Baking business activities encompass producing prolong foodstuffs such as meat, cakes, and bread with limited exposure to heat. B-Baking company is one of the business enterprises that operates its operations of producing foodstuffs that are considered consumable for a longer time.
B-Bakers Company is a family owned business organization, it has in operating for more than 50 years. The company has employed over 70 employees who have to play the central role to sustain and improve the company performance. The company has increased its revenue to more than $13 million during the past financial years. As the company revenues are increasing, it is noted that the company management is implementing on strategic management measures that will ensure that the company is attaining its goals and objectives, these strategic theories have been the basis of company success. B-Bakers Company has considered the relevancy of installing Enterprise Resource Planning components such as accounting information systems.
Enterprise Resource Planning is a strategic management approach where a business organization involves its operation to new information systems (Umble, et al., 2003). The business organization coordinates all the business activities. Accounting information system is an essential element of enterprise resource planning, it comprises using the new technology to coordinate the company financial transactions. Strategic information system provides information on how the firm’s financial resources are transacted and how they are being utilized to meet the company targets. B-Bakers Company has incorporated new accounting systems which are purposefully concentrated to provide the accounting information relating to all the departments, from production to sales (Sumner, 2007). The accounting system ensures that the company is harmonizing its financial resources as they determine the best price for their products.
B-Bakers Company operates many business activities that require the company to demonstrate its performance in the market in order to gain competitive advantage. The company activities comprise the process of evaluating the production materials and production cost used during the production process. Inventory evaluation techniques compel the business firm to invest on new accounting approaches (Bodnar & Hopwood, 2013). The application of new inventory techniques reliefs the business firm from making any losses, losing arising from the company are due to higher or lower inventory turnover.
The enterprise resource planning is a complex strategic management measure that activates as well as incorporating the application process of all the internal and external business activities of a business enterprise (Camilleri, E & Camilleri, 2017). The activation and incorporation of all the internal and external planned procedures provide a holistic realization and achievement vision and mission for the company. Accounting Information System is considered to be an essential element of EPR, the use of new accounting system have increased steadily because of its growing market in many business sectors. Consequently, the measure of data in many business organization has turned out to be essential compelling business enterprises to apply the new data management frameworks (Diatmika, et al., 2016). The procedure of utilizing the new data management systems embraces the importance of organizational management involving their management techniques to implement on Enterprise Resource Planning.
B-Bakers Company provides several types of product that are supplies to the targeted market. Wholesalers and retailers act as the intermediaries between the consumers and the company. The business requirement is simply what the business organization needs to do and not what to improve (Leon, 2014). The company is required to make relevant and specific obligation that will seek to accomplish the strategic missions and visions. The requirement should be based on what the company needs in order to produce the quality products that meet the customer demands in the targeted market (Miles, 2012).
B-Bakers Company is obligated to make critical decisions re-directed to navigate better business performance. The company is required to allow its employee to contribute in making comprehensive decision making, more specifically on deciding the installation of Enterprise Resource Planning. However, the company is required to implement the strategic measures that are relevant to its business activities (Dy & Halabi, 2007). Amongst is the implementation of adopting new accounting information systems. Adoption of new accounting information system contributes to the company financial success by reducing errors relating to financial transactions (Ward & Peppard, 2016).
Purchasing of equipment is considered the primary requirement for the company. B-bakers Company is required to ensure that the equipment’s to be procured and purchases are relevant to baking services, these equipments should not increase losses but rather increase the profits by utilizing the raw materials.
B-Bakers company is mandated to produce desirable products that costly friendly to customer. The outcome of producing the desirable bakery products is attained by allowing employees to contribute to decision making, especially in designing products such as cakes as well as increasing nutrient to meet the customer test. The company has to consider the fact that employees are the key stakeholders, they play a critical role in contributing the general business success (Dominici, 2009).
While working towards accomplishing its strategic goals as well as improving its baking reputation in the market, B-Bakers has to ensure that new information systems are well comprehended with regard to the business activities (Diatmika, et al., 2016). The strategic measures of adopting new accounting information system should be ordained and to be made as part of the company avenue to success. The top management at B-Bakers Company should use the accounting systems that reflect the business activities, especially systems that are used to determine the cost of material used during the production process. Cost reducing accounting systems allows the company to make relevant pricing decision to its product in the market (Dominici, 2009).
Accounting Information System embraces the general application of information technology (IT). B-Bakers Company is guided to invest in information Technology, this will allow the company to determine on the administrative systems that will aid in the accomplishment of strategic goals and objectives (Diatmika, et al., 2016).
