Suggestion for Accounting Information System Software for Coca Cola Company

This report provides suggestions for the accounting information system software suitable for Coca Cola Company. The report analyses the requirements of the company and compares software offered by three vendors. SAP S/4 HANA and SAP Analytics cloud by SAP are recommended as the most suitable software for the company.

Accounting Information System
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Executive summary
This report is developed with the aim to provide the suggestion to Coca Cola Company
regarding the accounting information system software suitable for the needs of the company.
In the report the requirements of the company has been analysed for suggesting the best
software. The company required to maintain the data related to payrolls, purchase orders, and
for budgeting and managerial reporting. Hence, for this purpose, three vendors are chosen to
analyse the software offered by them. Later, two vendors are chosen to compare their
software and its features. Out of the two vendors, the software by SAP is chosen as it is able
to meet the requirements and support the company in an effective manner.
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Table of Contents
Introduction................................................................................................................................3
Background................................................................................................................................3
Business Requirements..............................................................................................................4
Key business processes..........................................................................................................4
Outcomes required from processes to achieve the business objectives.................................5
Systems requirements.................................................................................................................6
Software selection......................................................................................................................8
Vendor selection.......................................................................................................................10
Conclusion................................................................................................................................14
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Introduction
The report is prepared in order to suggest Coca Cola Company with the accounting
information system software that can meet the requirements of the company. The company
want to implement the accounting information system software for maintaining the flow of
information related to payrolls and purchase orders, budgeting and preparing reports for the
management. This report includes the background of the company, business requirements
which include the key business processes and the outcome that is required by the company to
attain the business objectives. The system requirements of the company have been presented.
Three software vendors are chosen to analyse and compare whether they are able to provide
the support to the company related to the requirements of the accounting information system.
Out of three softwares, two vendors and their software packages are chosen for comparing
the features or the functionalities. The comparison helped in choosing the most appropriate
and compatible software package as per the needs of the company. The software package
chosen for meeting the needs of the company is SAP S/4 HANA and SAP Analytics cloud by
SAP.
Background
The Coca Cola Company is a manufacturing company that produces carbonated soft drinks.
The country of origin of the company is the United States. The company came into existence
132 years ago in the year 1886.It is a total beverage manufacturer. It offers more than 500
brands in 200 countries of the world. The company offers 4100 products worldwide. The
portfolio of the company includes valuable beverage brands like Ayataka green tea, AdeS
soy-based beverages, Dasani waters, Fanta, Del Valle nectars and juices, Georgia coffee,
Honest Tea, Gold Peak coffees and tea, innocent juices and smoothies, Minute Maid juices,
ZICO coconut water, Simply juices, Powerade sports drinks, smartwater, vitamin water and
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Sprite. The company is constantly focusing upon transforming its portfolio through reducing
sugar in drinks and by bringing innovative products to the market. The company employs
more than 7000,000 employees and providing the economic opportunity to the communities
in the world. The global headquarters of the company is located in Atlanta, GA (Coco Cola
Company, 2018).The net operating revenues of the company as reported in the year 2017 are
$ 35.4 billion. The market capitalization of the company is $ 195.48 billion. There are about
27MM retail customer outlets of the company.
Business Requirements
Key business processes
Coca cola is a large company that has its reach in different countries of the world. Being a
large company, maintaining the flow of information, organizing the payrolls, and purchase
orders information from multiple divisions and the departments of the business is important.
The company wants to implement this system for the different international and national
locations. Hence, it requires implementing the accounting information system that can help in
maintaining the flow of the information among the different departments of the company and
its companies established in the different regions of the world related to the payroll and
orders. The accounting information that the company is using in the present time is not able
to provide with the data from all the national and international location at one place. The
company is not able to get the access to the information related to the payrolls and orders
from the different locations. In the present time, the information accounting system records
the data of a specific location only. This makes it difficult for the company to analyse the
information of the different locations. Along with this, the company wants the support to
perform the budgeting functions of the company and wants to enhance the ability to develop
the management reports (Vitez, 2017). The budgeting function will help in enhancing the
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ability of the company to make the right decision. The managerial reporting is important for
the company in order to develop the financial data and analyse it for examining the
performance of the company in financial terms.
