database (version 9.4) was located in the Backup/Restore Database pop-up window.
5. Click on Restore New.
6. Click on Database Button and double click on the database that had just been restored.
7. This will convert the database into 9.4 Maintained.
8. Go back to File Х Backup/Restore Database and back up the database to C:DATALINK 94MAIN
Note: It is very important that the database is backed up in this particular directory or it cannot be converted into Axis 10.
Once the conversion process into 9.4 Maintained is complete, the next step is to reconcile the results. To reconcile, the batch that was run at quarter-end should be rerun in 9.4M and viewed using the report. This is necessary to confirm that the result from both versions does not differ.
To convert a dataset into Axis 10:
1. Open up Axis 10
2. Click on Dataset Actions
3. Scroll down and select Restore Axis 9 Dataset and Convert…
4. Browsed through the directory to where the dataset (version 9.4 Maintained) was saved in the Open pop-up window.
5. Select a temporary directory to restore the dataset (usually in the C: drive) in the next pop-up window.
6. In the Convert AXIS 9 Database Wizard – Step 1, select the right module and click on the ellipsis (…), scroll down and select the database that you have backed up earlier.
7. Under the Option section, select If dataset had seriatim data convert it to a new format.
8. Under Datalink tables data, select the option Convert only if user def table has no source file.
9. Click on Finish.
10. Double click on the dataset name to continue the conversion process.
Once the conversion process is finished, follow the reconciliation step from above and rerun the quarter-end Datalink and calendar year recalculation batch. Record the results in the same Excel spreadsheet and make sure the numbers reconciled.
Conversion Problems
The transition process was faced with many impediments and problems. The majority of the problems occurred in Datalink. These errors arise from the automatic conversion of certain alpha fields into numeric fields in Axis 10. When this occurs, the ALLTRIM formula that has alpha input fields become invalid. This problem was resolved by taking out the ALLTRIM formula.
Conclusion
The previously used version of Axis 9.4 is can be inefficient at times. This inefficiency is due largely to the amount of time needed to run a batch job. Potentially, Axis 10 have the capacity to help eliminate this problem by introducing the new feature, distributed processing. Also, the newly integrated application allows for quicker training, as there is only one application to learn.
The advantages of the Axis 10 are clearly the better usage of time and resources by staff at quarter-end. The drawback to the new version is mainly due to the large amount of time spent on conversion.
Even with the initial drawbacks associated with the Axis 10 conversion, the impact that the software has on the issues concerning time restriction and clarity of integrated application is positive overall. When the staff is fully trained to use the new version to its full potential and the all the problems from conversion has been resolved, Axis 10 will substantially increase the time efficiency of the quarter-end process.
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Showing posts with label internet. Show all posts
Showing posts with label internet. Show all posts
Thursday, February 12, 2009
Saturday, January 24, 2009
Impact of Internet on International Marketing Practices
This paper will discuss the impact of Internet on the international marketing spectrum. One way to analyse this issue is through identifying the pros and cons of using internet as a marketing tool, and finally its implication for international marketers, professionals and academics.
Information technology has been the cataclysm for the development of international businesses. One area, which has been given increased attention, is the explosion of international marketing activity on the Internet. According to the international data statistics of 2003, they predict that there will be approximately one billion of active users in the world by 2005, which means more electronic commerce (www.cyberatlas.internet.com). These figures demonstrate the attention of international marketing stakeholders.
The usage of Internet as a medium international marketing brings along many benefits to international marketers. Some major advantages are mentioned below:
Firstly, the net acts as a gateway to global opportunities. It allows companies, specially small and medium enterprises to position themselves globally at low cost. In addition, it alleviates the red tape regarding the prospect of doing business globally, consequently avoiding the regulations and restrictions in export countries, which normally companies should abide by if they physically enter the market ( Paul, 1996). Furthermore, low cost can also be associated with the elimination of intermediaries because Internet connects end-users to producers directly. Moreover, the global advertising costs which was considered as a barrier to entry, is now reduced as internet permits to attain the target audience cheaply ( Eid & Trueman, 2002).
Secondly, it provides accessibility. Companies which use internet for their international operations are able to increase their hours of business through email and customer ordering and interactive communication (Eid & Trueman, 2002). Although the different time zones which exist, they have increased their opportunities by providing 24 hours access for their branch offices and consequently this results in an increase in the number and potential international customers (Paul, 1996). In addition, the one to one interaction allows marketers to build strong and sustainable relationships with their customers, which as result enhance the brand loyalty (Arnott & Bridgewater, 2002).
