Information Use

Timely Use of Information

In the future, Riordan’s business objectives requires filing reports to headquarters in a timely manner for budgeting, financial planning, expansion, tax reporting, payroll, sales planning, purchasing, and procurement. Each department must determine a schedule to detail which reports are required and by when. All branches must work together to determine the schedule and deadline. Getting all departments and branches on the same schedule allows more efficiency in financial reports, taxes, and business planning. Some expected results entail fewer fees for any late tax forms, better financial planning, and improved business planning. Detailed information from all sources allow for better planning by management.

Consolidation of Resources

Riordan recognizes the need for more efficient use of resources in an effort to build better customer relations, improve business performance, and increase profits. To achieve this goal Riordan will implement an operation-level information system. This system will allow more efficient operation awareness and responsiveness. All facilities will merge under one cooperate brand in an effort to pool resources and identify unnecessary policies, procedures, and any other wasteful spending.

Eliminate Redundancy

Riordan Manufacturing requires an information system in its financial department that eliminates redundant and time-consuming labor. The authors of an article (2007) in Management Journal wrote, “With the use of communication networks, customers can access enterprise services or buy enterprise products from anywhere in the world in the means of seconds. To survive in such an environment, the enterprise must use an efficient and customized information system as a main business foundation” (Požgaj, Sertić, Boban, p. 66). The new system will improve efficiency, not decrease it. At present, employees waste time entering data that was turned in on hard copy and re-code data that was sent in...