Discuss about the Intrinsic and Extrinsic Motivation.
Bakery is one of the leading bakery businesses in the Australia, which operates its business over the last 50 years. Similar to other bakers, it mixes and bakes the ingredients according to special recipes in order to make a variety of bread. It also produces confectionery products in its products line. These products are sold to the different business, including the supermarkets, pub chains, grocers, wholesalers, restaurants and institutional food services (Abduljalil and Zainuddin, 2015). It has mixed customer base with the some of the prominent businesses and its own customers.
B Bakery is a family-owned firm, which is running since last 50 years. In this, more than 70 employees are working on the different positions and designations. The firm’s sales revenue has reached more than 13.5 million during the past year. In the context of the financial performance, the firm performance has remained mixed over the years. But, from the last few years, B Bakery has been achieving growth in the financial position. It is because the company has launched a new product line in the healthy food segment, which is getting good responses from the customers. A bakery business is required different processes or activities such as production, supply chain management, marketing, accounts, human resource and sales process.
As a business firm, B Bakery is responsible for producing and distributing the better quality product in order to maintain the profitable working environment (Becker, et al., 2013). In this, B Bakery follows some significant business activities/ processes. Its primary activity is the production of the various delicious bakery goods and confectionary products. This process includes measuring and mixing ingredients according to a particular recipe of the product. Once the production process is completed, the products cut and roll under the recipe. The final task in the production process is packaging the products (Hall, 2012).
These products are supplied to a number of different businesses including supermarkets and pub-chains through effective supply chain system. The use of effective supply chain system enables the firm to distribute the products at different places quickly. In this, all the employees, resources and activities are involved in the supply of the products (Jeston and Nelis, 2014). Along with this, there are 70 employees in the B Bakery so, human resource management is also a significant activity of the B Bakery. It is because there is a need to properly arrange the employee on the different activities such as production, accounting, marketing, supply and other activities. Inventory management is also a significant activity of the bakery business. It provides accurate information of the available store in the warehouse (Chang, 2016).
B Bakery also maintains its accounts to meet the issues related business accounting. It also helps the company to identify the cost of the production and determine the price of products. The accounting system enables the firm to find out the loss and profit over the year. It allows the firm to control the extraordinary expenses (Onaolapo and Odetayo, 2012). Instead of this, there are also some significant activities in the bakery business such as:
Thus, for running a bakery business effectively, there is required to take care of all the essential business processes.
Categories of Accounting Software
There are various categories of accounting software such as low, medium and high-end categories. As the B Bakery is one of the medium to higher scale business organisations, the medium category of accounting software would be effective to manage the accounting functions as well as other activities and processes significantly. It is because the medium type of accounting software supports the organisation to grow continuously at the time of increasing in size and complexity. The use of medium sized accounting software would also provide various features to B Bakery in terms of handling transactions in different currencies (Scot, 2010). Due to this, the firm can operate its business and financial activities in effective ways while achieving considerable profits in the national and international marketplace.
The medium type of accounting software is also suitable for B Bakery because this type of accounting software supports the firms to manage the other activities such as employee payroll, reports, stock, POS, and billing. It can support B Bakery to operate its business activities in smooth ways without any complexity. At the same time, the use of a medium type of accounting software is also effective for B Bakery in order to use the varieties of modules and interfaces (Hohpe and Woolf, 2012). Through this, the firm can effectively use the software from different operating systems, web-browsers and hosted solutions.
But, at the same time, it is also found that sometimes, the software in this category may be expensive that create an extra burden on the firm related to the finance. But, the benefits of the medium type of accounting software are high that mitigate the limitations. The use of a medium type of accounting software is also effective for B Bakery in terms of easily accessing the programs and data from anywhere and anytime, which will be supportive in taking informed decisions related to the business operations significantly (Granneman, 2011).
Compare and Contrast the Features of Two Accounting Software
In the medium category of accounting software, there are various accounting software vendors in Australia such as SAP, MYOB, Xero, Zoho, Sage and QuickBooks that offers different accounting software packages with different features and functionality for the businesses. In this, two accounting software packages such as Sage’s 50C and SAP’s Business One are selected under the medium category of accounting software (Lewis, 2014). It is found that Sage’s 50C is one of the reliable accounting software packages, which has different features and functionalities. One of the features of Sage’s 50C is that it easily access to built-in payment and payroll processing, which significantly support the firms to not only focus on the accounting transactions but also concern on employees’ engagement (Curtis, 2014). This feature can be effective for the firms to retain their employees for long-run.
In contrast to this, the use of SAP’s Business One accounting software is also supportive for the firm in terms of capturing all the business information in a single and scalable system. Due to this, the firm can receive information and data on time, which can be effective in making informed decisions related to the business growth. In comparison to Sage’s 50C, the Business One accounting software supports the small and medium size businesses by integrating all the business activities. Through this, firms enable to develop the effective database to meet the future needs and expectations easily (Broady and Roland, 2011). On the other hand, Sage’s 50C accounting software is feature-rich desktop accounting software, which is also accessible to mobile and generates invoices, expense management and automated bank feed to support the business at a great level (Kelly, 2012).
But, on the other hand, SAP’s Business One accounting software aligns with different 14 functional modules, which enable the firms to use this software effectively to deal with the business complexity. These functional modules include financials, sales opportunities, sales A/R, purchasing A/R, business partner, banking, payroll & HR, logistics, operations, CRM, resources, production, project management, and inventory. These functional modules cover almost all the typical functions of a business and support the firms to operate their business activities in easy ways (Okungbowa, 2015). Similar to this, one of the features of Sage’s 50C is related to the management of inventory and automated purchase orders, which enable the organisations to manage their inventory significantly. It also positively impacts on the profitability of the businesses, as they enable to save cost and time to manage their inventories (Kelly, 2012).