Outcomes required from processes to achieve the business objectives
The company wants an effective accounting information system which will provide the
information related to the payrolls and the orders from the company’s business in the
different locations of the world. The company requires software that can help in accessing the
information for the management from the different locations without any restriction. This will
help the company to effectively analyse the information related to payroll. It will help in
paying the salaries to the employees of the company on right time. This will eventually help
in providing the satisfaction to the employees of the company. Along with this, the payroll
management with the help of the accounting information system will help in taking care of
the taxation and the other related filings. It will be easier for the company to estimate the total
tax to be paid in an easier manner through accessing the payroll information. Apart from this,
the company will be able to maintain the information related to the purchase orders. The
company can easily analyse the increase or decrease in the demand of a particular product of
the company in the different locations of the world. Along with this, the company can also
maintain the inventory of the products. The effective decision can be made by the company’s
management related to the need of introducing the new product in the market. Both these
areas will help in ensuring satisfaction of the customers, calculation of the taxes and its
payment, maintaining the inventory of the products in the sufficient amount and the
distribution of the products in the different regions of the world in an effective manner
(Compliance4All, 2018).The budgeting functions will help in estimating the budget for the
activities of the companies related to the different departments of the company in an effective
manner. The automation of the budgeting function will help in estimating the cost of the
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different activities in an accurate manner (CPM, 2018). The company also needs to develop
the managerial reports, as this will help the company to make sure the effective analysis of
the financial data and measure the financial performance of the company in an easier manner.
The management of the company will be able to obtain the right information and can make
the right decision for the betterment of the company (ProWorks Group, 2018).The main
objective of the company behind the implementation of the accounting information system
software is to maintain the flow of the information in an effective manner.
Systems requirements
For enhancing the ability of the company through maintaining the flow of the information, it
is important for the company to consider some of the possible software features or the
functionalities to attain the objectives of the IT investment. The accounting information
system demands for all the important figures and the data from the financial records of the
organization, and arranges the data into a structured order. This system collects the data,
process the data and provide the useful information to the management or the decision
makers of the organization (Gelinas, 2018). It is important to make sure that the accounting
information system will be able to record the information in an accurate manner as well as
can protect the data.
The features to be considered in the accounting information system software are:
Ability of the software to collect and process the data: The accounting information system
software should be able to effectively and accurately collect and process the records of the
receivables, cash sales, cash purchases, payroll and payables and all the other records of the
transactions in the company. All the programs should be processed by the software in an
effective manner, such as all the credits and debits into complete database of information
management (Turner & Weickgenannt, 2008).
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Ability of the software to develop the reports for the management: The accounting
information is important in order to make the right decision in the company (Simkin et al.,
2012).The decision makes of the company like production managers, marketing managers,
departments heads, financial managers and the marketing managers should be able to get all
the details and the information generated with the help of accounting information system
software (Simkin et al., 2014). This can help the decision makers to analyse the current
operations of the company as well as they can understand and analyse the financial condition
of the company in an effective manner. They can set goals and develop the plans for the
future in an efficient manner (Romney et al., 2012).
Accuracy and security: The accounting information system software should be able to limit
access to the specific number of people to the system. It should be able to support the
company by ensuring that the system will be able to maintain the correct data in a secured
manner. The authority of providing the access to the people of the company should be in the
hands of the management of the company (Hall, 2015).People, who have the access to the
software system, have to verify their identity to the system, in order to access the data and
enter the data into the accounting information system software (Benge, 2017).
Analysis: The accounting information system software should have the ability to analyse the
data recorded in order to help the decision makers to take the right decision. The system
software should have the functions that can help in analysing the financial data in an efficient
manner. It should have the ability to develop the reports that can provide the right
information through the analysis (Mancini et al., 2013).
Software should be reliable: the accounting information system software should be of good
quality. It should be tested and quality certified. It should be reliable so that the data and the
records generated with the help of the software can be relied upon (AccountingEdu.org,
2018).