Increase in profit making is one of the major company objectives, the accounting information system allows the company to conduct an accurate financial transaction that reduces errors. The process of reducing errors and frauds advocates the company management to involve their management procedures with the Information Technology approaches (Dy & Halabi, 2007). B-Bakers Company should invest in Information based accounting features this is by considering the relevant accounting packages (Camilleri, E & Camilleri, 2017).
Interoperability is a critical feature that the B-Bakers Company should focus while pushing its activities towards achieving its strategic missions and visions. Interoperability is described to be an element of accounting software that provides data used in different company department, the data obtained from the accounting package are considered to be the foundation of decision-making process (Edirisinghe & Perera, 2016).
The automatic update is a prime aspect that should be considered by B-Bakers Company while implementing on ERP strategic management approach. The company should consider selecting the accounting package that will provide the automatic data update, the updated information should reflect the general business production process (Ehie & Madsen, 2005).
Accounting software is outlined as the information application system that is used to record and process the financial transaction that is within the company financial modules such as inventory approaches, payroll systems, accounts payable and receivable (Kathy , 2016). Accounting application package is a key component of Enterprise Resource Planning in an organization, B-Bakers Company should consider different aspects during the selection of accounting package (Hall, 2012).
SAP accounting package offers several financial functions to the company, it provides the financial management capabilities. SAP accounting program empowers the business organization to understand the relevance of accurate accounting information (Kathy , 2016). SAP application package is a liberal element of ERP that enables the adoption of open communication channels within the organizational structures and departments (O’Leary, 2004). The software gives the business organization deceivability of harmonizing the financial process to reduce errors and frauds (Leon, 2014).
Xero accounting application is an accounting software developed in 2006 by Xero Company in Australia. Xero accounting package is an alternative QuickBooks accounting package, it has a unique feature of online service as compared with Intuit QuickBooks accounting software (Phillips, 2014). The development of Xero accounting software is considered the advancement of easing the activities of an organization. the application package has unique features and functionality that cannot be performed by other accounting software’s (Pfaff, 2016).
MYOB is an accounting package developed by a group of Teleware and Christopher Lee. The parent company of MYOB provides online service of hosting websites for SMEs in Australia and other parts of the world (Curtis, 2015). The accounting software provides accounting services relating to employee payroll system and inventory evaluation activities relating to B-Bakers production process (Neish, et al., 2009).
Enterprise Resource Planning is explained as the strategic management approach that allows the business enterprise to adopt the intergraded application and information system in their operations (Scapens & Jazayeri, 2003). B-Bakers Company is a developing business organization that seeks to develop the relevant solutions to the relevant business risk as well as sabotage factors preventing the company from achieving its strategic mission and missions. The company management is mandated to implement the Enterprise Resource Planning measures, as they will act as the pillars of the company success (Umble, et al., 2003).
Xero accounting software is an appropriate accounting system that suits a business organization that operates in different markets environment. Xero accounting package provides the variety of financial services including the payroll system, inventory evaluation techniques (Camilleri, E & Camilleri, 2017). However, Xero accounting software provides online accounting service where the Bakers Company can access its data and information at any time, thus consenting the top management to make an influential decision that related to the company baking activities (Kanellou & Spathis , 2013).
Apparently, Xero accounting package is suitable to be used by B-Bakers Company since it allows the management to diversify their decision to different departments. The application software allows the company to make a relevant financial decision since all the information obtained are from all the operating departments and division in the market (Knudtzon & Schmidling, 2006).
This section of the paper authenticates the functionality of accounting packages which are ascertained as relevant to the B-Bakers Company. Enterprise Resource Planning and Accounting Information System allows the business enterprise management to tail their discussion in making a well-standing decision and judgment that seeks to support the positive running of the organization (Laudon & Laudon,, 2016).
SAP accounting package is listed as the one of the familiar accounting packaged used by SMEs. It is an accounting software that provides several financial related services to an organization. It has remarkable features which give it to gain a competitive advantage in many business industries (Corbitt & Mensching, 2000).
SAP is an accounting package that supports global marketing principles, it allows a business enterprise to operate in the different market using different language and currencies of distinctive versions. B-Bakers Company is noted to have conducted its business activities for 50 years, the company is expected to expand its market to different countries which used different language and currencies. The SAP accounting package will allow B-Bakers to operate in different regions, as language is also considered a primary element that the package will provide solutions to (Buyya, et al., 2009).
SAP is an accounting software that entails solution to core financial transactions conducted by the company management. The package allows the company financial executive to synchronize the financial transaction one by one, therefore aids in making the annual financial reports for the company. The management of B-Bakers has the mandatory of advocating in the administrative system that will aid in positive coordination of company management functions. The implementation of the administrative system should comply with the international accounting theories (Diatmika, et al., 2016).
