Information system had become a crucial aspect of the implementation of the software processes and development of the organization. It is important for keeping the data and information in line with the operations of the organization (Christauskas and Miseviciene 2012). The development of the processes had been largely induced by the use of accounting software packages. It had been largely developed for the alteration of the business organization.
The following report had been made for evaluating the Wesfarmers Organization and software accounting package. There are two parts of the project and it includes the discussion of the organization of Wesfarmers and the second part is the analysis of the MYOB accounting software package for Wesfarmers.
The organization of Wesfarmers consists of a number of stakeholders that forms the development and carrying out of the operations in the organization. The list of stakeholders in the organization had been given below,
|
Name of the Person |
Designation in Wesfarmers |
|
Richard Goyder |
Managing Director Wesfarmers |
|
Rob Scott |
|
|
Terry Bowen |
Finance Director Wesfarmer |
|
Anthony Gianotti |
Finance Director Industrial |
|
Olivier Chretien |
Business Development Manager |
|
Tim Bult |
|
|
Stewart Butel |
|
|
Tom O’Leary |
Table 1: List of stakeholders in Wesfarmers Organization
(Source: Wesfarmers.com.au. 2017)
The table had shown that the most important designations of the Wesfarmers include managing director Wesfarmers, managing director industrial, finance director Wesfarmer, finance director industrial, business development manager, associated businesses director, resources managing director, and WesCEF managing director. The names of the individuals in the organization at the posts mentioned are Richard Goyder, Rob Scott, Terry Bowen, Anthony Gianotti, Olivier Chretien, Tim Bult, Stewart Butel, and Tom O’Leary.
Figure 1: Organization of Wesfarmers
(Source: Wesfarmers.com.au. 2017)
The structure of the operations had been divided into two parts namely retail and industrial. The retail section consists of Coles, home improvement and office support, target, and Kmart (Christauskas and Miseviciene 2012). The industrial section includes the services of insurance, resources, chemicals, energy, fertilizers, and industrial safety.
The hierarchical structure had shown the two divisions of post of operations in Wesfarmers namely Managing Director Wesfarmers and Managing Director Industrial. The finance director of Wesfarmers and its industrial division would respond to Managing Director Wesfarmers and Managing Director Industrial respectively (Dubinina and Boyeva 2014). The Business Development Manager and Associated Businesses Director would have to report to the Finance Director Wesfarmers whereas the Resources Managing Director and WesCEF Managing Director would report to Managing Director Industrial.
The hierarchical organizational structure of Wesfarmers allows one way conversation for the employees of the Wesfarmers. The operations of the organization are largely dependent on the structure of the organization. The development of technology had formed major modifications and the development of the operations. It is important for keeping the operations in line with the technological development. Some issues of the organizational structure are,
Delay in Operations: The organization of Wesfarmers is dependent on the hierarchical structured operations (Dubinina and Boyeva 2014). The delay in operations had been causing major fluctuations in the smooth operations of the organization. The important and sufficient functions had caused the outbreak of the delay due to the issue of delay in proper handling and authorization.
Decrease In Profitability: The profit revenue had seen a major downfall in the operations of the organization (Gebhart, Glines and Foss Jr 2013). The organization had been facing major issues for the profit generation. The operations of the organization had not been as fruitful and compact as it should have been. The development of the organization structure had proved to be agile. However, the organization had seen major break from the incrementing profit.
Attrition rate: The organization of Wesfarmers had been facing issue of employee attrition due to the lack of proper motivational theories and recognition (Gogus and Ozer 2014). The employees had been facing some problem due to the lack of recognition and rewards for their good works. They had been resigning from their jobs and it had resulted in high rate of attrition of employees in the organization.
Enterprise Resource Planning implementation should be followed for the system acquisition in Wesfarmers as it would be easily implemented and developed for the operations (Gebhart, Glines and Foss Jr 2013). The ERP system would be helpful for the modification of the operations and development of the plan in the organization. The system acquisition would be helpful for the management of the major components of the organization. The deployment of the ERP system would help in easing the functions of the organization and development of the plan. According to Gogus and Ozer (2014), the processes of customer data management, payroll system implementation, records of sales and purchases, invoicing system, and management of cash flow would be easily done by the help of ERP system deployment.
The sales process of Wesfarmers can be understood by considering the process of the sales in retail sector of Wesfarmers. The process of retail’s sales includes the sales through Kmart and store sales (Hui and Chang 2016). The processes had been divided into two parts and the use of integrated ERP system would help in developing the processes of the organization. T
The control problems and frauds in the operations of Wesfarmers are influenced by the use of retail technology and system. The issues are,
Threats of security: The threats of security would be a major flaw in the operations of the organization (Hui and Chang 2016). The major threats of the security include the external infiltration and the probabilities of system being hacked into.
Complexities: The complexities of the operations are influenced by the design of operations in the organization (Liu and Dong 2013). The operation’s complexities would result in harming the flow of operations in the organization.
