1. It stands for Accounting Information System.

It is generally a computer-based method for tracking

accounting activity in conjunction with information technology resources. It automates and streamline
reporting, develop advanced modelling and support data mining. AIS is used for collecting, storing
and processing data that are used by decision makers. The success of the organizations relies on the
data being gathered. The data gathered are the basis of whatever decisions upper management will
make for the business. When we have a well-developed and properly maintained accounting
information system, that gives us efficient and accurate data, which is an important component of a
successful business. An AIS acts as a combination of hardware, software, people, data and
procedures. It is related to its functions. In this phase the data is collected and processed. It is done by
using an accounting Information system that gathers data and keep them in accurate management
database. This phase helps in providing important reports to the management. the management uses
the reports derived from AIS to analyze the datas.

* Information system is the set of formal procedures by which data are collected, processed into
information, and distributed to information system.

*Information technology (IT) has created significant benefits for accounting departments. IT networks
and computer systems have shortened the lead time needed by accountants to prepare and present
financial information to management and stakeholders.

The biggest impact of IT has made on accounting is the ability of companies to develop and use
computerized systems to track and record financial transactions. Other capabilities of computerized
accounting systems are: Increased Functionality, Improved Accuracy, Faster Processing, and Better

2. Opportunity Enhancing customer satisfaction, increase reliability and accessibility of service, creating
good relationship between clients & business and also used as a better information control.

Major challenges identified include: including low levels of internet penetration and limited
communication infrastructure, human capacity issues; legal issues, no legal background towards
electronic document, absence of ecommerce policy and public awareness.

3. Online security breach

Solution: Enforce additional layers of network security. You can start from the firewall.

After that you can add more layers on the website through contact forms, sign up boxes and search
queries.

Your web development service provider can help you in setting up security for your site.

Make sure you initiate and end your transactions with SSL certification

Select a safe and secure e-commerce platform which uses object-oriented programming language.

Keep on monitoring your website regularly and ask your web hosting company to check their servers for
any virus or malware.

Purge old records from the database and keep a minimum amount of data.
 Client disputes and refunds

Solution: Avoiding shipment of wrong product.

 Not charging the customer until and unless you are sure that all items have shipped and
delivered.
 Using tracking number for each order that is placed and shipped.
 Barcode scanners help in minimising payment related errors.

Violation of Intellectual property

Solution: Do not copy IP of any other company.

 Enforce strong copyright rules.

 Train your employees regarding IP security.
 Never disclose sensitive information during live chats because they are not secure at all.
 Employ strict written protocols and enforce security policies and practices.

Low SEO ranking

 Solution: Find the right keywords to promote your products.

 Use the right tools to search for
 Make an effective social media strategy

Credit cards scams

 Solution: You should be PCI compliant because PCI compliance protects the data of a credit card
holder and maintains the firewall.
 Use Secure Sockets Layer authentication for protection of data.
 SSL certificates are important for transactions.
 They can authenticate your business identity and encrypts the data which saves the data from
being stolen.

Poor customer service

 Solution: Always be polite when you are talking to your customers.
o Focus on exceeding the expectations of your clients.
o Always gracefully respond to your customer’s queries and apologise for your mistakes.
o Use effective inventory management software to save your customers from any
inconvenience.
o Try to provide accurate deliveries.
o Personalisation is the key to impress customers.

Weak authentication methods

 Solution: The best solution to this problem is that you should use two-factor or multifactor
authentication methods.
o It is the perfect way of improving your online security.
o It adds an extra layer of security and can ask for a verification code other than ID and
passwords.