Procure to pay - Study guides, Class notes & Summaries

What are the common file types used to store business data? - ️️master file transaction file history file reference file suspense file Examples of For Profit: - ️️manufacturers service providers retailers/distributers agricultural/mining financial utilities real estate transportation/logistics Name and describe the four common business events for the business process Order to Cash. - ️️1) provide a quote to the customer (and other forms of marketing and customer servic...

Chapter 7 Answer .... Core Business Processes Answer Traditional business functions: Marketing and sales, supply chain management, accounting and finance, and human resources Not distinct independent silos, but instead highly interrelated. Business Processes cross boundaries of business functions. Order-to-cash Process Answer The process associated with selling a product or service. Process is involved in generating revenue. Create customer record--> check credit--> create ord...

BUAD 342 Exam 1 Questions and Answers Already Passed What source document is used to summarize/document each receipt of goods? A. Both Packing Slip and Receiving Report B. Packing Slip C. Receiving Report D. Picking Slip E. Bill of Lading C. True or False? In database, each record is made up of a collection of columns called fields. True For some companies, traditional operational databases are not enough. Which of the following explains why? A. You need specially trained profe...

Which of the following is not a typical event in the Procure to Pay business Process? → Deliver goods/services to customer In regard to Big Data, differences in the types/sources of data (structured, unstructured or semi-structured) are referred to as: → Variety ______ combine both data and methods (i.e. instructions for processing the data) into a single processing element → Objects Which of the following scenarios would most likely benefit from real time processing instead of...

Why do organizations perform business processes? → to reach strategic business goals How is a business event related to a business process? → By analyzing business events, we can more easily identify the data needs of a business process. Name and describe the three core interdependent business processes that are common to all organizations. → Procure to Pay (selling) → Order to Cash (buying) → Conversion (making) Name and describe the four common business events for the bus...

Which of the following is not a typical event in the Procure to Pay business process? A) Deliver Goods/Services to Customer B) Store and Maintain Goods C) All of these are typical events in the Procure to Pay process. D) Identify a need E) Receive and Inspect Goods/Services from a Vendor → A) Deliver Goods/Services to Customer In regard to Big Data, differences in the types/sources of data (structured, unstructured or semi-structured) are referred to as: A) Validity B) Variety C) V...

For some companies, traditional operational databases are not enough. Which of the following explains why? - ️️-They are expensive to scale out or up -You need specially trained professional to oversee them -They can't process large volumes of data in near real time If the Customer_ID field is the primary key in the customer table, what is Customer_ID called when it shows up in the Orders table? - ️️Foreign Key Sally is the Sales director at Rose's Flower Shop. When a customer co...

What is postmortem dividend? - A dividend earned, but not yet paid, in the year of the insured's death and paid with the death claim A life annuity with period certain pays the annuitant - Until death and then the beneficiary if the certain period has not been exceeded. A joint life policy can have many uses some of these could include? - 1. To cover two lives on the same policy 2. To pay estate taxes when the second spouse dies 3. To pay off a home mortgage should one of the working spo...

INMT 341 Test Questions and Answers What are the 3 business processes? - Answer-Procure to pay, conversion, and order to cash What is a business process? - Answer-A collection of related activities performed by a group of stakeholders to achieve a concrete goal. The stakeholders combine different resources and inputs to create an output that is of value to the organization, its stakeholders, and/or its customers. What are the events for the order to cash process? - Answer-- MARKET good...

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...