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BIS/303 Cost Controls and Resource Management System Flowcharts University of Phoenix

This document involves cost controls and resource management system flowcharts, likely used in a business information systems course at the University of Phoenix.

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Cost Controls1Cost Controls and Resource Management System FlowchartsBIS/303University of PhoenixExplain the role of Point-of-Sale (POS) systems and inventory tracking in hospitalitymanagement, focusing on how they integrate with otheroperational and accounting systems.Discuss the importance of data accuracy and how management controls and accounting strategiesinfluence the effectiveness of these systems. Additionally, evaluate the impact of technologyinvestments in the hospitality industry on accounting control strategies and overall organizationalefficiency. Include an analysis of the challenges that disorganization in inventory tracking, lackof information, and poor accounting control can pose to a hospitality business.Word Count Requirement: 1500-2000 words

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Cost Controls2Cost Controls and Resource Management System FlowchartsPoint-of-Sale and Inventory TrackingThe point-of-sale, or POS, and inventory tracking systems for hospitalityorganizations integrate with the otherinformation systems such as accounting andoperations information systems. The accuracy of information input at the POS is criticalbecause that information is passed on to other systems and databases.Theinformation input into the POS can be from multiple transactions inputs. These inputscan be from booking transactions, sales transactions, service transactions, prepaytransactions, after-departure transactions, as well as any other transactions.Customer information is entered through POS systems by an employee at thefront desk,concierge, over the internet,or phone. The information recorded on thePOS system includes information such as name, address, phone, email, rate, duration,rewards information, as well as billing information or any other special requests. Theinformation input into the POS system integrates directly with the accounting andoperations systems through common databases or as part of a larger propertymanagement system. This system would record inventory based on bookedreservations and new reservations coming from the POS system. A central database,or database management system (DBMS), is used to interface with multiple systems.“Eachwork area database interfaces with a central database, the DBMS, whichacts asa centralized warehouse for the entire operation—thus the termdata warehouse”(Tesone, 2006, p. 176).The data stored in the central database can be accessed byother departments including housekeeping, maintenance, accounting, operations, salesand marketing, and more.

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Cost Controls3The operations and accounting departments use process control andmanagement reporting functions to make informed business decisions. Process controlis important to understand what products and services are being used. “Process controlfunctions are procedures that track the use ofthematerialresources required toproduce products and services” (Tesone, 2006, p. 173).For example, managementreporting functionsmay includesales details, revenue volumes, and other reportingbased on data input from the POS systems.Operations and Accounting can use much of the information from the POSsystems. For example, customer information, rewards information, locations, rates, andother information is input from the POS system and recorded in the POS database. Thecentral database can retrieve information from the POS server and interface with theoperations and accounting servers, which can then provide the information to therespective departments. Operations can use this information to analyze andunderstand occupancy rates, length of stay, and other information.Maintainingaccurate inventory information is critical.Accounting can use the information input onthe POS to invoice the customer the correct amount.Point-of-saleTerminal(input)Central DatabaseDBMS MainframePoint-of-SaleServerAccountingServerOperationsServerProperty ManagementSystemInputNameAddressRewardsPhoneEmailBillingTransactionsProcessControlManagementReportsFigure 1.1: The flow of information from the POS terminal
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Document Details

University
University of Phoenix
Course
BIS 303
Subject
Business Management

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