For Implementing ERP Systems,the First Task Is to Create a Model

question 47

True/False

For implementing ERP systems,the first task is to create a model of current business procedures and practices,which is called the as-is model.

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Definitions:

Responsibilities

Duties or obligations assigned to individuals or organizations, requiring them to act in certain ways or achieve specific outcomes.

Electronic Funds Transfer

The electronic exchange or transfer of money from one account to another, either within the same financial institution or across different institutions, through computer-based systems.

Bank Deposits

Money placed into a banking institution for safekeeping, which can include savings accounts, checking accounts, and certificates of deposit.

Petty Cash Management

The process of overseeing and controlling the petty cash fund, a small amount of cash on hand used for minor expenses.