Impact of Business Analytics and Enterprise Resource Systems on Effective Accounting Practices in Corporate Organizations

Abstract

This study examines the impact of Business Analytics and Enterprise Resource Systems on Effective Accounting Practices in Corporate Organizations . By means of an exploratory research design and based on the empirical reviews on business analytics, the study concludes that businesses should move from a traditional accounting structure to a more comprehensive accounting system that has integrated analytics. The implementation and integration of analytics bring a challenging process for businesses and individuals. Also, Staff of corporate organizations needs to adapt to analytics and allocate more resources to the process management of enterprises for their implementation. The study recommends that; since ERP systems are allowing capital budgeting, budgeting, operating statements, forecasting, performance measurement, and costing to be more detailed, more accurate, and reported more quickly, organizations across the globe should deliberately drive a shift in the role of the management accountant and accounting, as a whole. ERP implementation should remain one of the major contributors to this change. Accountants must persistently consider ERPs that allows them to expand their roles and as against producing figures, they can dispose of more time for further analysis and value adding activities in areas such as cost control.