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The Software Effect On The Quality Of The Financial Activity Of The Companies

Author

Listed:
  • Corina Ioanăş

    () (Academy of Economic Studies in Bucharest)

  • Mihaela Gruiescu

    () (Romanian American University in Bucharest)

  • Octavia Elena Lepas

    () (H.S.B.C. Paris)

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

  • Corina Ioanăş & Mihaela Gruiescu & Octavia Elena Lepas, 2010. "The Software Effect On The Quality Of The Financial Activity Of The Companies," Romanian Economic Business Review, Romanian-American University, vol. 4(1), pages 35-40, May.
  • Handle: RePEc:rau:journl:v:4:y:2010:i:1:p:35-40
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