In the early days of personal computing, accountants figured out how to utilize the tool to automate their ledgers with newfangled spreadsheets like VisiCalc and Supercalc. This revolution of technology in the 80’s quickly led to new “accounting software.” What is now Sage 100 was then the “Master of Accounting Series for the 90’s” or MAS90.
Over the years the computer software industry has developed a plethora of acronyms to brand and confuse their tools.
• ERP – Enterprise Resource Planning
• BI – Business Intelligence
• CRM – Customer Relationship Management
• MRP – Materials Resource Planning
• Two letter module codes… GL, AP, AR, IM, SO, PO, JC, PR, WO,
• LANs and WANs
• And the list could go on forever.
At the end of the day all this software is designed to do two things!
1. Capture and Classify the transactions of an entity
2. Report and provide Insight into the results of those transactions
The old saying garbage in, garbage out is as true today as it has always been. Therefore the first and most basic purpose of any business management system is to accurately capture and classify the results of transactions.
People also say the value of a system is the information you get out. This is also truth! In today’s world the data is becoming more voluminous and the speed at which people expect to turn it into knowledge is faster than ever before.
The next few blogs will delve deeper into key aspects of how to get value out of your business management systems by
• accurately capturing and classifying data, and
• how you can turn data into information and valuable insight
Just as financial statements tell us what we did, business intelligence derived from the data can provide future guidance, looking at the evolution of business management software not only tells us how we got here, but where we are going.