In the current time of globalization, the use of information systems, technologies and software/tools had increased due to advancement in the technology and systems. In addition to this, today, a lot of information systems, accounting software, and other technologies are used by business firms and organizations in order to run their all the business functions and operations more accurately, smoothly, innovatively and effectively. These software or application helps the organizations to make strategic decisions and cut the overhead costs within their current business process and methods. For case, various accounting software/packages are utilized by today’s companies as a source of competitive advantages in order to compete in the market and support business process and strategies. This indicates that, these software applications help the companies in attaining core and fundamental objectives of the organization.
This research report is conducted in order to evaluate the impact, and roles of information systems such as accounting software in addressing the business challenges and improving the current and future performance. Additionally, this research study has wider scope for the further research in the area of accounting software/application/packages. In addition to this, it is also important to know that, with regards to this research study, Bakery Business is selected as a case study in order to address and solve the questions of the research paper. Moreover, this research study is characterized with significant purposes/objectives that are listed as below:
To define and explain the business processes of a bakery business along with their key functions and activities
To develop business requirements about AIS/ERP or accounting software of bakery business by addressing indispensable business functions of bakery and access the outcomes
All these objectives would be attained throughout the study of this research report in order to reach a more valid conclusion & outcomes.
A baker is an individual representative who makes and offers saltines, scones, rills, bread, treats, biscuits, baked goods, pies by the oven and other distinctive warmth source. Baker is a sales representative who connected with the business of bakes and breads. The bakery proprietor needs to work as per the tight schedules of production. The business exercises or process identified with bakery begin from collecting the raw material or unfinished goods e from the nearby place or market and after that makes these crude materials in completed items/products to the end shoppers (Jain, and Malehorn, 2005)
These items arranged as a rule from the feast or flour. The bakery shop business is also manages the way toward cooking by dry warmth and various types of oven. Additionally, a bakery shop entrepreneurs is offers and promote their items/ services to different general store, retail outlets and pub chain. Along with this, the bakery entrepreneur had focused on all the types of customers with the distinctive items needs. The items are produced at kitchen and sold to different organizations, shops, retail chain outlets. A bakery business is additionally described with various process, for example, sales & marketing, human resource, finance, accounting, and value and supply chain. The accompanying given outlines is demonstrates the business procedure required in the pastry shop business. In addition to this, the owners of the bakery directly sell their products to the end users. This helps the customer in saving their costs and time effectively. The following given diagrams is shows the business process involved in the bakery business (Manresa, 2010).
Premise of the above stream diagram and pictures of business procedure of the bakery business, it is observed and analyzed that, all the business exercises/procedure of a bakery shop business is essential and critical. For instance, production, SCM, HRM, Finance and Accounting are the major and fundamental indispensable functions inside the organization. Accounting as well as finance is standout amongst the most important and critical part of bakery shop business as it helps the organization in making benefit and it is a key to accomplishment for bakery. In the present time, there is a quick development and advancements could be found in the bakery business. However, from the last couple of time, the entrepreneurs related with the bakery shop are confronting a great deal of significant issues, difficulties and problems in the zone of finance and bookkeeping. For case, the entrepreneurs need to contribute additional time on enhancing the bookkeeping capacities inside the organization (Woodburn, and McDonald, 2012).
They need to contract a group of knowledgeable, proficient and experienced bookkeeping experts and specialists so that that they can comprehend the business and take particular actions for the achievement of bakery business. Moreover, bakery shop proprietors also need to spend significantly more cash, time and endeavors to contract such expert or specialists that are exorbitant for the proprietors. In addition, these experts couldn’t take techniques choices, aggressive actions and make key plan for the bakery business. They can do just basic bookkeeping undertaking for the business. Therefore, bakery business firms are required ongoing data keeping in mind the end goal to run business works easily and precisely. Along with this, the owners of the bakery must also focus on understanding the impact of external forces on the business. Moreover, all the information about the use of new systems should be collected in the advance in order to overcome future business issues and challenges in an effective and proper manner. In addition to this, the owners must also address the implementation costs and future issues or problems such as repair and maintenance costs in order to overcome and deal with the potential issues (Reuvid, 2011).
