Importance Of Computer Program Financial Planning In Our Advent Generation (Essay Sample)

Financial planning computer program
Introduction
For every operational business, planning creates efficient and effective running of the operation. At the advent generation where the computer has become the order of most operation, planning techniques continue to advance. Through planning revolutions, financial planning computer programs are adopted. The financial planning programs help in the smooth application of the computer to manage to the bank, investing, income flow and plan. More so, it helps in generation of tax forms, importing tools for other statistics and e- filling. The computer programs are therefore divided depending on the operation they undertake. With the advancement there come challenges and advantages of the usage.
Advantages
Foremost, a computer financial program reduces the cost. The operation of manual planning faces a lot of paperwork especially during the analysis of the documents. For a big business, such paperwork will mean increased number of personnel to handle all the flows. With the financial planning computer programs so long as the personnel continues to update the records on the computer, all job becomes more efficient. Such work will only need few personnel to make the analysis since the functions are integrated into one computer.
In the planning process, the efficiency of the computer programs creates a fancy feeling in the operation. The computer planning has integrated commands that can only take many seconds to respond to the user needs. Such ensures that the user attains the result in a very short time. The inflow and outflow of cash analysis become easy since it requires the entry of values and understanding on how to get the commands work.
Communication and coordination are enhanced in the process of achieving the main goals of the planning. The availability of databases and common area network within the company can hence link between all operations of the business. The data from one department can easily be sending files to another at a very first rate. The quality of the communication can even enhance the filling of the forms and send them to the main registry. In the event, the data will be available for analysis and updating the general company transactions. In the process too, there is an enhanced communication, coordination, and efficiency.
Problem-solving is the major goal for any advancement, be it the operation, management or planning. The associated planning in the computer programs favors the reduction of much workload in the company which is about the space. More often, too much of files results in need of more space may be for operation, keeping resources or extra personnel. In the event of too many operation and people in the analysis, the problem of inconveniencing operation will automatically arise in which solving become more complicated. For the computer programs errors can be checked and gross checked and alteration of one value will automatically change the value of the related values.
Security is one value that is a desire of every business operating under the flow of resources. The reason for the softcopy of the information comes with the easy access. Access is restricted and trusted persons have permission to go through the records. In connection to that, the loss or misplacement of the document is a problem encountered in most paperwork. In the case where there is a very advanced database loss of one computer do not mean the loss of data. At the operation of the company, the virtue of accountability and responsibility arises.
Disadvantages
Though we may value the efficiency of the financial planning there are some downsides that accompany all process. The most inconveniences may be regarding the performance, the user, and even the hardware.
As we account to the advanced technology, pessimists are there to find new ways through hacking of the systems. The information which is stored in the database can easily be altered by changing a value and becomes null. The people involved in the data security should use maximum encryption since information lost will lead to total paralysis of the business operation records. In the event, hacking more information is lost at once which becomes a greater challenge to the company.
The process of use of the computer application needs a well-conversed person. In the process, there is a need to have a very dynamic individual in operation. The computer application needs updates now and then and therefore needs maintenance. This is challenging to most people since people wants to do things the same way since they have cyclic experience of the activities. In the process, the operation is prone to errors.
Updates to the computer programs may vary. If there are separate units in the computer programs the updates may have different versions. The versions need a flexible person to use the entire versions which are not the case at all time. Such difference will cause inconvenience in operation and coordination since different soft wares have dif...