Discuss about the Development and Implementation of Account Software.
ERS or Enterprise Resource planning is basically a business process management software that offers a number of integrated applications for an organization so that it can effectively manage its day to day business activities and can even automate numerous back office functions. As an organization thinks of expansion, then there is a simultaneous expansion in its workload. At this threshold level, automatization of crucial human works becomes a priority. The ERP software deals with all pivotal spheres of an organization ranging from product planning and development to manufacturing as well as sales and marketing of the products. Another similar term for this system is AIS or Accounting Information System (Rouse, 2016). This efficient structure is used by a business to collect, store, retrieve, manage and process its financial data so that it could be easily analyzed and interpret by accountants, consultants, business analysts, managers, chief financial officers (CFOs), auditors, etc. The AIS is installed in a company with an ultimate aim of implementing the highest level of security and accuracy in the firm’s recordkeeping and financial transactions. This data could then be legally accessed by the ones who need it. The AIS basically includes People, Procedure, Instructions, Data, Software, IT infrastructure and Internal Controls (Beal, 2016).
The following business report is an effort to propose the best Accounting Software for the two firms taken into consideration. While evaluating the best software, the business requirements are taken into consideration. The newly suggested ERP/ AIS should have the capability to address the present and potential challenges of the companies associated with the Accounting system. One of the considered companies is Disk4U which sells CDs and Vinyl Records. It is a small family owned business spread around the Sydney metropolis. The other company is Sungate Foods is a Victoria based rice and wild rice producer. The firm operates through three processing/ a warehouse location while employing 100 employees as the base staff and even has a marketing office in Melbourne, Victoria (Wiley, 2013).
A capable ERP program is a cornerstone of financial and operational management for most successful businesses. The implementation of the software is indeed a tough task. The Business process for the accounting software begins with the analysis of actual needs of the customers and their specific requirements with the software. After analysis of the requirements, it becomes crucial for the service providers to gather resources for the same. This process not only requires the software vendors to collect financial resources for the software development, but at the same time there is a huge requirement of talented human resources that could customize softwares with the changing perceptions and requirements of the clients. Good IT executives are also required to resolve software related issues faced by the customers. The collection of resources is followed by the development of software by implementing the knowledge of the human resource in compliance with the requirements of the clients (Appian Team, 2016).
Only the development of the software is not necessary for delivering effective services to the clients, but at the same time it is necessary that the company should gather resources for management of the software after it has been implemented in the client company. The technology is changing at a rapid pace and due to these changes the softwares need to be managed periodically. As the software is being developed for the accounting department, hence most of the people acquiring the services are not well versed with the Information Technology environment and in times of crashes they definitely need the guidance of the IT experts from the service providers (Lampathaki, et al., 2013).
Prior to the implementation and maintenance, the vendors need to promote their services to the ones in need (Clients First Business Solutions LLC., 2016). For this an analysis of the markets is to be made and efficient promotion channels are to be adopted. These channels are basically designed to target specific people at a single time. Sometimes analysis of needs is required and sometimes needs are to be created among the consumers about the products. The vendors in the markets generally offer similar types of products and hence there arises a need of offering special services which can differ one vendor from another. This is the fact that creates competitive advantage over the rivals for a firm. The special services of vendors also offer new experiences to the customers.
Before developing the accounting software, there are a number of requirements that are to be met. The business requirement gives acceleration in the development of the software process. However, when the needs of the clients become more specific, then the requirement range also narrows. The requirements of two clients in the markets are never same and hence the vendors have to keep this in mind that while meeting the specific needs of one client, the needs of the other client is not ignored.
Business requirements are high level requirements that are typically understood by the management and a board of directors. These requirements are to be in compliance with the services being offered by the third party to the client company. The management is said to closely analyze such requirements and thus the service providers have to pay a keen attention while meeting such requirements (1CC UK Team, 2007).