The given case plainly demonstrating that, the bakery firm is confronting diverse bookkeeping issues so the organization is required to use and execute accounting software keeping in mind the end goal to run business works all the more viably. Bakery is likewise losing its client base since it had bombed in creating the items at the lower costs and aggressive cost than others. In this way, the organization would need to concentrate on contributing on the utilization of accounting packages. This software application would enable the organization to bring development inside its present bookkeeping process. This software would likewise help the organization to defeat hierarchical inside the bookkeeping procedure or practices by offering continuous data. This would likewise enable the organization to control and mange overhead expenses and enhance client base and benefit. Generally speaking, this software of accounting would help the organization in offering of clear view about the present and future budgetary position and solid of the association (Stair, and Reynolds, 2011).
The bakery business ought to include and consider the functionalities, services, components and features of the conceivable accounting software to achieve authoritative IT venture targets. For example, first the bakery shop firm should comprehend the positive and negative effect of accounting software on the present and future business execution. The bakery shop firm should consider both the angles before utilizing any product of software. Additionally, the entrepreneurs ought to break down the cost, advantages and openings related with the software. Keeping in mind the end goal to comprehend these variables, the organization would need to lead money saving advantage investigation. The Bakery shop firm ought to likewise assess the significant parts that would be played by the new accounting software in the aggregate achievement and enhancing the efficiency of the firm. For instance, the proprietor of bread shop firm would need to get to the speed, precision and different elements of the conceivable bookkeeping or accounting software (Rainer, and Cegielski, 2010).
In addition, bakery firm ought to likewise need to break down that how the new framework or software would help the organization in securing its money related, bookkeeping, examining and other data and information in a more imaginative and efficient way. Bakery firm ought to dissect how these new frameworks would help the firm in decreasing the overhead expenses by limiting hierarchical wasteful aspects. The proprietor of bakery firm would need to break down the motivational parts that would be played by the accounting software. For case, it needs to get to that, how the product would urge the whole staff to achieve long haul objectives and destinations of the firm. Capacities and parts of such software in planning and creating monetary proclamations would need to dissect. It implies the speed; precision and timing related elements of accounting packages would be considered with a specific end goal to achieve the IT speculation destinations. The Bakery business would need to research that how the new frameworks would assume a key part in upgrading the administrative choice capacities of the staff of the firm. Furthermore, the organization ought to likewise utilize such bundles to create bookkeeping exchanges viably and appropriately (Turner, and Doty, 2007).
In the present time, right now, in the Australian programming industry, MYOB, SAP and Xero are the major and driving players in the business. These sellers are providing an extensive variety of applications, tools and software to the clients with the goal that they can defeat business issues and enhances their productivity. The following table is reflecting the major vendors, software and their key functions and functionalities:
|
Name of Software |
Description about major Vendors |
Categories |
Functions/Services/Functionalities |
|
MYOB |
In the Australian programming market, MYOB is the biggest and greatest organization in term of piece of the overall industry and aggregate benefit that is putting forth an extensive variety of programming applications. This product is more viable in term of giving continuous information, exactness and speed, cost cutting, spurring staff and diminishing disappointment |
Low/ Medium |
Used to perform distinctive business capacities identified with bookkeeping, fund, tax assessment, charging and so forth (MYOB. 2017). This software package is composed by the MYOB for the little and medium estimated business firm not substantial organizations |
|
SAP ERP |
In offering of big business application programming programs, SAP is one of the best and driving organizations with the most noteworthy market capitalization rate than others. This SAP application is generally utilized by the corporate customers or clients, for example, business firms. The product utilization of SAP gives consistency of data through the frameworks (SAP 2017). |
High-End/ERP |
It permits client associations speak with their clients or partners and fulfill their necessities More profitable programming that enables the organizations to oversee and control the business capacities identified with the production network administration. Highly integrated software |
|
Xero |
It has greatest market an incentive in the business that gives cloud based bookkeeping applications to the clients. This is an organization of New Zealand that is likewise working in Australia to tackle the mind boggling business issues identified with bookkeeping (Xero 2017). |
Low and Medium |
The product of the organization takes a shot at the utilization of software as a service (SaaS) model. This application is enables the clients to direct investigation about the money related execution successfully |
In view of the above table, one might say that, the software with Low/Medium classification, for example, MYOB would be reasonable and fitting for the Bakery business according to its size, needs, and business issues. For instance, the Bakery business couldn’t utilize SAP since it is appropriate for the expansive organizations and bakery is a little medium firm. In addition, in term of cost, SAP would be all the more expensive for the organization so it would not be moderate by the Bakery Company. Also, SAP could be utilized to run capacities identified with production network yet the Bakery is confronting the issues inside their bookkeeping capacities. XERO can’t be utilized by the Bakery business in light of its restricted capacities, elements, administrations and functionalities. This would not bolster the bookkeeping and money related elements of the Bakery business. MYOB would be best programming for the organization in term of necessities, costs, level, capacities, components and administrations (Jain, and Malehorn, 2005).