Thirdly, the net contribute to an appropriate form, place and time utility which create a competitive advantage to the marketeer . Instead of exasperating the customers with the different types of marketing approaches, the choice is given to the customers to decide when, where and what they want. All the company’s products are provided on the net which increase the chances of trial, purchase and repurchase (Paul, 1996).
Fourthly, the net enhances advertising effectiveness. Through Internet advertising media, it is possible to achieve all advertising purposes across all possible market segments. All concerned parties can create, transmit and access advertisements on the net through a computer and appropriate software ( Paul, 1996). However, the effectiveness of the advertisement will depend on a well design and effective marketing of the site (Hamill, 1997). Moreover, Poon and Jevons(Eid & Trueman, 2002:57) argued that hard selling and push promotion strategies are not effective on the internet.
Lastly, the net improves market intelligence, market research and analysis. Studies show that the success to enter new market is systematically to gather, analyse accurate and timely information. The Internet provides up to date information on customer contact, potential market opportunities, technical reference materials which help managers to identify shifts in product and customer trends (Hamill, 1997). Ultimately, it enables managers to capture the right product and market opportunities, from which they can mold an appropriate marketing mix relative the customers’ needs (Paul, 1996).
As there are benefits of using Internet for international marketing purposes, so there are some disadvantages as well. The following shows two main constraints that affect international marketing.
One important issue concerning Internet marketing is security. As millions of people access the net everyday, Copyrights and proprietary information can be target of computer hackers and viruses. Moreover, there is also the risk that they can access the internal computer system and find out classified information (Paul, 1996). Another security issue is the financial transactions that occur over the network. By using unencrypted package, computer hackers can view the credit card number of the purchaser and cause terrible financial damages. Nevertheless, statistics show that the Internet crime rate is on the decreasing rate due to an increase in security features (Palumbo & Herbig, 1998).
One another major limit for the use of Internet as tools for international business is the structural constraints. In order to make proper use of Internet as tool for export, it is dependent on the absence of structural constraints. These constraints can take the form of computer literacy, culture, language; ownership of Pc’s which affect the efficacy of internet –based international business strategies. For instance, all the parties involved in this particular type of transaction should be computer literate and have access to equipments. Secondly, the Internet network should be easy and affordable to access. Thirdly, regulations that impede access to Internet should be removed. For example, in china, only those who register to the public security Bureau and employees of foreign companies can have accessed to internet ( Samjee, 1998).
The above discussion on the pros and cons of Internet on international marketing affect profoundly the major international marketing stakeholders in three aspects. Firstly, international marketers should consider Internet as cost-effective tool for export and if it use appropriately can be a competitive advantage for the company. Secondly, the internet-based businesses bring up some important issues to international marketing educators. The traditional teaching of fundamental international marketing like barriers to internalization, importance of intermediaries, country screening is no longer valid. The internet requires a different radical strategic approach to this new cyberspace environment (Hamill, 1997). Lastly, international marketing educators need to ensure that their students are familiar and understand the strategic implication of Internet in order to prepare them in this new cyber world characterized by international electronic commerce.
Hence, if a business is considering internationalizing, it should consider Internet as an option. Even than there are some risks associated with its use, the benefits may outweigh its disadvantages if it is use appropriately.
You can order a high-quality custom essay, term paper, research paper, thesis, dissertation, speech, book report or book review from our professional custom writing service. We have employed more than 500 highly qualified Ph.D. and Master's academic writers to provide students with professional academic writing help. Feel free to contact our company right now!
Information technology has been the cataclysm for the development of international businesses. One area, which has been given increased attention, is the explosion of international marketing activity on the Internet. According to the international data statistics of 2003, they predict that there will be approximately one billion of active users in the world by 2005, which means more electronic commerce (www.cyberatlas.internet.com). These figures demonstrate the attention of international marketing stakeholders.
