What Is an Accounting Information System (AIS)?

What Is an Accounting Information System (AIS)?
What Is an Accounting Information System (AIS)?

An accounting information system (AIS) gathers, stores, maintains, processes and retrieves financial data via information technology (IT)

As companies navigate the ever-evolving landscape of technological advancements consistently reshaping how businesses operate, an efficient system to facilitate and organize these new mechanisms and ideas becomes critical.

Encompassing everything from its users and software to hardware and internal controls, accounting information systems serve multiple vital purposes, centering on functionality. It streamlines workflows and maximizes efficiencies. It protects sensitive data and enables expeditious assessments. Its wide variety of tasks includes: project management, auditing, marginal reporting and tax services, among much more.

ACCOUNTING INFORMATION SYSTEMS PROVIDE BUSINESSES WITH:

Customized AIS solutions have become vital IT assets among many successful businesses across multiple industries, not just within the accounting field. According to the American Bar Association’s 2017 Legal Technology Survey Report, accounting and billing software is used by a majority of legal firms—with 70 percent of respondents reporting their companies make electronic billing software available for use.

Several advantages of incorporating an accounting information system include:

Reliability

With the increased sensitivity of financial and accounting records, ensuring this data is stored and processed securely is of paramount importance. Accounting information systems provide dependable security and confidentiality when it comes to collecting, distributing, storing and protecting sensitive documents. Furthermore, any and all access to AIS data is strictly controlled and limited to only authorized users.

Cost-Effectiveness

AIS solutions are designed to address various concerns otherwise requiring the attention of several employees. Capabilities such as prepping documents, managing finances, and distributing information through an all-in-one service hub save both time and money. Additionally, the high level of precision and accuracy inherent within such systems inform smarter business decisions.

Improved Company Performance

AIS software integrates traditional accounting principles with tech-based applications to provide innovative, centralized IT solutions for countless firms and businesses. Increased value, higher productivity rates, improved long-term effectiveness, and greater reduced risks of error are among its many invaluable benefits.


Sandwire

Full-service IT provider Sandwire specializes in secure, innovative and multi-functional tech solutions for the accounting industry, including: data storage, hardware and software support, and coordinated integration—with 24/’7 access. Learn more about our various services or contact us today to see how we can help your business utilize the very latest in accounting information system technologies.

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