At the same time, Business One provides executives and managers with instant access to critical business information, which helps them to make informed and sound business decisions that also support in reducing the complex administrative work. Due to this, the firms also achieve smooth growth in the competitive business environment. In comparison to this, Sage’s 50C accounting software has the feature of managing project based work, which supports the firm to eliminate the guesswork significantly. In this, the accounting software is fully integrated with customers, vendor and employee modules, which significantly support the firm to track expenses and create budgets during the specific projects (Curtis, 2014).
Along with this, it is also found that both the accounting software can be operated through different operating systems such as Windows, Android, and Mac platforms, which enable the businesses to use this software effectively to make informed decisions related to the business growth. In SAP’s Business One, real-time reporting is one of the features that support the businesses to analyse the recent data and information on the basis of reports (Okungbowa, 2015). Due to this, the firms get accurate information about the business performance and make better decisions to provide growth to the business in the future.
After analysing the two accounting software packages such as SAP’s Business One and Sage’s 50C, it can be recommended to B Bakery that SAP’s Business One will be one of the best-suited accounting software. It is because through this software, the firm can easily focus on the different business functions and processes such as accounting & finance, sales & CRM, inventory and distribution, purchasing and operations real-time reporting, and mobility, which is not get by using Sage’s 50C as it mainly focuses on the accounting process within the firm (Broady and Roland, 2011). At the same time, the adoption of Business One accounting software is also best suited for the firm because this software supports the multi-currency transactions. It is found that the Business One supports for exchange rate changes for the specific transaction, which can be effective for B Bakery to expand its business operations and deal with the accounting complexities effectively (Curtis, 2014).
Along with this, the selection of Business One is also suited to B Bakery in terms of developing a better relationship with customers. It is because the Business One accounting software package integrates the CRM module as a part of the software functionality. It can enhance the ability of the firm to track activities, sales opportunities, campaign management and service contract. Due to this, the firm can develop the long-run and stable relationship with the customers by providing tasty bakery products and services to them (Okungbowa, 2015). At the same time, as the B Bakery is in its growing phase in which, the selection of Business One accounting software is most effective because, through this, the firm can effectively manage its inventories. It is because the Business One accounting software has the most up-to-date and in-depth inventory information module that can support the firm to take informed business decisions (Wisner, 2016).
SAP is also a most suited accounting software vendor for B Bakery because the vendor has different add-ons that can be effective in providing integrated accounting software package to the firm. Due to this, B Bakery can make effective reporting of financial data and information that can be supportive in making informed decisions related to the business sales and growth (Curtis, 2014). At the same time, the SAP’s Business One also has an effective, fast, and flexible database management system that performs well with a large amount of users and transaction volume. Through this, B Bakery can effectively expand its business operations and add new employees and other stakeholders to achieve business growth in the new and competitive business environment.
Through this software, the firm can effectively develop its different strategies and plans such as marketing, sales, production, supply chain and inventory management that can directly affect the business activities as well as work environment (Wisner, 2016). Due to this, the firm can effectively achieve the growth in the national and international business environment.
Along with this, for the B Bakery, the Business One accounting software is also suitable in terms of making a clear picture of the business operations. It is because this accounting software helps the firms in reporting and administration by creating managing and distributing reports (Wisner, 2016). Due to this, the firm can get a clear picture of the business that can also be supportive in making effective strategies, plans and decisions that can foster the business in the right way.
References
Abduljalil, K. and Zainuddin, Y. (2015) Intrinsic and Extrinsic Motivation as Attitude Factors towards Adoption of Accounting Information System (AIS) In Libyan SMEs. International Journal of Academic Research in Accounting, Finance and Management Sciences, 5(1), pp.161-170.
Becker, J., Kugeler, M. and Rosemann, M. eds. (2013) Process management: a guide for the design of business processes. Germany: Springer Science & Business Media.
Broady, D. V. and Roland, H. A. (2011) SAP GRC for Dummies. USA: John Wiley & Sons.
Chang, J.F. (2016) Business process management systems: strategy and implementation. USA: CRC Press.
Curtis, V. (2014) Bookkeeping Essentials for Dummies – Australia. Australia: John Wiley & Sons.
Granneman, S. (2011) Mac OS X Snow Leopardfor Power Users: Advanced Capabilities and Techniques. USA: Apress.
Hall, J.A. (2012) Accounting information systems. USA: Cengage Learning.
Hohpe, G. and Woolf, B. (2012) Enterprise Integration Patterns: Designing, Building, and Deploying Messaging Solutions. UK: Addison-Wesley.
Jeston, J. and Nelis, J. (2014) Business process management. UK: Routledge.
Kelly, J. (2012) Sage 50 Accounts For Dummies. USA: John Wiley & Sons.
Lewis, J. (2014) The Book You Need Before You Buy That Accounting Software: How Find, Buy and Implement the Best Accounting Software Solution For Your Business. Australia: Evolve Systems Distribution Pty Ltd.
Okungbowa, A. (2015) SAP ERP Financial Accounting and Controlling: Configuration and Use Management. USA: Apress.
Onaolapo, A.A. and Odetayo, T.A. (2012) Effect of Accounting Information System on Organisational Effectiveness: A Case Study of Selected Construction Companies in Ibadan, Nigeria. American Journal of Business and Management, 1(4), pp.183-189.
Scot, L. (2010) The Simplified Guide to Not-for-Profit Accounting, Formation and Reporting. USA: John Wiley & Sons.
Wisner, J. D. (2016) Operations Management: A Supply Chain Process Approach. USA: SAGE Publications.
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