Discuss about the Strategic Information Systems Of Macquarie.
The main focus point which is considered in the report is the role of an Accounting information system which is used by the companies which are located in Australia. The concept can be helpful in the aspect of enhancing the sector of operational performance and activity which is related to the organization (Jebreen 2014). There are many tools which can be used in the structure of the organization which can be used to enhance the business. It can be considered to be a tough task to select among the tools which would be beneficial for the organization. One of the aspect which play a role is whether the new system would be completing replacing the existing system or would be placed over the existing system. The new system can be stated to be complex which would be requiring support from IT experts to indulge into the working of the system.
The Macquarie’s Organizational Structure is basically divided into five groups. The non-hierarchical structure of the organization which includes global chief officer of operation, managing director, head of operation group of Macquarie including the risk management head directly contribute to the managing aspect of the organization. The following chart gives an overview of the organization structure which is involved into the organization.
Relating to the topic of operational problem (Jebreen 2014) have put forward their opinion that “the different groups strive to place a particular person in charge who are committed and competent to the aim of the group”. There are chances that different types of problem may occur in the process of the organization which can change the factor of efficiency and errors which are human related. The factors can be listed as: the different types of task that members have to conduct, problem which are related to technology, selection of the main leader, power affecting of corruption, motivation which is related to the organization. All the tasks which are stated should be done in a timely manner within the organization on the other hand it should be also predictable and easy for the leaders which would also be motivating the other employees in this context. The commitment of the group can be very much important which would be directly helping the organization to thrive to the factor of success, improving leadership style and decision making capability both from the point of view of the individual and management. (Islam et al. 2012) stated that the concept of corruption can directly hamper the overall functionality of the organization which would be creating a barrier in the concept of the achieving the objectives of the organization. It can be stated that empowering a person with too much power can make him or her selfless, this mainly means how a leader can directly misuse the different types of power which is given to him and involve themselves in the concept of manipulating other employees.
ERP (Enterprise Resource Planning) can be considered as one of the most trending aspect in the developing of the organization (relating to the technological aspect). This concept is achieved by the means of support in the field of operation in the organization. (Kanellou, and Spathis 2013) puts focus on the concept of the data acquisition process which is related to the system of production in competitive and globalized economy relating to the organization. The concept of acquisition method can be classified to directly explain the benefits that can be attained from the implementation of the ERO system into the working of the organizational preexisted system. It can be stated here that the implication of the data acquisition when relating to the system of production (not automated) can be more difficult than the production system which is automated. (islam et al. 2012) future puts limelight on the topic by emphasizing and stating that the identification system which is automated are the sources of the data (parallel to the concept of the primary source of the data) or are the control system of the organization. Various type of identification system which are automated play a vital role in the overall working of the organization with a focus on the gaining access to the acquisition of the data that is not achieved within the element of the industry automation and control system.
The concept of ERP can be considered as efficient, innovative and management system which is effective, but it can be stated here that there can be certain types of fraud which can be included into the concept. The frauds can directly hamper the overall performance and the reputation of the organization which is related to the personal use. As stated by (Clegg, Kornberger and Pitsis 2015) the frauds which can be involved into the sector may involve the following points which are related to the implication of the ERP system.
Fraud 1: False invoice payment – any of the user who indulge into the activity, creation and payment of invoices can be considered as a fraud within the organization.
Fraud 2: Misappropriation – if any of the user indulge into approval of purchase and purchase order can be considered as a type of fraud which is related to the data manipulation.
Fraud 3: Non Purchase payment – If the same user gets involved into the concept of any one of the activity relating to purchase of goods or good received can also be termed as fraud activity within the organization.
Fraud 4: Anonymous vendor payment- Another sector which can be stated here is the anonymous vendor payment. This concept mainly include the sector of taking care of both creating (modifying vendor master card) and creating invoices directly to the vendor can also be considered as a fraud ant activity.
Fraud 5: Anonymous customer payment – This type of activity mainly involve creation and the modification of the records of the customer and granting the credit to that particular customer by the single user can also lead to fraud cases in Macquarie (Lindahl et al. 2017).
There are different beneficial aspects and factors relating to the accounting software package which has increased the adaptation of the packages within many of the organizations working. The main factors which are responsible for the aspect of adaptation of the accounting software packages can be subdivided into basically four groups which are as following:
The concept of information technology can be considered as one of the most important sector in recent times which are directly attracting the attention of various researchers to put forward the research in that particular field. It can be stated here that most of the researchers put forward various factors of motivation for the aspect of the adaptation of the accounting software system packages into the organizational system. These type of packages can be directly used to promote the organization to do several types of calculation in a short period of time with complete aspect of accuracy and also facilitate the aspect of service related to cloud storage. This concept can be considered to be a very important factors for most of the organizations (Boulianne 2014).