The business requirements for implementing efficient accounting software in the considered company are almost similar. However, due to the size of the company, these requirements may vary sometimes. The requirements are as follows:
The competition in the accounting software industry is growing at a rapid pace and hence the system requirements are also altering in the similar manner. The companies are now developing softwares according to the advancements in the Information Technology around the world. The platforms, on which these softwares are running, are in an evolving phase. As soon as a new platform is launched, then the companies have to amend their softwares accordingly.
The system requirements of the accounting software basically include an Operating system, a Minimum set of Hardware, a Network, Printer Requirements, etc.
As the companies will be installing the accounting software for the first time, then the leading OS is needed for a newly installed accounting system (The Sage Group plc, 2016). The advanced version of Windows and iOS is preferred over the others. Similarly, the hardware requirements for the advanced softwares include a speedy microprocessor with a minimum of 5 gigabyte of free disk space initially. The networks established for the efficiency of the software should have secure cables. The Wi-Fi connections between the Client/ Workstation and Data server is generally not supported nor preferred.
Apart from the technical requirements, as both the considered firms are operating on a low to (The Sage Group plc, 2016)medium scale, hence, the softwares being offered to them should be cost effective. The accounts of the companies are not very vast and even they don’t have human resources that could manage the softwares which are quite technical in their usage. Hence, for such firms, the softwares should be easy to use and manage. As both the companies are quite new to this field of accounting softwares, hence they are also quite reluctant in paying a huge amount of their revenue in such a field. So, it becomes the requirement of the firms that the softwares are offered at affordable prices (Altinn Business Information Service, 2016).
Both the companies considered for this report are small ventures that are not well versed with the accounting softwares and its technical implications. In such a case, the software should be easy to use and manage. The software should also satiate the needs of the non-technical users. The ambience offered by the software should be user friendly so that the clients could implement it according to their needs and even customize it when required.
Not only installation, but management of the software is also required. If the softwares are coded in the latest programming languages, then the users could easily handle its management in worse situations. The latest programming languages are quite close to the user and the codes are generally written in English language with easy syntaxes. These codes could easily be interpreted by the end user and if need could also be amended by utilizing the lowest possible resources.
Flexibility of softwares is another notable feature that forms the prime requirement of the customers while searching for suitable accounting softwares for their firms. Flexible software could easily be customized according to the needs of the firm. This feature will allow the customers to rely highly on the automated accounting system rather than the manual management of the finances and accounts. The users will feel free to use the software according to their understandings and needs (CAS Team, 2012).
The Software selection process is also a crucial task when it comes to decide the appropriate accounting software for the company. The software selection highly relies on the needs and size of the firm. As the technology is changing at a rapid pace, hence there are a number of service providers in the markets who offers the best accounting software. The needs of the customers form the crucial basis in deciding which software to prefer.
For instance, the two companies need accounting software that is compatible with their system requirements. Considering the small size of the firm and even their specific requirements, there are a number of players in the Australian market who develops best accounting softwares for the clients and this includes: Xero, Saasu, MYOB, Reckon, Intuit, QuickBooks Online, Sage, Netsuite, etc. MYOB is the biggest SME accounting software provider in the Australian markets (Sommerville, 2004). For security purpose this provider saves the client’s data on the online severs or to the desktop itself. This service provider has been a traditional one and accepted by all those who are quite new to this accounting software ambience. The only drawback is this software needs to be downloaded and installed on desktop only and cannot be accessed on a different platform. The most leading competitor of this service provider is Xero, which targets both the giant accounting firms as well as smaller businesses. It is a New Zealand based software company. Its key features include automatic bank and credit card account feeds, invoice, expense claims, purchase orders and standard business management reporting. For specific users in Australia, the company is providing a payroll feature. Saasu is the old man of the online accounting services. It offers affordable services to the customers who are looking for a low-cost alternative. The firm has spent a little on its marketing strategies to accumulate a customer base of about 25,000 companies. Reckon is another player in the market which provides both cloud-based and desktop-based accounting software. This firm has a strong competitive advantage over the others as its software is acknowledged by a number of Accountants across Australia. Intuit, the leading US giant has given a great competition to the growing business of Xero in Australia. To have an edge over this leading competitor, Intuit played a destabilizing campaign by promoting its own online accounting program to Australian Bookkeepers and accountant at a very affordable price. This approach helped Intuitive to target those customers of the competitors who have a priority of affordable pricing above all the other available dimensions (Comptechdoc, 2016).
