Use of Accounting Software packages to improve business performance: BHP Billiton
The organizational process needs to get a proper prospect and the structure will provide stronger aspect to evaluate new things in the market place. With the consideration of the powerful market creation any company need to plan up things previously then they need to implement those things in the market. In this case, the study evolves out with the consideration of BHP Billiton who take up new ideas for being in the market place and reach up to the desirability level of the customers by serving them best things as per their needs.
1. Current organizational process:
The current organizational process for the BHP Billiton has seen a strategic process and as the company is operating in multinational mining, metals and petroleum based in Melbourne, Australia. The two entries that is BHP Billiton Limited and BHP Billiton Plc is a combined group of BHP Billiton. Headquarter for this company BHP Billiton, is situated in Melbourne, Australia (BHP Billiton | A leading global resources company 2017). The companies operation is procedure will take care by the board of directors and also run by a unified management team who takes acre about the financial as well as the operational process of the organization. The identical boards of directors are the main responsible person for taking care about the economic and other transaction related procedure. The main strategy for the organization is to own and operate large, long life, low cost and basically following the process of expandable upstream assets that get diversified by the market orientation, geography and with consideration to the commodity based market structure.
The unchanged process for the operation will help the company to be the same with time that will help for gaining the attention of the target customers and attracting the faith of the suppliers and other business associates. The structure also follows the connection with the internal and external stakeholders who take care about the equivalent economic and environmental base. The suppliers are old who has associated with the company from decade and this process help it to deliver superior margins throughout commodity and economic structures for many years.
2. The operational problem:
The workforce is huge and the operational process for the company is not that much strategic to coordinate with the structure of the company to a great extent. The diversified low cost procedure sometimes faces problem in consideration to the economic base of the country. As the organizational structure largely get affected by the economic process of the country’s economic condition (Fitzgerald, 2016). Many times the low-cost structure affects a lot to the company’s procedure. The cash flow process in the organization becomes the exposure for the operation. The diversified portfolio strategy for the organization helps the company to gain a powerful consideration of the customers and the company gain success over market but sometimes this diversified strategy involve the company in many problems like the directors and the other head authority cannot able to cooperate with the entire process. As the company produces coal from mining so a gas get extracted from the initial operational process and this gas is harmful for the environment. Other than that by this process water get released and it causes the blockage of cooling system and it operates as a closed circuit. During the coke making process the flushing liquor is put a negative effect to the environment.
3. The acquisition method:
The acquisition methods that get used in the organizational process help a lot to the organization. The company’s contingent resource estimation for the creation of gas from mine helps to calculate the deterministic methods and that has based on the potential increase of FLNG offshore technology. This BHP Billiton Company engaged largely with the operational process as well as for the exploration, development and focused on the production of natural gas property. The process is reclassified and the subsidiary process wholly operated by BHP Billiton Company itself. The intercompany accounts and the transactions regarding the company’s entire process have been eliminated a lot with the help of new software. This new software that the company use MYOB that helps for the better account process so that the company can gain success over time. The accountability process with the help of MYOB software will help to save precious time, as it can drive efficiency in accounting process after taking the clients’ insight, other than that the software save the company from taking a relive in tax-time pain as the technology helps a lot about the processing of the whole thing.
4. The system flowchart:
|BHP Billiton Board|
|BHP Billiton Executive Committee|
|Customer Sector Groups|
|HSE Committee |
|CSG HSEC representatives|
|Line Management |
5. Control problems in the system:
The control problems in the system is a necessary constrains that the organization need to solve anyhow for better system orientation and the operational process will help the organization for gaining profitability and further progression in the process. The drilling process in the operational method and the farcing wells in the area of the edge ford , BHP Billiton Petroleum is drilling these extra deep water wells and turning them over to private landowners in exchange for a share of water and this thing creates a huge problem. The higher cost for the new supply expected to come from the higher cost projects and in many times the company face huge problems regarding the financial crisis as they face financial issues from this fact. This kind of projects of the company will inculcate huge cost and the company also faces increasing challenges from the environment as well as from the market economy (Rodriguez, Ajjan & Peterson, 2014).