Accountants are placed in any organization to provide the application of the accounting software in a way which directly supports the process of transaction between the organization and the client. The accounting software package application in any organization helps the accountant to directly manage the application of all the transactions related activities in a more efficient manner and also effective by means of no effort. Taking into consideration the aspect (Allison and Goethals 2013) proposed a recommendation related to the use of CAS adaptation for developing the accounting system in SME’s activity of business. It can be stated here that the adaptation of the CAS would be very much influential for the accounting firm to be perfect in their field of operation activities. On the other hand it can be stated that this can directly helping the organization to implement innovative and latest computerized implementation of the software relating to accounting. The aspect of accounting software package can be also beneficial for the manager in getting an idea of the extra ordinary capability of the accountants that could be achieved by this innovation implementation. Targeting directly the market the MYOB accounting software can be considered to be a trending software that is being spreading among all the business including the sector big industry in Australia and the SME’s covering basically all the areas which could implement the application. The sector which can be included into the aspect are the small business, banking, real estate and many more.
There are different type of competitive advantage which can be associated with the concept of accounting software package in an organization. This could be very much helpful in the concept of achieving the goals towards the competitive market by means of increasing the productivity and providing an accurate calculation within a short period of time. The factors which can be included into the aspect are stated below:
Greater speed of input: The concept of putting the data into the database can be done very much easily and faster comparing it with normal paper entry. This comparatively saves more time and the person can concentrate on other task which would be more beneficial for the organization.
Anywhere and anytime access: Accounting software packages allow the user to access the operational data which is conducted on the application that must be provided by the service package. It can be stated here that an employee at work place or doing travel can access the data.
Cost reduction: It can be considered that the system is very much cost effective and no extra payment are involved in the concept of maintenance or service. The cost effective can also be achieved due to the factor that the service is given and operated online.
Greater efficiency: The concept can be very much accurate and the calculations if all the transaction can be clients, contractor and partner.
One of the most concern sector which can be related to the concept of the accounting software package is the security issue. Recently based on a survey 48% of the advisors of the security stated that the security aspect implication of the accounting software package in the pre exiting system or the new system. In order to use the accounting software there must be proper training involved into the process. Many of the organization are addictive to the traditional system and they do not want to use the advantage of the technology into their working.
Conclusion
The report can be concluded on a note that an organization can directly enhance its performance by means of indulging into the system. Any type of organization can implement the technology and can take advantage of the concept. MYOB can be considered as a great competition to any organization providing the escalation and providing by providing the innovative and new service. On the other hand one more technology which would be beneficial for the organization can be the aspect of cloud computing.
Recommendations 1: The MYOB software can be considered as one of the perfect software for accounting software package for the organization.
Recommendations 2: This software can be very much effective in a way which enhances the performance which would be objective and goal oriented.
Recommendations 3: In order to gain advantage form the software training must be given to the employee so that they can take appropriate result form the concept.
Recommendations 4: The software can be implemented over the existing predefined structure of the organization it must be seen that the alteration of the existing software is not done in any way which would hamper the working of the entire organization.
References
Allison, S.T. and Goethals, G.R., 2013. Heroic leadership: An influence taxonomy of 100 exceptional individuals. Routledge.
Bies, R.J., Barclay, L.J., Tripp, T.M. and Aquino, K., 2016. A systems perspective on forgiveness in organizations. Academy of Management Annals, 10(1), pp.245-318.
Boulianne, E., 2014. Impact of accounting software utilization on students’ knowledge acquisition: An important change in accounting education. Journal of Accounting & Organizational Change, 10(1), pp.22-48.
Clegg, S.R., Kornberger, M. and Pitsis, T., 2015. Managing and organizations: An introduction to theory and practice. Sage.
Islam, A., Corney, M., Mohay, G., Clark, A., Bracher, S., Raub, T. and Flegel, U., 2012. Fraud detection in ERP systems using scenario matching. Security and Privacy–Silver Linings in the Cloud, pp.112-123.
Janvrin, D.J. and Watson, M.W., 2017. “Big Data”: A new twist to accounting. Journal of Accounting Education, 38, pp.3-8.
Jebreen, I., 2014. Packaged software implementation requirements engineering by small software enterprises: an ethnographic study (Doctoral dissertation, Auckland University of Technology).
Kanellou, A. and Spathis, C., 2013. Accounting benefits and satisfaction in an ERP environment. International Journal of Accounting Information Systems, 14(3), pp.209-234.
Lindahl, E., Hess, B. and Van Der Spoel, D., 2017. GROMACS 3.0: a package for molecular simulation and trajectory analysis. Molecular modeling annual, 7(8), pp.306-317.
Mas, J.F., Kolb, M., Paegelow, M., Olmedo, M.T.C. and Houet, T., 2014. Inductive pattern-based land use/cover change models: A comparison of four software packages. Environmental Modelling & Software, 51, pp.94-111.
Mas, J.F., Kolb, M., Paegelow, M., Olmedo, M.T.C. and Houet, T., 2014. Inductive pattern-based land use/cover change models: A comparison of four software packages. Environmental Modelling & Software, 51, pp.94-111.
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