Financial Information System

Financial Information System

FINANCIAL INFORMATION SYSTEMS

INTRODUCTION:
Generally, Information is the lifeblood of financial markets, but they rely on a flow of news and market information to function. Moreover, financial information systems deliver huge amounts of details to financial professionals around the world about counter markets, price endorsers, research services and news-providers. According to a survey conduct by International Network for Microfinance Institutions (INAFI) and adopted by KWFT (Kenya Women Finance Trust) who is a member of the network, Financial professionals have access to a wide range of data from breaking news and immediate prices, price-histories, historic news, stats, agent research, corporation fundamental data and estimates (KWFT survey report, 2000). However, the most demanding users of financial information are investors who are mainly, referred to us, as traders and sales people. The same report adopted also shows that these investors require high-speed and high execution systems because seconds can add up in their fast-paced environment. Hence the reason as to why I choose Kenya Coach Industries ltd. (KCI) as my case study.

KCI ltd. is an organization dealing in motor vehicle assembling with a specialization in vehicle Chassis and Body Building. The organization operates in the automobile industry. The industry is, regarded among the few that pose high and fast-paced operating environments. KCI, is located in Industrial Area Nairobi; it has been in existence for over 20 years and has a number of departments namely; The Motor vehicle assembly department, Motor Vehicle Service Department, Marketing Department, Finance Department, Motor vehicle Parts Department and HR/Administration Department.

Financial Information System (FIS) is a term for a system that accumulates and analyzes financial data in order to make good financial management decisions in running a business according to Edward, John and Andy (1985). In their book, the essence of...