The higher capital for infrastructure that includes desalination capacity to manage water contains in various places and the power and the logistics will require essential investment from the company and sometimes for the other operational process handling cost get increased and the financial budget cannot get handled in a proper way. The community opposition and the permitting issues are making approvals and with time it becomes increasingly difficult to support. The demand growth is extend to keep piece in the steep part of the cost curve supporting high margins for low cost products and the company incur loss (Girodon et al. 2014). The control problems in the system are a general thing and the company needs to solve this problem very strategically by the help of appropriate governance and operational management.
1. Development and adoption of the accounting software
The development of the company will help it to show better performance in the market. The analytics and the investors of the company can easily access the all the financial databases provided by the company and the company use the method for tagging and it will help them to efficiently compare financial and business performance across the company. The business to government process will help the method to easily processed in the financial reports and the company believes to provide simpler form of structure not the complex one because the simple structure will help the company’s other controller and the management will responsible for the same (Al Ariss, Cascio & Paauwe, 2014). The software providers of the company will check up the supply and demand of the company and mainly the software enable for the better process for the business performance that associate with goods and services. The accounting software get used by the relatively few users of the accounts that incorporate analysts and the investors and they have the proper technical ability to properly manipulate the data available. The adaptation of iXBRL influence the HMRC and its intends to structure all the data that the collect in day to day basis.
2. The current market size:
The market of the organization creates the best value for the investors and other marketers will measure the value based on share of the process and number of outstanding shares. The market view of the company will help to increase the stoke market and it is an important factor in stoke valuation. The investigation for the company’s market will help to generate a powerful consideration about the pricing theory in the global market place along with the source of the raw materials. The company is focusing on the development and growth in accordance to meet the changing desirability of the customers. The raw materials for fuelling have ensured not the present growth of the company but along with that the company also aiming towards creating a good customer base for fulfilling the future aspect of the company. The world class portfolio of the company serve the growth options and it further helps to gain a strong prospect about short and long term growth achievement. The planning that incorporates the long and short term goals will fulfill the success criteria of the organization.
3. The leaders in the market and the competitive advantage:
Other leaders in the market are there who are doing coal and mining business but, BHP Billiton Company is strategizing new plans for their business as it is very essential for the business to sun smoothly in the market place as well as to fulfill the customers’ desirability (Hornsby, Peña-Legazkue v& Guerrero, 2013). The high performance terms of the employees and other management process will help the organization to reach and take up a great height in the business process as the company is day by day assimilate with the new marketing, production and operational policy to progress in the business. The organization is thriving on working in consideration of the high performance term as it will provide an advantage for the company in coming years. BHP Billiton has committed the customers to deliver best things and anyhow they are fulfilling the same. The organization is further try to increase the capability and skill of the employees so they can get to know the exact need of the customers and according to that they can able to serve best things to them. The products are new and the can able to satisfy the customers because the products are the perfect thing.
BHP Billiton has ensured the process of improved speed to the market, and it is more appropriate levels of control of delivery of risk so that the company can overcome any risk that occurs from the business process. The improved return on innovation and the investment procedure will help the organization for better market success that will lead the company to subside other competitors. The company is viewing towards creating the lower total investment costs. The faster project time cycle of the company helps it to do a faster process for the help of the customers. The time cycle process fosters the process of creating and innovating in the operational planning. Now a day the advancements of the technology along with the enhancements in system installation operability are getting higher for the company.
4. Current gaps or challenges encountered by the users or customers of accounting software:
The competitors are taking up new advantages from the market and along with that they can easily get up the responses of the customers (Yang, 2015). The product developing theory, other operations and the effective pricing theory will help the organization for better processing in the market place and BHP Billiton need to take up new innovation so that the customers take interest to their business. The company need to create a competitive advantage for them to achieving significant increases in sales and profit through developing product based on customers insights (BHP Billiton | A leading global resources company. 2017). Not only about the operation process but the company also help to create a powerful base for building a competitive advantage over employee management. The current gaps that the company faces due to the corporate management are due to not having a strong base in the employee structure the company faces various problems. The company needs to generate highly effective model for introducing the commercialization and wide variety of products.
BHP Billiton Company will take up the new ideas and innovation to visualize and capture the current market economy that will help them to gather a strong prospect in the market area. With the help of new technology, the environmental consideration the company can reach up to the great heights and make a place in the global market scenario.