Discuss about the Erp System And Accounting Software System Of Woolworths.
In today’s competitive world, ERP system and accounting software system are becoming an important part of Woolworths. Woolworth’s group has been selected in the task to explain the significance of custom software, ERP system and accounting software system. Furthermore, the paper explains that how the organization has been able to build and develop unique culture and diversity at the workplace. On the other hand, the paper explains that how Woolworths are facing and managing operational and control issues within the organization. The system flowchart and significance of leadership have been explained in the task. It depicts that how the leaders help to gain competitive advantages in the global market. More detail of the task has been detailed below.
Woolworth’s group is a well known Australian company which was incorporated in 1924. It is one of the second largest companies measured by revenue in Australia. There are approx 202,000 workers employed in the organization who serves more than 29 million customers across the world (Woolworths, 2018). The main mission of the company is to deliver the best quality of the products and services for the customers in all over the world. It has been analyzed that Woolworth’s group limited manages and operates some of Australia’s most trusted and recognized brands. The company endeavors to attain a good experience of the consumers in the world (Thompson and Martin, 2010). The firm uses effective and dynamic supply chain management in order to satisfy the needs, requirements, and demands of the consumers in all over the world. Mr. Brad Banducci is the chief executive officer of the company (Woolworths, 2018). In addition, it has been stated that the group executive committee is responsible for the overseeing the management decisions and managing the business operations of Woolworths. The pyramid organizational structure is followed by the company in the workplace (Myers, Hulks and Wiggins,2012).
Some of the operational issues are being managed by Woolworths when initiating the business operations and activities at international level. The operational issues may influence profitability and revenue of Woolworths adversely. It has been analyzed that operational issues also affect the sustainability of the firm. The taxation and high costs of the products are major issues for the company that affects the profitability and returns (Stallings et al, 2012). Along with this, product quality also influences the growth rate of the organization. A leading and biggest challenge facing by Woolworths is language. Text within the software would need to be translated appropriately and correctly. Thus, it affects the efficiency and effectiveness of the subordinates. Cultural barriers also have a direct impact on the growth rate of the company. Due to cross-cultural issues, employees are unable to maintain a reciprocal relationship at the workplace. It has been noted that the organization does not provide training to new candidates thus; the employees are unable to get knowledge about new system and technology. Moreover, technology is another concern for the workers in Woolworths that could have a direct impact on the revenue. Due to lack of effective workforce, the employees are unable to use resources and capabilities within the organization. Due to lack of training and learning, ample of mistakes and errors are done by the workers within the organization. All these issues and problems are handled by Woolworths while operating business actions globally (Dos Santos, 2011).
Information technology is becoming an empirical part of Woolworths because the success and growth of the firm depend upon the information technology. This method helps to accomplish the long-term goals and objectives of the firm effectively. Various acquisition methods are used by Woolworths in the workplace including custom software, commercial software and Enterprise resource planning system.
Commercial software is one of the significant methods that used by the company to track the records and data successfully. This software also helps in the selling the products and services. Ms. Office is one of the dynamic examples of commercial software that is initiated by Woolworths (Solomon, 2010).
Along with this, the organization also uses custom software to fulfill the needs, requirements, and expectations of the firm. This software is basically created and designed for specific requirements of tasks. The managerial and organizational changes are done through custom software (Kwak, Park, Chung and Ghosh, 2012).
ERP system is also implemented by Woolworths to integrate the applications and data at the workplace. It helps to manage the work of back office by providing effective solutions for the various issues and problems (Winkelmann and Leyh, 2010). It has analyzed that mostly ERP system is implemented by the company while conducting business operations. With the help of ERP system, the company has been able to apply better data to make better decisions within the organization. In addition, it is easier to provide a high quality of customer service using enterprise solutions. Along with this, powerful and strong ERO solutions will keep track of regulations within the industry and focus on the managerial changes (Kuhn Jr and Sutton, 2010).
The system flowchart system is designed to indicate and analyze the activities and operations of the firm. Apart from this, system flow chart also helps to analyze and forecast the sales of the products and services. The above diagram shows that how the company receives orders to fulfill the demand of the consumers. Additional training and development coaching is given to the employees for designing a unique and effective system flow chart for the sales procedure. Business managers, users and warehouse keepers play a significant role in system flowchart technique.
Woolworths is facing various issues in today’s competitive world. Some of the control issues are discussed below.
There are various actions can be taken to reduce fraud in the system that are stated below.
