The type of software of application keeping the record and collections of all the transactions related to finance and accounting is known as accounting software (Abraham and Dao 2017). The accounting software helps in the processing of the transactions. This particular software has various modules of functions like accounts receivable, ledger, accounts payable and trial balance. There are various benefits of this software. It helps to save money and time. It is extremely cost effective (Appelbaum et al. 2017). However, it does have some limitations. The major drawback of this particular accounting software is that it is not flexible. The inflexibility often creates problem for the organizations, which have opted for this software.
The literature review given below provides an overall description of the recognized organization of Australia, Amcor Limited. The discussion part of review outlines the structure of the organization with relevant diagram and description. The problems in the organization are also discussed in the below review. Amcor Limited has undertaken several strategies for their business (“Amcor – Home”, 2017). These strategies along with the system acquisition methods are mentioned in the review. The review further describes about the process designing and control problems. The second part of the review describes about the accounting software package, the competitors and the market leaders of Amcor Limited. Recommendations are given for the improvement of the business of Amcor Limited.
One of the leading organizations in packaging industry, Amcor Limited has spread its business and popularity in all over the world. Founded in the year 1986, this recognized organization used to make pulp paper and paperboard products with perfect and flexible packaging in its earlier days (“Amcor – Home”, 2017). In the recent days, it has focused on the production of flexible and rigid packages of plastic. The products of the organization help to protect the products of food, beverages, medical care, personal care and pharmaceutical care. Amcor Limited has its headquarters in Zurich, Switzerland. The head office is situated in Hawthorn Victoria, Australia.
Amcor Limited has a complex organizational structure that comprises of the corporate and the management structure of the organization. This structure has all the three management levels present (Pearlson, Saunders and Galletta 2016). They look after the sales, development and growth of Amcor Limited.
The figure given above helps to understand the three main sections of Amcor Limited. They are the Corrugators, Distributors and the Manufacturing, Products and Packaging group.
The main advantage of Amcor Limited is that it has several sections in its business (Appelbaum et al. 2017). The above figure helps to identify the several sections like the Amcor Asia, Amcor Australasia, Amcor Flexibles, Amcor PET Packaging, Amcor Sunclipse and Amcor Rentsch.
The products of the Amcor Limited organization help to protect the products of food, beverages, medical care, personal care and pharmaceutical care. This is one of the leading organizations in packaging industry. However, it has some of the significant problems in its organization that are pushing them down in the list of organizations (Ismail and King 2014). The problems of Amcor Limited are mainly for the inflexibility in the structure of the organization. The structure is not at all suitable for long term objectives and rather are for interim goals. The second problem in the organization is the excessive price of their products. Customers are avoiding this organization, as they are not able to afford their products. The third problem is the lack of customer relationship management and degradation in the supply chain management. The company has shortage of raw materials most of the time (Appelbaum et al. 2017). The next problem is the less involvement of employees. They are not willing to work organization any more.
The strategies of any organization help to overcome the organizational problems and improve in the efficiency (Peppard and Ward 2016). The first and the foremost strategy of Amcor Limited is the merging up with a Toronto based organization, namely Plastic Moulders Limited. This organization has flexible technological and technical teams and it produces molding, assembly services, engineering and designing for the packaging of products for health, food, and beauty, industrial and pharmaceutical markets. This acquisition has increased the overall revenue of Amcor Limited (Pearlson, Saunders and Galletta 2016). The next strategy of the organization is that they have selected all the partners of logistics from the local region. This reduces the shipping cost.
This organization utilizes the principle Enterprise Resource Planning software for their system. They have undertaken SAP for their business. Several versions of SAP are utilized here including the SAP SCM 5.0, SAP CRM 7.0 and the SAP ERP 6.0 (Cassidy 2016). The major benefit of this software is that it can integrate all the modules of functions of an organization (Peppard and Ward 2016). It even increases the flexibility and reduces the complexities.
The pictorial representation of any process or business is known as the system flowchart of that business. The figure given below provides the entire procedure of sales of Amcor Limited.
The entire procedure of sales in Amcor Limited (Cassidy 2016). It is divided into five sections of customer, sales, contracts, legal and fulfillment. When a customer places an order, it is passed through several checkpoints and if all the conditions are satisfied, the product is shipped and the customer receives the product. However, if the conditions are not met, the sales representative cancels the order.
The main problems of the organization are due to the inflexibility of the organizational structure and the lack of interests of the customers. Amcor Limited has selected SAP Enterprise resource planning for the improvement of their business (Ismail and King 2014). This is helping them to cope up with the lack of supply chain management and customer relationship management as well.
The employees of the organization are not working as a team. They must work as a team. This will in turn improve the overall sales and productivity (Peppard and Ward 2016). When all the workers will work together, it is evident that time consumption will be less.
The CRM or customer relationship management helps to maintain a stable relation with the customers of an organization (Li et al. 2017). Amcor Limited is suffering from lack of CRM. They must focus on this feature to gain more popularity.
