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

Author

Listed:
  • Ioanas Corina

    (Academy of Economic Studies, Bucharest)

  • Dinescu Emilian

    (“Lucian Blaga” University Sibiu)

  • Tapliga Pusa Tania

    (Romanian Academy Bucharest)

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.

Suggested Citation

  • Ioanas Corina & Dinescu Emilian & Tapliga Pusa Tania, 2010. "The Software Effect on the Quality of the Financial Activity of the Companies," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 672-676, May.
    • Handle: RePEc:ovi:oviste:v:10:y:2010:i:1:p:672-676
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    More about this item

    Keywords

    software packages; time savings; risk; financial activity;
    All these keywords.

    JEL classification:

    • Q33 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Resource Booms (Dutch Disease)

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