Strategic Information Systems
Accounting software is an important thing in small and large scale company in recent times. It helps to carry out the business properly and precisely. While carrying out this process, it requires a lot of time and needs a huge knowledge from the technical departments. Accounting software in the computer will decrease the fault rising and increase the efficiency of work. While carrying out the duty, different accounting software packages will solve out the problem. This study is divided into two parts that are part 1 and part 2. In part 1, the structure of current organization carrying out the software packages properly. . It also helps in making operational plans performing on that organization. It also helps in making system on different acquisition method. It also helps in making a proper flowchart for the organization and identifying the control of the problems in that organization. In part 2, development and adoption of accounting software packages; the size of the current market; competitive advantage towards leader in market and challenges faced by users or customers while using software packages. This study helps to face all the challenges from the company and as well from software packages towards the customers or users. For part 1, AMP Limited of an Australian based financial company is taken into consideration for carrying out the study and the second part includes the MYOB accounting software is taken into consideration.
1.1 Organizational Structure
There is certain organizational structure and this is line organized structure, staff organizational structure, committee, divisional, project, matrix, and hybrid (Foss, Woll & Moilanen, 2013). In these, AMP Limited lies in the staff or functional structure of the company.
AMP Limited that is a financial company of Australia having products related with investment, banking includes the loans for home and accounts in savings for the customers. Company headquarters is in Sydney, Australia and formed in 1849 by the Australian Mutual Provident Society (Davies & Brown, 2014). The company stands for the betterment of the customers and provides all the advantage towards them. It provides proper planning for finance, advises, property such as loans for homes and other things. Organizations usually perform their business in the main four areas.
Firstly, provides proper planning and financial advice for the customers in business and in any other products. These services are distributed among the customers through a chain of networks or by a proper planner. Secondly, provides insurance risk schemes for the customers in product design and services. Thirdly provides a help to meet the customer needs or demands. This can be getting sales from the market for a particular product. Fourthly, this company is one of biggest investors in Asia’s Pacific. The company invests in findings such as fixed interest, infrastructure etc. Having a proper effort of the team as well as the management provides the customers or clients with proper planning and strategy towards the business.
1.2 Operational Problems
There are certain problems for the functional of the company. These includes with the violation regarding the command or the principle. It also brings out the operational problems of getting a high level of information from management.
AMP Limited is one of the service companies regarding finance mainly in Australia (Ali & Masood, 2016). The organization is determined to provide the best financial service towards the client and customers still faces certain challenges and problems regarding their operation on finance (wikipedia.org/wiki).
As a large financial service organization, AMP faces a bit structural problems for the customers and clients. AMP provides a poor policy schemes for the customers or clients and also provides poor experiences in the market strategy. There is a risk for getting the business environment such as for savings, loan etc and the organization is trying to recover from that problems. There is also a high risk, as a huge finance is already invested globally. Moreover, customers or clients behavior can also create a challenging situation by not providing the interest for the loans (Fernández et al. 2015). As the company is working globally and having customers or clients in Australia can get a problem of high competition in the market. Moreover, when there is a financial service, the capital is a huge problem and can create a high risk for customers as well for clients globally. Organization employee and the managements try to implement the operational problems for the betterment of customers and clients.
1.3 System acquisition
The commercial software can carry out the proper system acquisition methods. Commercial software is used for the sales and serving proper commercial purposes. This software helps for the open using of the source (Pollock & Hyysalo, 2014). Creation of the software can make a proper programming by saving time and work force. In order to carry out the commercial software, no other machinery are required but it requires all the raw products. While commercial software can be copied to many numbers at a free of cost to other members. Commercial software can be considered as free and open source software (FOSS). Moreover, FOSS has a limitation as the software packages are made duplicate at a free of cost (Dhiman, Amber & Goodman, 2015). All the parts or the services increase when it is made available with the FOSS software. It includes the products such as Google, Apple computers etc for describing the proper business model.
1.4 System flow chart
1.5 Control Problems in the Organization
A proper control will help to solve out the problems in the software commercialization model. This can be controlled by getting a proper law in the contract (Marinov, 2013). Moreover, it provides the legal basis for the own software company. It also makes an intellectual property for getting a proper commercialization software. Accounting package has certain problems or limits while working for the organization. There will certain problems related to the online banking and other services. Moreover, this software has to update on a daily basis and created issues or threats for not getting properly of financial orders of the customers. There can be some frauds of the software or false system software that must not be used by the organization. The organization must use proper software having proper legal terms that will help the company to keep the data properly of customers. Moreover, when the software packages are sold at a lower stage from the market and make control of the software packages.
