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Read the following case. Help Oval Manufacturing decide both a) whether to adopt XBRL-enabled software and b) whether to adopt an ERP system. Briefly discuss
Read the following case. Help Oval Manufacturing decide both a) whether to adopt XBRL-enabled software and b) whether to adopt an ERP system. Briefly discuss benefits and drawbacks for a) and b) and label them accordingly. Make sure to provide a final recommendation for both decisions. You may use any format (such as sentences, bullet points, etc.) to answer this question. Oval Manufacturing's revenue has grown into the millions, and they are considering going public. The company currently has an accounting information system, but increasingly find they need the system to do more. For example, the finance department has a growing need for reporting financial data, often in ways the current system cannot easily perform. In addition to their accounting system, Oval also has a system managing manufacturing information, and a supply chain management system. Rather than revise its existing systems one part at a time, the company's managers are considering acquiring a new overall system
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