Interdependent Business Process - ️️The ability to deliver a product to a customer
is dependent on the process of acquiring and converting the resources used to create
that product
Conversion Business Process - ️️The activities necessary to convert raw inputs into
finished products and ...
BUAD 342 | UTK | Exam #1
Interdependent Business Process - ✔️✔️The ability to deliver a product to a customer
is dependent on the process of acquiring and converting the resources used to create
that product
Conversion Business Process - ✔️✔️The activities necessary to convert raw inputs into
finished products and services. The bridge between Procure to Pay and Order to Cash
Order to Cash Business Process - ✔️✔️1. Market goods or services to potential or
returning customers (and/or perform support activities that help a customer choose you
as a vendor)
2. Negotiate the terms of an order for goods or services
3. Select and inspect goods to be delivered to the customer
4. Prepare goods or services for delivery to the customer
5. Deliver goods or services to the customer
6. Receive payment for goods or services from the customer
7. Negotiate the terms of, and possibly accept, a customer return of goods
Order to Cash - ✔️✔️The sequence of activities that collectively serve to attract and
retain customers, help customers select goods and services, deliver the goods and
services requested, and collect payments for the goods and services
Not for Profit - ✔️✔️Strive to provide particular services to constituents (e.g.,
governments, educational, or charitable organizations)
Business Process - ✔️✔️A collection of related activities that combine different
resources and inputs to create an output that is of value to the organization, it's stake
holders and/or its customers. These outputs may be products or services
Procure to Pay - ✔️✔️The activities involved in acquiring, paying for, and maintaining
the goods and services needed by an organization (inputs)
Economic in Nature - ✔️✔️Business events that increase or decrease the quantity of a
firm's economic (financial) resources
For Profit - ✔️✔️Organizations that strive to generate a profit (revenue in excess of
expenses)
, Procure to Pay Business Process - ✔️✔️1. Identify need and (possibly) internally
request the purchase of goods or services by an authorized purchasing agent
2. Negotiate a purchase order with the vendor
3. Receive and inspect goods or services from a vendor
4. Store or maintain goods
5. Pay a vendor for goods and services
6. Return goods to a vendor
Order to Cash Process - ✔️✔️The Order to Cash process is the heart of the company's
value chain and is typically the only time the customer directly interacts with the
organization.
Business Process Analysis - ✔️✔️—What happened and why?
—What roles are performed and who/what agents perform the roles in executing each
event?
—What kind of resources were involved and how much was used?
—When did this event occur?
—Where did this event occur?
—What can go wrong by executing this event?
Recording Data - ✔️✔️Collecting data that describes business events, the who, what,
when, where, why, and how much about business activities.
Maintaining Reference Data - ✔️✔️Keeping current and accurate reference data about
resources owned or used, external parties, employees, and locations where
activities/business takes place.
Reporting Data - ✔️✔️Provides information and measurements to support organization
critical activities such as planning, controlling, and evaluating
Source Document Data Flows - ✔️✔️Capture detail data about business events then
move data from one point to another. Serve as supporting documentation for
subsequent information processing
Source Data Automation - ✔️✔️A process of collecting data at its point of origin in
digital form; eliminating duplicated effort, potential for errors, and delays associated with
manually collecting source data then reentering into a computer
EDI (Electronic Data Interchange) - ✔️✔️A method for exchanging business data
between or within organizations in a structured, machine retrievable format
EDIFACT - ✔️✔️The standard EDI (outside of North America. Developed by the United
Nations Economic Commission
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