APPLICATION OF FINANCIAL DECISION SUPPORT SYSTEMS IN NORTH MACEDONIAN COMPANIES
Abstract
A company’s financial strategy represents the company’s direction on accomplishing and sustaining its competitiveness on the market. The financial strategy is constituted by the aims, ways and alternatives in improving and optimizing the financial management with the aim to achieve corporate results.
A financial decision support system provides information for specific financial problems by using analytical models and techniques including data base access for creating effective decisions by the manager. Financial managers use these systems for financial planning, financial modelling, analyzing alternative action plans, as well as conducting financial decisions.
This paper addresses the usage of financial decision support systems in North Macedonian companies and the usage level of these systems, the need for companies to implement a financial decision support system, to determine the need for this type of decision support system in the companies, to identify the implementation purpose, to define the usage of spreadsheets is financial analysis, as well as the usage of visualizing tools.
References
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