2.1 Adoption and development of software packages
In order to a proper growth rate of the company, they must keep in mind about using proper software packages for the proper development and adoption. This help to keep the information or data intact of the customers or clients (Ramasubbu & Kemerer, 2014). Moreover, this adoption will help for proper secure space of data for the customers. All the companies usually use the different accounting software packages as per usage. In this case, the MYOB accounting software is taken into consideration. This accounting software helps for good managing of finance i.e., to increase the rate of profit and for making the good decision by taking consideration of finance.
These also increase by saving time and gradually increase the production of work. This will also help to get in stay with the date and work at a time help to keep the bookkeeper at an online stage. This accounting software is used all the country, especially in Australia. There is also a high increase of risk in the proper security while keeping all the financial statement in mind of the customers and for clients. MYOB has a proper corporate for the development of the solution of six holdings (Alexy, Henkel & Wallin, 2013). This development has created a new global drive for the betterment of the software packages. Moreover, MYOB has made a better product for helping all the business company and can carry out the financial order.
2.2 Current market size
For a long period, accounting software has made a popularity towards carrying out the business in the organization properly. While carrying out for the proper development has increased the size of the current market. MYOB has increased the huge demand in the market in order of proper financial statement from the customers and clients (Kelly, Vellante & Floyer, 2013). MYOB is the main accounting software used in Australia. There is a huge compilation of the software packages, as many organization makes accounting software. The accounting software packages must provide a proper accounting of data at a reasonable update cost. This will help to hold the proper market strategy and as well as to hold a proper market size. Moreover, MYOB is the most leading accounting software package in Australia’s organization. MYOB Group Limited has also reached the list of ASX limited (www.myob.com). It makes a proper sharing of the symbol MYO for the proper trading globally. Accounting software packages MYOB has made good products and proper services for proper completion of accounts.
2.3 Competitive advantage
While working for the accounting software packages, a different organization uses many packages for finance. There is a huge rate of competition as many organizations make accounting software packages. The organization tries to take the accounting software packages that will be profitable for the company. As the company has to keep in mind about all the factors, so a proper selection of the accounting software packages helps the rise of the organization. The accounting software company tries to provide the best packages for the better selling of products. Moreover, this company must keep in mind about earning less profit and providing better advantages and features to the customers (Wagner & Hollenbeck, 2014). In this competitive market, a company uses accounting system software in small or large-scale business. These are QuickBooks, Sage, Cash flow manager etc creates a huge competition in the Australian market.
These software package companies must provide a better advantage and extra features to the customers. This software can make a great platform for their branding as well with their products and services. Accounting software packages companies must provide with extra styles and can gather enough information for the customers and this software packages can be used in both online and offline. The organization must also solve out the requirements of the customers efficiently. Moreover, the leading software organization must keep in mind about the proper quality and service towards the product. The software accounting company must provide an extra advantage such as lowering the cost of the software packages in times of update. As the software, packages need a daily update for the proper working. This feature will provide an extra advantage for the software packaging company for getting an extra advantage in the competitive market.
2.4 Gap or challenges encountered by customers
For a long period, there are many challenges or gap encountered by customers while using accounting software packages. This accounting software will help for the proper working in the organization. The accounting software comes with certain limits and solves out the problems regarding the financial statement. There are certain problems faced by the customers or the company while using the accounting software company that includes with the security problem, bad relationship with the customer is from the higher authority. The accounting software packages have certain problems such as security problems (Royle & Laing, 2014). Moreover, if this software is not properly maintained than the other person can use it. While using the accounting software packages, the organization must use the proper security system to keep the file intact of the customers or users. In order to transfer file in the organization, this software must keep the accurate information regarding the customer financial account. The management must introduce proper technician while using of accounting software package. So, these can solve out the problem regarding this security problem.
Accounting software package plays an important tool in the organization while carrying out the business properly and effectively. From facing all the challenges and problems, the accounting software packages is useful for making the accounting, financial part of the customers or users. This software package helps to sort out the problems easily and effectively by providing less chances of error. Proper calculations of the data by the proper instruments reduce the error in the case while doing it manually. Moreover, this software packages helps the customer as well as the organization for getting better results in products and service.