2. When choosing personal liability as an entity for a business. Why is personal liability an important consideration, and which entities provide protection against personal liability. Why?
3. In the article "Single ERP and HR Apps Cut Costs" a report is quoted which states companies can save up to 23% by replacing old IT systems with new, integrated systems. Describe how a company might accomplish these savings and what IT systems might be used
Single ERP and HR apps cut costs, says report
Consolidating enterprise applications can deliver up to 30% savings on costs, independent business advisory body Hackett Group said this week.
Its latest report, Optimising a Return on Business Complexity: Performance Metrics and Practices of World Class Companies, has found that companies can cut the cost of finance operations by 23% if they replace disparate IT systems with a single enterprise resource planning application.
Philip Carnelly, senior research adviser at Hackett Group, said, "IT plays a large role in determining the level of complexity in large businesses."
The more complex the IT environment in terms of middleware legacy system IT integration, the costlier it is to run.
The research found that by avoiding customisation of standard applications, a user can reduce operational costs significantly.
According to Hackett's report, companies that fail to reduce the complexity of IT spend 30% more on finance operations and 18% more on human resources per employee than companies that succeed in this area.
Michael Campbell, vice-president of Hackett in Europe, said businesses that have invested in common HR systems require 35% fewer HR staff and the cost of running an HR system is 27% less than running mixed systems.
Campbell said substantial savings can be made in procurement operations by deploying self-service systems such as online catalogues listing common suppliers. He said, "Every reduction of 2,000 suppliers can generate 5% savings on procurement costs. With fewer companies to deal with, businesses can get more closely aligned with suppliers."© BrainMass Inc. brainmass.com September 18, 2018, 6:11 pm ad1c9bdddf - https://brainmass.com/business/enterprise-resource-planning/business-system-entity-and-costs-169257
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Business system, entity and costs
1. Computer business systems have been around for 40 years. Desktop computers have been around for 20 years. Why do business systems, in general, still need more development?
Computer business systems in general still need more development because ...
650+ words with references explains why computer system development is ongoing, why protection against personal liability is important and many aspects of ERP and HR cost cutting.