The usage of Internet as a medium international marketing brings along many benefits to international marketers. Some major advantages are mentioned below:
Firstly, the net acts as a gateway to global opportunities. It allows companies, specially small and medium enterprises to position themselves globally at low cost. In addition, it alleviates the red tape regarding the prospect of doing business globally, consequently avoiding the regulations and restrictions in export countries, which normally companies should abide by if they physically enter the market ( Paul, 1996). Furthermore, low cost can also be associated with the elimination of intermediaries because Internet connects end-users to producers directly. Moreover, the global advertising costs which was considered as a barrier to entry, is now reduced as internet permits to attain the target audience cheaply ( Eid & Trueman, 2002).
Secondly, it provides accessibility. Companies which use internet for their international operations are able to increase their hours of business through email and customer ordering and interactive communication (Eid & Trueman, 2002). Although the different time zones which exist, they have increased their opportunities by providing 24 hours access for their branch offices and consequently this results in an increase in the number and potential international customers (Paul, 1996). In addition, the one to one interaction allows marketers to build strong and sustainable relationships with their customers, which as result enhance the brand loyalty (Arnott & Bridgewater, 2002).
Thirdly, the net contribute to an appropriate form, place and time utility which create a competitive advantage to the marketeer . Instead of exasperating the customers with the different types of marketing approaches, the choice is given to the customers to decide when, where and what they want. All the company’s products are provided on the net which increase the chances of trial, purchase and repurchase (Paul, 1996).
Fourthly, the net enhances advertising effectiveness. Through Internet advertising media, it is possible to achieve all advertising purposes across all possible market segments. All concerned parties can create, transmit and access advertisements on the net through a computer and appropriate software ( Paul, 1996). However, the effectiveness of the advertisement will depend on a well design and effective marketing of the site (Hamill, 1997). Moreover, Poon and Jevons(Eid & Trueman, 2002:57) argued that hard selling and push promotion strategies are not effective on the internet.
Lastly, the net improves market intelligence, market research and analysis. Studies show that the success to enter new market is systematically to gather, analyse accurate and timely information. The Internet provides up to date information on customer contact, potential market opportunities, technical reference materials which help managers to identify shifts in product and customer trends (Hamill, 1997). Ultimately, it enables managers to capture the right product and market opportunities, from which they can mold an appropriate marketing mix relative the customers’ needs (Paul, 1996).
As there are benefits of using Internet for international marketing purposes, so there are some disadvantages as well. The following shows two main constraints that affect international marketing.
One important issue concerning Internet marketing is security. As millions of people access the net everyday, Copyrights and proprietary information can be target of computer hackers and viruses. Moreover, there is also the risk that they can access the internal computer system and find out classified information (Paul, 1996). Another security issue is the financial transactions that occur over the network. By using unencrypted package, computer hackers can view the credit card number of the purchaser and cause terrible financial damages. Nevertheless, statistics show that the Internet crime rate is on the decreasing rate due to an increase in security features (Palumbo & Herbig, 1998).
One another major limit for the use of Internet as tools for international business is the structural constraints. In order to make proper use of Internet as tool for export, it is dependent on the absence of structural constraints. These constraints can take the form of computer literacy, culture, language; ownership of Pc’s which affect the efficacy of internet –based international business strategies. For instance, all the parties involved in this particular type of transaction should be computer literate and have access to equipments. Secondly, the Internet network should be easy and affordable to access. Thirdly, regulations that impede access to Internet should be removed. For example, in china, only those who register to the public security Bureau and employees of foreign companies can have accessed to internet ( Samjee, 1998).
The above discussion on the pros and cons of Internet on international marketing affect profoundly the major international marketing stakeholders in three aspects. Firstly, international marketers should consider Internet as cost-effective tool for export and if it use appropriately can be a competitive advantage for the company. Secondly, the internet-based businesses bring up some important issues to international marketing educators. The traditional teaching of fundamental international marketing like barriers to internalization, importance of intermediaries, country screening is no longer valid. The internet requires a different radical strategic approach to this new cyberspace environment (Hamill, 1997). Lastly, international marketing educators need to ensure that their students are familiar and understand the strategic implication of Internet in order to prepare them in this new cyber world characterized by international electronic commerce.
Hence, if a business is considering internationalizing, it should consider Internet as an option. Even than there are some risks associated with its use, the benefits may outweigh its disadvantages if it is use appropriately.
You can order a high-quality custom essay, term paper, research paper, thesis, dissertation, speech, book report or book review from our professional custom writing service. We have employed more than 500 highly qualified Ph.D. and Master's academic writers to provide students with professional academic writing help. Feel free to contact our company right now!
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