ERP, which is an abbreviation for Enterprise Resource Planning, is principally an integration of business management practices and modern technology. Information Technology (IT) integrates with the core business processes of a corporate house to streamline and accomplish specific business objectives. Consequently, ERP is an amalgamation of three most important components; Business Management Practices, Information Technology and Specific Business Objectives.
In simpler words, an ERP is a...
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If you work in a corporation or with a large organization, you might have heard the phrase "change management" used from time to time. Change management has been around for a while, but has become extremely popular with organizations or corporations that would like to initiate significant change to processes that can include both work tasks and culture.
A common definition used for change management is a set of processes that is employed to ensure that significant changes are implemented in...
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SAS 70 is an acronym for Statement on Auditing Standard 70; it was developed and is maintained by the AICPA (American Institute of Certified Public Accountants). Specifically, SAS 70 is a "Report on the Processing of Transactions by Service Organizations" where professional standards are set up for a service auditor that audits and assesses internal controls of a service organization. At the end of the audit, the service auditor issues an important report called the "Service Auditor's...
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A decision support system is a way to model data and make quality decisions based upon it. Making the right decision in business is usually based on the quality of your data and your ability to sift through and analyze the data to find trends in which you can create solutions and strategies for. DSS or decision support systems are usually computer applications along with a human component that can sift through large amounts of data and pick between the many choices.
While many people think...
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DMAIC is a basic component of the Six Sigma methodology- a way to improve work processes by eliminating defects. The Six Sigma methodology is widely used in many top corporations in the United States and around the world. It is normally defined as a set of practices that improve efficiency and eliminate defects.
Six Sigma has been around for more than 20 years and heavily influenced by TQM (total quality management) and Zero Defect principles. In its methodology, it asserts that in order...
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Six Sigma is defined as a type of business improvement methodology. Its main objective is to implement a vigorous process to systematically eliminate defects and inefficiency. It was originally developed by Motorola in the early 1980's and because of its proficiency has become extremely popular in many corporate and small business environments around the world.
Six Sigma's main purpose or objective is to deliver high performance, value and reliability to the customer. It is regarded and...
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Enterprise Resource Planning or ERP is actually a process or approach which attempts to consolidate all of a company's departments and functions into a single computer system that services each department's specific needs. It is, in a sense, a convergence of people, hardware and software into an efficient production, service and delivery system that creates profit for the company.
While the idea is easy to grasp in theory, the reality has been different. Most companies have a...
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CRM software helps organizations implement effective Customer Relationship Management (CRM).
CRM itself is not a software application, but is instead a strategy for doing business.
CRM methodologies are focused on building individual customer relationships for the purpose of creating and maintain a loyal customer base.
CRM software works across all corporate departments to help harmonize customer-centric thinking in the entire organization.
This interdepartmental cooperation also reduces...
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HIPAA, the Health Insurance Portability and Accountability Act, was enacted by the U.S. Congress in 1996, and became effective July 1, 1997. This act is a grouping of regulations that work to combat waste, fraud, and abuse in health care delivery and health insurance. The intention of the HIPAA is also to improve the effectiveness and efficiency of the health care system, portability and continuity of health insurance coverage in the group and individual markets, as well as the ability to...
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Service management, also called IT service management, is the discipline used in industries that provide services or a combination of goods and services. While widely used in the IT industry, specifically the ICT (information and Communication Technology) sector, service management can be integrated into many other industries.
Service management is usually used in conjunction with operations support systems. Systems that use service management can include order management, inventory...
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