The growth of financial services as a major part of modern Western economies would not have been possible without the introduction of the business computer.
Loan calculations, mortgages, interest payments and other financial transactions can take a very long time to calculate on paper or with a calculator. Thanks to the use of computers in business, these sorts of complex financial calculations can now be performed by computers in a few fractions of a second.
When buying a financial software package, there are basically two ways of getting the software you need. The first solution is to buy an off the shelf software package. This is usually the most cost effective option. However, you may need to change your business processes in order to fit it in with the way the software does things. This can be an annoyance, especially in medium-large enterprises. Some off the shelf software can be customised, so huge business change may not be required.