The following given below table indicates the main differences and similarities among the Xero and MYOB
|
Major Differences in term of functions/services and Functionalities |
Similarities |
|
|
MYOB |
Xero |
|
|
Ø MYOB is all the more effective programming application that helps the clients to lead and perform most complex business assignments related with the bookkeeping, fund and inspecting Ø MYOB is additionally enables the client to perform everyday undertakings all the more precisely, adequately and imaginatively Ø The benefit given by the MYOB depends on cloud server that has capacity to run different capacities in a solitary time. Different choices are given by the organization to clients in light of the cloud desktop. Ø It is greatly improved Ø It has greater capacity to beat business difficulties and wasteful aspects in a well and compelling way. Ø It is additionally more compelling and effective apparatus than the Xero on the grounds that nobody can get to the data through the un-approval prepare Ø Free from hacking, misrepresentation and different issues Ø Gives more prominent help with move down administrations Ø In term of support, it is additionally viable in light of the fact that the client can get help through the phone or messages. Ø In term of cost, MYOB is not costly |
Ø Xero accounting software has capacity to offer an entire picture about monetary strength of an organization Ø With the assistance of XERO, the capacities identified with the production network, bookkeeping couldn’t be performed well Ø XERO assists the clients to viably direct business capacities. Furthermore, as speed, exactness and dependability Ø Xero is worse for every one of the organizations It requires more time and efforts to implement and execute within the company so business firms understand all the aspects before using this Ø It do not provide such services Ø It is used for the limited functions by the companies or organiations Ø Third party can access information easily through the Xero Ø It may hack the data and other information Ø Xero is not gives any go down administrations and capacities Ø Xero don’t give telephonic help or support to the clients Ø It is more costly |
Ø Both the product application is utilized for a similar reason for a similar level of organizations Ø Both the Ø product can be utilized to run business and bookkeeping capacities all the more inventively and adequately Ø Both have capacities to address and settle business issues in a more powerful and viable way. Ø In term of support, both the companies are offering technical support assistance to their clients Ø Business firms could access their financial stenghs and position by using both the types of software Ø Both are innovative tools to conduct funtions. |
In light of the above exchange, and examination, it is recommended that, bakery business firm should utilize and receive MYOB accounting software as contrast with Xero. It is on account of it is all the more capable, savvy, and imaginative as contrast with Xero and others. With the compelling utilization of this, the organization can beat the present bookkeeping challenges and enhance business efficiency. MYOB would likewise enable the bakery shop to lead their business capacities in a more unique and creative way. For case, it would help the Bakery to gather the ongoing data so as to create budgetary reports and exchanges. This product would diminish the odds of extortion and potential security issues. In addition, the organization would have the capacity to beat human blunders in ascertaining the exchanges. Numerous archives would be created by the organization through the successful utilization of this product application. It would likewise enable the organization to bring development, precision, responsibility, speed, adaptability, cost minimization and so on (Serpanos, and Wolf, 2011).