It has been noted that accounting software is used by Woolworths for maintaining daily transactions and ledgers of customers and suppliers. It helps in making financial statements at the year-end. It increases efficiency and effectiveness of the workers. Furthermore, it reduces cost and expenses of the company. The proper level of inventory can be maintained with the help of effective accounting software (Ghasemi et al, 2011). It has been evaluated that accounting software is generally easy to learn and use in day to day business operations and activities. It provides security of data and furthermore data access can be done easily with the help of this software. If Woolworths chooses the accounting software carefully and successfully then the firm can easily make decisions in a hassle-free manner (Toth, 2012). The company can also keep accurate records of their finances effectively. Ultimately, accounting software saves the time of investors and suppliers. It has been analyzed that accounting software represents a technological advancement in the field of business accounting. This software also helps to analyze and evaluate the business practices and processes successfully. Having a good and unique business accounting software is likely having an in-house financial advisor. Also, it makes easier to access and provide accurate information. In this way, accounting software maximizes the sales and revenue of the firm (Kidd, 2012).
The market size of Woolworths is huge and wider. As a result, the company has been able to various types of consumers. Due to the large market size, Woolworths has been able to stand out against the main competitors Coles in the international market. The gross profit of the company was $ 6,667 Mil. and revenue of Woolworths in December 2017 was $22,878 Mil. Thus, Woolworth’s gross margin for the quarter that ended in December 2017 was 29.14%. This shows a strong and unique financial position of the firm in the Australian market (Ramamurti, 2009). Along with this, the effective leadership team is used by the organization to control and manage the activities and operations of the firm. This dynamic and unique leadership team helps in research and development. The organization has been able to build a dynamic image in the minds of the consumers by covering the large market share in the country. It also helps to develop and boost favorable working environments and culture within the organization (Aaker and McLoughlin, 2010).
It has been analyzed that there are various leaders in the Australian market that could affect the success and outcomes of the software companies. Most of the biggest competitors in the Australian market in super market industry are Wesfarmers, IGA, Aldi, Star mart, Coles central, Supa IGA and Coles. Various innovative products are produced by these leaders in the Australian market to strive with the competitors (Boedker et al, 2011). The unique technology and software used by the companies are able to provide competitive benefits in the international market. The pricing and product strategies are used by these competitors to differentiate their products and services to build and make a dynamic image in the Australian market. It will also help to overcome the rivalries in the market. It has been noted that Woolworths uses distribution model to distribute the products and services to the customers. These leaders are help in identifying and evaluating the demands and expectations of the users in the Australian market. Therefore, it provides various competitive benefits to the competitors.
There are various challenges and issues faced by software companies while using accounting software packages and ERP system within the organization. Since accounting software is accessed over the internet, delays and errors are likely to occur due to the distance to the data center (Gawer, 2011). In this process, speed issues are faced by the companies and customers in the workplace. It is found that many users are frustrated because their accounting software packages are not compatible and effective with their program. Thus, it affects the goodwill of the firm. It is evaluated that accounting software packages are much expensive and they are unable to provide accurate and right information to the clients. Along with this, accounting software packages are unable to find data file within the organization. The users have re-replicate the data file to some other location. Hence, it could affect the profitability and sustainability of the firm. The competitor can manipulate and rectify the data and application of the company making the full software unusable. All these challenges and risks are handled by the company when exploring and flourishing the business in the global market.
It is recommended that Woolworths should provide cross-cultural training to the employees in order to carry the actions and processes effectively. Cloud-based accounting software must be used by the firm to eliminate and handle the issues and obstacles related to the application, data, and software. Modification must be done by the firm in ERP system and custom software to gain the rivalries benefits. Advanced and latest technologies and tools should be used by the firm. It will help to attract and retain the diversified workforce at the workplace. The company should also focus on the sustainable human resource management to select the potential employees at the workplace.
Conclusion
The above discussion shows that how the company uses ERP system and accounting software packages in order to render products in the global market. The analysis shows that ERP system and accounting software packages are so important for Wesfarmers to promote and encourage the wide range of supermarket products in the market. On the other hand, various operational and control issues are being managed by the company that is occurred while implementing the ERP system and accounting software packages. The marketing size of Woolworths has been explained in the task. Here is the discussion about the leaders of the Australia who is using accounting software and ERP system.
References
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Boedker, C., Vidgen, R., Meagher, K., Cogin, J., Mouritsen, J. and Runnalls, M., 2011. Leadership, culture and management practices of high performing workplaces in Australia: The high performing workplaces index. University of New South Wales, Australian School of Business.
Dos Santos, M.A., 2011. Minimizing the business impact on the natural environment: a case study of Woolworths South Africa. European Business Review, 23(4), pp.384-391.
Gawer, A. ed., 2011. Platforms, markets and innovation. Edward Elgar Publishing.
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