Question

Discuss how emerging technologies, such as the Internet, affect the GL/ BR process. In what ways will organizations have to adapt their business processes to reflect the changes in these external factors?

Answer 1

The new and improved technologies have affected the business organizations and all aspects of business operations of these organizations. Internet, computer, and other such technologies have affected the general ledger and business reporting of organizations. It has been made possible to record entries in the general ledger immediately after its occurrence in the head of office of an organization despite the transaction being taking place at a remote location far from the head office. Computers have made it possible for the organization to improve its business reporting with availability of timely records. The internet has improved the communication between the employees and workers of the organization to coordinate better and improve the process of recording entries in the general ledger as well as the business reporting of the company.

The organizations will have to adopt to these changes in external factors to use the technology in their advantage. The following are the ways that will help the organization to adopt to the changes in external factors:

1. Recruit employees keeping in mind the changes in technology so that the employees can work with modern technologies effectively.
2. Providing training to the employees to impart necessary skills to work properly with the modern day technologies.
3. Modify the business processes accordingly.
4. The business processes will have to be aligned with the modern technologies.   
5. Continuous up gradation of business processes to ensure these are in-line with the modern technologies.