The organization and its representatives would have the capacity to comprehend and access of the bookkeeping guidelines. So, with the successful utilization of MYOB, the organization would have the capacity to conquer its present difficulties, enhance level of benefit, income, piece of the overall industry and responsibility in a powerful and appropriate way. In addition to this, this application would also help the firm to update all the financial and accounting transactions automatically and effectively. The accounting people of the firm would be able to work with accuracy and speed through automatic calculation function of the software. Along with this, it is also important to know that, MYOB would also assist the company in creating and developing customized potential financial and accounting reports. Moreover, it would also offer a lot of financial and accounting advantages directly to the firm. For example, this software has ability to manage multiple business units in a single time. For case, it assists the company and its employees to conduct and edit transactions related to the finance and accounting.
Moreover, billing, taxation, payroll, purchase, and supply chain related functions could also be handled and managed by the company in an innovative and specific manner. On the other hand, reports on the cash flow, fund flow, stock could be generated with the effective use of MYOB. In the same way, it can be said that, with the help of this, the firm would be able to manage and handle multiple business functions in an effective and innovative manner. In the same way, the company could be able to attain core advantages from the market and improve its current profitability, marketability and revenue. In addition to this, MYOB would also motivate the employee of the firm. For case, it plays a key role in reducing the de-motivation, frustration and confusion of the employee of the firm. Overall, it can be said that, this software would align the core functions and operations with the strategic vision and mission of the firm. This would be more beneficial in attaining the long term goals and objectives. Hence, the company should use this software in order to take tangible and intangible advantages. Finally, this software would help the company to reduce various extra costs that negatively affecting the profitability and success of the firm (Christensen, Kruijff, and Wyatt, 2010).
Conclusion
In light of the realities of the research, it is compressed that, in the present time, it is basic and profitable for the business firms or organizations to concentrate on embracing and utilizing accounting software or data frameworks so as to being development inside their bookkeeping and money related capacities. Moreover, MYOB, SAP, Xero, Recon and so on are the most generally accounting software that could be utilized by the business firms keeping in mind the end goal to bolster their business capacities. Additionally, by utilizing these, an organization could accomplish focused degree and favorable circumstances from the aggressive market circumstance straightforwardly. On the other hand, it can also summarized that, a company must use accounting software as a strategic tool or planning technique in order to fulfill long and short term organizational objectives in an effective and proper manner. At last, it can be reasoned that, accounting software assumes enter parts in the achievement and development of the business firms and specifically influence the present business process and systems.
References
Christensen, H.I., Kruijff, G.J.M. and Wyatt, J.L. (2010). Cognitive Systems. USA: Springer.
Jain, C.L. and Malehorn, J. (2005). Practical Guide to Business Forecasting. NY: Institute of Business Forec.
Manresa, M. (2010). How to Open and Operate a Financially Successful Import Export
Business. US: Atlantic Publishing Company.
MYOB (2017). Available At: https://myob.com.au/ [Accessed on 23 May 2017]
Rainer, R.K. and Cegielski, C.G. (2010) Introduction to Information Systems: Enabling and
Transforming Business (3rd ed.). UK: John Wiley & Sons.
Reuvid, J. (2011). Start Up and Run Your Own Business: The Essential Guide to Planning
Funding and Growing Your New Enterprise (8th ed.). USA: Kogan Page Publishers.
SAP (2017). About SAP. Available At: https://go.sap.com/index.html [Accessed on 23 May 2017]
Serpanos, D. and Wolf, T. (2011). The Morgan Kaufmann Series in Computer Architecture and Design. USA: Elsevier.
Stair, R.M. and Reynolds, G.W. (2011). Principles of Information Systems. USA: Cengage Learning.
Turner, W.C. and Doty, S. (2007). Energy Management Handbook. USA: The Fairmont Press, Inc.
Woodburn, D. and McDonald, M. (2012). Key Account Management: The Definitive Guide (3rd ed.). UK: John Wiley & Sons.
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