Transaction Processing and Management Decision Support

Transaction Processing application include such things as processing of sales order, purchase order, inventory records and payrolls. A Transaction Processing System can be defined as an information system that records and processes routine transactions such as financial transactions arising from business activities.

These data items or transactions must be processed by a transaction processing system established in an organization with a high volume of transactions on a day to day core business operations, generating such periodic reports as cumulative sales figures to date, total amounts owed to vendors (Payable) or owed by debtors (Receivables), total inventory (stock) turnover and value of closing stock for a period, and so on; resulting to efficiency of operations and cost savings.

Data Entry or Capture; this process involves entering of data or collecting from internal or external sources into a computer with such input devices as keyboard, scanner, bar codes and other devices. Data entry can also be in the form Data transmission, where data are transferred over a communication channels through electro-magnetic signal such as infra-red signal, electrical voltage signal, radio wave, and so on.

Transaction Processing System makes available business data which can be used extensively by Decision Support System or Management Information System.

By definition, a Decision Support System is an information system at the management level of an organization that combines data, analytical tools and models to support decision making (both structured and unstructured). A decision support system, although does not make the decisions, makes use of data collected by transaction processing systems to evaluate business models and assist managers make critical decisions.

The objective of A decision support system is, using the data provided by transaction processing system and emphasis being on flexibility, to allow the manager to examine a number of alternatives by evaluating them; using the outcomes to discover their understanding of the existing problems and their relevant actions.

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This interaction provides the manager with necessary insight and judgment needed to first, control the process, secondly, effectively provide solutions to problems using packages such as linear programming, spreadsheets, modeling, forecasting, statistical analysis, expert knowledge (expert System) and information and so on.

The above business systems and many more, work effectively together to harmonize organizations goals while streamlining all processes necessary to achieve these goals under variety of potential conditions.

Do You Need Accounting Help?

Consistent up to date and cleaning of accounting records for sound business decision making, may be posing some difficulties when you are preoccupied with other business functions. Is it time to consider independent professionals because of certain technical complications that could occur along the line? It could also be daunting, time-consuming procedures. Not recording correctly and poor monitoring can cause complications and confusion.

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