SAP is a key component of Enterprise Resource Planning and Accounting Information System adopted by the SMEs, the accounting package has the ability to improve financial operations of the company, customer relationship, procurement and supply procedure. The package defines the functions of human resource contribution towards achieving the strategic goals and objectives of the company.
SAP Accounting Software plays a key role in an organization, especially SMEs that operates in different markets. The accounting package covers the major business needs from the financial management to improve the company customer relationship. However, SAP accounting package provides a clear framework that is used in managing and observing stock for the company. B-Bakers is advised to adopt SAP accounting package which allows the business enterprise to get accessed to scalable business standards, giving the company an opportunity to gain its competitive advantage in the market (Dy & Halabi, 2007).
As compared with SAP accounting package, the Xero accounting software has specific features that resemble those of Intuits QuickBooks Accounting software. Xero accounting application is an element of ERP that is widely used by SMEs in the current business market. The package vendor is commonly used by SMEs because it provides online financial service. Xero provides the company to keep its information until up to data, the information is used in the decisional making process (Buyya, et al., 2009).
Xero accounting package widely applied accounting application in the market, it has ample bookkeeping features that allow it to be used in the business market. Xero accounting package allows the business organization to access the latest business accounting information which is accurate, the obtained information will act as the foundation of decisions to be made by the management (Dy & Halabi, 2007).
Xero accounting package is considered as a noble element of the accounting system with exceptional accounting features, the package allows the company to connect its financial transaction with bank accounts. The accounting package
Xero accounting package is considered to be the leading software which used by operating business organization which operates it business activities using the internet. Xero software possesses a unique and noble feature which allows the company to connect its transaction with bank accounts; Xero accounting software automatically synchronizes banks accounts with the latest banking services such as credit cards and PayPal transactions.
Xero accounting package allows the company to connect with its customers, the accounting package allows the company to create an exceptional and professional invoice as well as providing an even schedule.
Xero Accounting Package plays a key role in the company decision making, the online services provisions allow the company to access its historical financial performance which is used to determine the market position of the company (Bodnar & Hopwood, 2013). Therefore, the Xero accounting Package allows the management to make the comprehensive decision by considering the historical performance of the company.
Enterprise Resource Planning enhances the accomplishment of company strategic goals and objectives. B-Baking company is considered a small business enterprise that needs to improve its products and services, the top management has the mandate of responsively implementing the strategic accounting frameworks that suit the current market activities. Adopting the best accounting application for the company will improve the company activities in the market, and thus allowing the company to competitive advantage over the other market players (Katz & Green, 2009). The automatic update of the data by the software shows that the software is appropriate accounting package which allows the accomplishment of strategic objectives of the company. Updating the company operates on the daily basis of the company activities allows the company to cope with any changing aspects of the market environment. The dynamic change in internal and external business environment compels the company to new accounting framework, where Xero accounting package becomes the basic essential of the new accounting system.
Xero Accounting Package is the leading accounting application in the market, it is widely applied by Small Business Enterprises The B-Bakers Company is advocated to utilize the software features, the vendor will seek to enhance that the company is having an up to date data that will be used in the decision-making process. The accounting package is also costly friendly, it is inexpensive compared to other competing accounting packages. It is also easy to be used and not complex as compared to Intuits, Zoho, and MYOB accounting applications (Bodnar & Hopwood, 2013).
Xero accounting package offers multiple financial services such as payroll system and inventory evaluation. Payroll system allows the company to use the limited time while determining on employee salaries, the system also reduces the sabotages generated ghost workers. The inventory evaluation allows the company to evaluate on effective cost reducing approached that will ensure that the available material is utilized to meet the company produce targets. As the dynamic changes in internal and external business environment of the company are experienced, Xero accounting package is standing as a unique accounting component used to adapt the changing business environment (Laudon & Laudon,, 2016).
Conclusion
Enterprise Recourse Planning is defined as umbrella strategic management approach that determines the accounting information systems and packages to be adopted by a business organization. B-Bakers Company is recommended to implement on Enterprise Resource Planning policies and measures.
Accounting information system is an essential aspect of Enterprise Resource Planning. It comprises the process where a business organization is primarily changing from using paper based accounting process to technological accounting systems. Accounting information system entails the adoption of accounting packages such as Xero, Intuit QuickBooks, MYOB, and SAP. B-Bakers Company is a business organization that has been operating its business activities for 50 years, the company is advised to select the best software vendor and installed the application software that is relevant to its business activities. The selection of accounting packages should depend on the different feature such as adaptability, automatic update, and Interoperability
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