Question

Explain how the outbreak of the COVID-19 pandemic impacts on the accounting information system as a natural disaster and the strategies businesses can adopt to maintain current business operations

Answer 1

Undoubtedly Covid 19 has taken a toll on human life and also has an impact on accounting information systems.The Technology and Media Industry is playing a pivotal role in the accounting information system market and research also highlights upon competition scenario, demand-supply trends, a key consideration of suppliers, and economic factors influencing on the global accounting information system market.

Firstly businesses needs to consider the security of their respective accounting information system as hackers may think this covid time is the best time to steal companys sensitive data, in order to protect these we need to rely on best securuty practices which can be aailed from third parties also.

Secondly company needs to follow a business continuity plan, means it can be able to do operations as usual even if there any any contigencies, there sjould be a proper BCP unless which it will be difficult to operate during these times. In BCP, security of accounting information is the most important aspect.

There is a saying called Necessity is the mother of invention, during these difficult times, there may be several service providers like SAP, Orcale who will provide best services without compromiseing in the data breach, we can alos make use of these services.