The accounting software package had been developed and modified with the requirements of the various business organization of the world (Liu 2015). Christopher Lee had founded the MYOB software packaging services for the accounting software operations of the organization. According to Curtis (2015), the birth of the software package was in late 1980s and later on, in the year 2009 it was modified to a private company.
The current market of the accounting software package had been influenced and divided into three major accounting software packages namely MYOB, Xero, and Reckon/Intuit. MYOB currently owns 75% of the total market (Ozdemir and Elitas 2015). The other market competitors had been trying to extend their operations. The benefits of the MYOB include the automation of the accounting information system, balancing the accounts, accuracy of the operations, and automatic production in the operations.
The various leaders of the accounting software package in the market are XERO, MYOB, Intuit, Reckon, Saasu, and others (Quinn and Kristandl 2014). The development of the operations had been largely helpful for the modification of the usage of the various software packages in the organization. The market of Australia had been divided among these software packages. Many organizations had been using the MYOB for their business operations and accounts related functions.
The deployment of the software accounting software would ease the processes of the transaction management, customer data management, payroll system implementation, records of sales and purchases, invoicing system, and management of cash flow for Wesfarmers (Rahman et al. 2014). The issues of the deployment of the MYOB are,
Complexity of the implementation: The complexity of the implementation of the accounting software had been resulted due to the high scale of implementation method.
Scope of Failure: The implementation of the MYOB is subjected to the occurrence of failure and not being compatible with the operations of the organization.
Security Issue: The security issue had been largely induced by the external infiltration in the system. The security issue had been resulted by the lack of the network infiltration in the system.
Some recommendations have been given below for the modification and the development of the ERP system and its implementation,
Alignment of Data Security Measure: The alignment of the data security measure would be helpful for the formation of the improved ERP system. The data security is s primary concern for the implementation of the ERP system.
Simpler Operations: The improvement of the simpler operations for the implementation of the ERP system would help in easing the processes of the organization. The deployment of the simpler operations would help in decreasing the probabilities of the complexities in the organization.
Conclusion
It can be concluded from the assignment that the accounting software packages play a crucial role in the improvement of the operations. The operations of the organization are largely dependent on the structure of the organization. The development of technology had formed major modifications and the development of the operations. The issues that Wesfarmers had been facing due to its organizational structure are, delay in operations, decrease in profitability, and attrition rate. The study had shown that the current market of the accounting software package had been influenced and divided into three major accounting software packages namely MYOB, Xero, and Reckon/Intuit among which MYOB currently owns 75% of the total market.
References
Christauskas, C. and Miseviciene, R., 2012. Cloud–computing based accounting for small to medium sized business. Engineering Economics, 23(1), pp.14-21.
Curtis, V., 2015. MYOB Software for Dummies-Australia. John Wiley & Sons.
Dubinina, M. and Boyeva, O., 2014. Development of Accounting Policies of Agricultural Enterprises. Accounting and Finance, (4), pp.17-23.
Gebhart, B., Glines, S.M. and Foss Jr, S.H., Norse Corporation, 2013. Systems and methods for integrating accounting software and payment processing systems. U.S. Patent Application 13/803,868.
Gogus, C.G. and Ozer, G., 2014. The Roles of Technology Acceptance Model Antecedents and Switching Cost on Accounting Software Use. Academy of Information and Management Sciences Journal, 17(1), p.1.
Hui, Q. and Chang, S., 2016, March. Accounting Safety System in E-Commerce and Its Application. In Measuring Technology and Mechatronics Automation (ICMTMA), 2016 Eighth International Conference on (pp. 63-66). IEEE.
Liu, X.L. and Dong, J., 2013. Accounting Software Application Problem Analysis. Journal of Jilin Institute of Architecture & Civil Engineering, 2, p.034.
Liu, Y., 2015. The Design and Implementation of the Project Accounting System.
Moghaddam, A.G., Yazdanpanah, F., Salari, M., Rahimzade, H.S., Shadmehri, I.F. and Razavi, S.M., 2014. EFFECT OF INFORMATION TECHNOLOGY ON THE RELIABILITY OF ACCOUNTING INFORMATION. Journal of Current Research in Science, 2(3), p.346.
Myob.com. (2017). Accounting Software & Business Solutions | MYOB. [online] Available at: https://www.myob.com/au [Accessed 17 Apr. 2017].
Özdemir, S. and Elita?, C., 2015. The Risks of Cloud Computing in Accounting Field and the Solution Offers: The Case of Turkey.
Quinn, M. and Kristandl, G., 2014. Business information systems for accounting students. Pearson Education Ltd..
Rahman, M.M., Elahi, T.E., Gupta, S.K. and Rahman, I., 2014. Assessment of Accounting Software Practices in Small Medium Enterprises (SMEs) of Bangladesh: A Survey of Barrier and Adoption (Dhaka City). International Journal of Management Sciences and Business Research, 3(4).
Wesfarmers.com.au. (2017). Home . [online] Available at: https://www.wesfarmers.com.au/ [Accessed 17 Apr. 2017].
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