Sage is also a renowned name in this competition as it gives a tough competition to the others of the same genre. Recently, the company has introduced Sage One Online software which has been acknowledged by a number of users in Australia.
The changing perceptions of the accounting software clients in Australia have made the service providers to include innovative elements in their services and it has become crucial also as the competition in this field is increasing at a rapid pace. The innovative ideas installed will allow the customers to differentiate between good, better and best services and choose wisely among the available options.
As both the firms are entering into the world of automated accounting for the first time, hence, it becomes pivotal for them to have a wise selection of the vendor (Lotich, 2013). The selection of the best vendor is based on the following criteria:
Conclusion
Although there are numerous leaders in the market to provide the best experience to both the clients in the field of accounting softwares, but among them only those will be selected that will satiate the peculiar needs of the clients. The decision of selecting the apt vendor for the firm highly relies on the current status of the vendor in the Australian markets and even the quality of services they are offering. On the basis of the above discussion, it could be inferred that Xero and MYOB could be the best service provider for both the companies. This is because both these vendors are quite experienced in their field and can offer customized softwares to both the clients. These leaders already have a huge customer base in Australia and this gives the competitive advantage over the other players in the market.
References
1CC UK Team, 2007. Hardware and Software Requirements for Sage 50 v15 to v22: Sage, Available at: https://www.1cc.co.uk/Hardware%20and%20Software%20Requirements%20for%20Sage%2050%20v15%20to%20v22.pdf
Altinn Business Information Service, 2016. Requirements of the accounting system. Requirements of the accounting system.
Appian Team, 2016. Business Process Definition. [Online]
Available at: https://www.appian.com/about-bpm/definition-of-a-business-process/
Beal, V., 2016. ERP – enterprise resource planning. ERP – enterprise resource planning.
CAS Team, 2012. Specifications for a Company-wide Accounting and Financials Solution , Available at: https://www.compareaccountingsoftware.com/product_pdfs/rfp.pdf
Clients First Business Solutions LLC., 2016. Needs Analysis and Software Selection. Needs Analysis and Software Selection.
Comptechdoc, 2016. Software Requirements Definition. Software Requirements Definition.
Lampathaki, F., Koussouris, S. & Psarras, J., 2013. Business process modelling: Decision Support Systems Laboratory, NTUA, Available at: https://academics.epu.ntua.gr/LinkClick.aspx?fileticket=nNPcBN7bjX0%3D&tabid=930&mid=2218
Lotich, P., 2013. Vendor Selection Criteria – 7 Things to Consider. Vendor Selection Criteria – 7 Things to Consider, 30 January.
Mukherjee, K., 2014. Supplier selection criteria and methods: past, present and future: MPRA, Available at: https://mpra.ub.uni-muenchen.de/60079/2/MPRA_paper_60079.pdf
Purchasing and procurement cente, 2016. Selecting A Vendor: Your Vendor Selection Criteria. [Online]
Available at: https://www.purchasing-procurement-center.com/selecting-a-vendor.html
Requirements Network Team, 2016. Business Requirements vs Functional Requirements. Business Requirements vs Functional Requirements.
Rouse, M., 2016. ERP (enterprise resource planning). ERP (enterprise resource planning).
Sommerville, I., 2004. Software Requirements: CS2 Software Engineering, Available at: https://www.inf.ed.ac.uk/teaching/courses/cs2/LectureNotes/CS2Ah/SoftEng/se02.pdf
The Sage Group plc, 2016. Sage 50 Accounting System Requirements. Sage 50 Accounting System Requirements.
Wiley, C., 2013. What are Accounting Information Systems?. What are Accounting Information Systems?, April.
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