The SCM or supply chain management helps an organization to keep a stable supply of all the raw materials and requirements of the business (Nguyen, Nguyen and Bosch 2017). It is observed that Amcor Limited has problems in the daily supply of raw materials. They should keep an eye on their inventory so that there is no shortage of raw materials.
Accounting software packages help an organization to attain the organizational goals and objectives within less time (Dimitriu and Matei 2014). Amcor limited is suffering through various threats and problems for some unavoidable reasons. An accounting software package can be an evident solution for their problems. They have undertaken an accounting software package for their business. The accounting software package undertaken by Amcor Limited is Xero (Smith 2017). A New Zealand based company, Xero mainly produces software that are cloud based. These products are based on the cloud deployment model of Software as a Service or SaaS. The major benefit of this accounting software is that many customers can be supported within little time by this software.
The current market size of Amcor Limited. A graph is given in the diagram which illustrates that Amcor Limited had difficulties in the previous years (Kavanagh and Johnson 2017). However, they are slowly overcoming the challenges and gaining a stable position in the market. The shares of Amcor Limited are stable and the organization is regaining its popularity slowly.
Amcor Limited is one of the leading organizations in Australia that produces packaging to several items (Coviello and Tanev 2017). It does have some of the major competitors in the field. The most important competitor of the organization is the Georgia Pacific. One of the most popular American companies, Georgia mainly manufactures and distributes tissues, paper, paper towel and pulp. The second competitor of the organization is the Silgan Holdings (Galliers and Leidner 2014). The main advantage of this organization is that it leads in the stock prices, which are extremely high. Therefore, Amcor Limited, Silgan Holdings and Georgia Pacific are the market leaders.
The problems faced by Amcor Limited can be solved by following several plan. The recommendations for Amcor are as follows:
iii) Involvement of Employees: The employees should work as a team so that te productivity of the organization is increased.
The recommendations would be extremely helpful for Amcor Limited for improving their business efficiency.
Conclusion
Therefore, from the above discussion it can be concluded that, accounting software is the type of software of application keeping the record and collections of all the transactions related to finance and accounting. The accounting software helps in the processing of the transactions. This particular software has various modules of functions like accounts receivable, ledger, accounts payable and trial balance. There are various benefits of this software. It helps to save money and time. It is extremely cost effective. However, it does have some limitations. The major drawback of this particular accounting software is that it is not flexible. The inflexibility often creates problem for the organizations, which have opted for this software. The above given literature review provides an overall description of the recognized organization of Australia, Amcor Limited. The discussion part of review outlines the structure of the organization with relevant diagram and description. The problems in the organization are also discussed in the above review. Amcor Limited has undertaken several strategies for their business. These strategies along with the system acquisition methods are mentioned in the review. The review further describes about the process designing and control problems. The second part of the review describes about the accounting software package, the competitors and the market leaders of Amcor Limited. Recommendations are given for the improvement of the business of Amcor Limited. These recommendations will be helpful for Amcor Limited.
References
Abraham, T., and Dao, V. 2017. An Empirical Investigation of Sustainability Innovation Systems and the Stages of Sustainability Maturity.
Amcor – Home. 2017. Amcor.com. Retrieved 10 September 2017, from https://www.amcor.com/
Appelbaum, D., Kogan, A., Vasarhelyi, M., and Yan, Z. 2017. Impact of business analytics and enterprise systems on managerial accounting. International Journal of Accounting Information Systems, 25, 29-44.
Cassidy, A. 2016. A practical guide to information systems strategic planning. CRC press.
Coviello, N., and Tanev, S. 2017. Initiating a New Research Phase in the Field of International Entrepreneurship: An Interview with Professor Nicole Coviello. Technology Innovation Management Review, 7(5).
Dimitriu, O., and Matei, M. 2014. A new paradigm for accounting through cloud computing. Procedia Economics and Finance, 15, 840-846.
Galliers, R. D., and Leidner, D. E. (Eds.). 2014. Strategic information management: challenges and strategies in managing information systems. Routledge.
Ismail, N. A., and King, M. 2014. Factors influencing the alignment of accounting information systems in small and medium sized Malaysian manufacturing firms. Journal of Information Systems and Small Business, 1(1-2), 1-20.
Kavanagh, M. J., and Johnson, R. D. (Eds.). 2017. Human resource information systems: Basics, applications, and future directions. Sage Publications.
Li, M. H., Cui, L., and Lu, J. 2017. Marketized state ownership and foreign expansion of emerging market multinationals: Leveraging institutional competitive advantages. Asia Pacific Journal of Management, 34(1), 19-46.
Nguyen, T. V., Nguyen, N. C., and Bosch, O. J. 2017. Enhancing the competitive advantages of Vietnamese coffee through the exploration of causal loop modelling in the supply chain. International Journal of Logistics Systems and Management, 26(1), 17-33.
Pearlson, K. E., Saunders, C. S., and Galletta, D. F. 2016. Managing and Using Information Systems, Binder Ready Version: A Strategic Approach. John Wiley & Sons.
Peppard, J., and Ward, J. 2016. The strategic management of information systems: Building a digital strategy. John Wiley & Sons.
Smith, H. 2017. Xero for dummies. John Wiley & Sons.
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