Cloud-Based Accounting Software for BHP Billiton

Accounting Information System
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Executive Summary
This report is being developed for carrying out an examination of the cloud-based
accounting software applications such as XERO, MYOB or SAP to be used by businesses for
managing the financial data. It has analyzed the online software system requirements of BHP
Billiton Ltd and has proposed the company to adopt the use of XERO online accounting software
application. The recommendation is made on the basis of business needs and requirements that
can be adequately met with the adoption of XERO accounting software.
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Contents
Introduction.................................................................................................................................................4
Background..................................................................................................................................................4
Description of BHP Billiton & its Key Business Activities..........................................................................4
Business Processes of BHP Billiton...........................................................................................................4
Software Features and Functionalities to be Considered by BHP Billiton for Supporting its Business
Activities......................................................................................................................................................5
Software Selection.......................................................................................................................................6
Accounting Software Package Vendor & their Products..........................................................................6
XERO....................................................................................................................................................7
Comparison of MYOB & XERO Accounting Software Packages....................................................................7
Most Suitable Vendor and Accounting Software Package for BHP Billiton..................................................9
Conclusion...................................................................................................................................................9
References.................................................................................................................................................11
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Introduction
The business entities are largely adopting the use of innovative and latest accounting
software for better management and coordination of their accounting and financial operations.
The adequate management of financial resources is critical for the growth and success of a
business firm. The use of accounting software that provides the efficiency to business firms to
better manage their financial resources by providing access to real time data which can lead in
better decision-making. This report has been carried out in the context of examining the
usefulness of cloud-based online software applications in management of accounting and
financial data of an ASX listed entity. The analysis has been done from the perspective of a
management consultant providing recommendations to the CFO of the selected entity regarding
the need and consequent benefits of integrating the online accounting software for supporting the
various business activities. The company selected for analysis purpose is BHP Billiton Limited,
an Australian based international mining company.
Background
Description of BHP Billiton & its Key Business Activities
BHP Billiton is an Australian mining company that is recognized as one of the largest
mining company across the world in terms of revenue. It is involved in extracting and processing
of minerals, oil and gas products across the world and possesses a dual-listed business structure.
The company is listed on ASX as well as stock exchange in London (BHP Billiton, 2017). The
company is mainly involved in producing the various commodities such as iron ore, coal, copper
and uranium. The major business activities of the company include production and exploration of
petroleum, copper, iron ore and coal (Gilroy, 2015).
Business Processes of BHP Billiton
The business model of BHP Billiton consist of the following four stages, that is finding a
deposit, establishment of mining, carrying out mining activities and lastly involves conducting
purification. The primarily business process of the company includes identifying suitable
location for mining and conducting feasibility studies. This is followed by obtaining the
regulatory approval and then establishing the infrastructure for conducting mining operations.
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