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Software selection
SAP: SAP provides different types of services and the solution to the company related to the
different areas of the organization. It offers the products and services for all types of
organization from small enterprise to large enterprise. SAP offers software for accounting,
financial close, and tax management. This software by the company runs fast, helps in
processing the automated closing in an accurate manner and helps in simplifying the
accounting so that operations can be undertaken globally. The financial close and the
accounting systems software of the company can help in streamlining all the information
from the financial consolidation in order to comply with all the major standards and the
principles. SAP S/4HANA Finance is a system software that is offered by SAP, which
provides the benefits such as it engages flexible business processes, provides access to a
single truth source and the best practices that are used by the companies can be learnt with
the help of this software system. This software system by SAP can help in financial planning
and analysis, accounting and finance close, enterprise risk and compliance, financial risk and
treasury management, collaborative finance operations and receivables management. SAP
also provides the assurance of the security and compliance and support and services (SAP,
2018).
SAP Analytics Cloud is a system that helps in analysing, planning, predicting, analysing and
collaborating within one system. The data can be accessed in an effective manner with the
help of this system. The quick actions can be taken through accessing embed analytics. It can
help in simplifying the planning as well. It is a system that integrates the analysis and the
planning platform for SAP S/4HANA that can help in make the decision within lesser time.
The reporting process is also integrated in this system that can help in saving the time as well
as provide support (SAP, 2018).
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XERO: XERO provides software solutions to different types of business in order to manage
their online activities efficiently. With the help of the software solutions, the technical
problems as well as the manual work are reduced to a great extent and the organization is
able to get real time solutions. XERO provides many accounting information software that
can be used by the organizations in order to manage their accounting activities. One of the
most famous software of XERO is related to payroll. With the help of this software, the
payroll solutions become very easy for the organizations. The main difference between the
other payroll software solutions and XERO payroll solutions is that maximum customers of
XERO have mentioned that the payroll solutions offered by the company are very easy. With
the help of this software, the issue related to compliance is solved and on an average, 2 hours
are saved by the customers while dealing with a new employee. XERO payroll solution
automatically updates the details of the employees and hence, saves a lot of labour work and
hours. This software also helps in tracking the working hours of the employees, which
includes the details related to leave of the employees (Xero, 2018).
MYOB: MYOB offers the different solutions and the support to the different company of
different sizes. For the accounting information management, MYOB offers MYOB Account
Right. It helps in performing the accounting as well as managing the capabilities of the
business in an effective manner. It helps the companies to be competitive and understand the
capabilities in an effective manner. It helps the company to stay in control and provides the
ability to customize and manage the inventory as well as multiple company accounts. It also
helps in saving the time and enhancing the productivity of the company in an effective
manner. The information related to the finance and the business information can be
developed in an effective manner such as payroll and payments. It can help in providing the
support for sharing the information with the help of this system across the different devices. It
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also has the capability to collaborate the information sharing regardless of the location
(MYOB, 2018).
Vendor selection
Comparison between the software packages offered by SAP and MYOB
SAP S/4HANA MYOB Account Right
 The data footprint of this software is very
small
 The analytics and reporting feature of this
software is very faster.
 The workload capacity of this software
package is unlimited
 This software offers multi tenancy
 With the help of this software all data can
be reflected whether it is text or graph.
 This software can be used through any
electronic device that is mobile, desktop,
tablet, etc.
 The software offers three different
deployment options that are on public
cloud, managed cloud and premise
(Proceed Group, 2018).
 The software helps in detecting the
expectations of the business
automatically
 This software offers faster and flexible
search capabilities which will help in
time management
 Customization feature is available in this
software which allows the flexibility to
improve the graphics as well as font used.
 Reports creator feature of this software
makes it possible to customize the reports
by considering the goals. Budget, etc. of
the organization.
 The close off of accounting data becomes
very simple with the help of this software
(MYOB, 2010).
 This software offers the feature of
MYOB Live with the help of which
anyone can access any information from
anywhere
 It offers the facility of bank feeds with
the help of which data entry is reduced as
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 Treasury management models are used by
this software which helps in quick cash
management as well as risk management
 It offers the capability to respond quickly
in order to deal with the market
fluctuations
 The software uses algorithmic processes
in order to reduce the organizational
errors.
 With the help of back end system
transparency is ensured with the system
also the scheduling of agreements is well
monitored with the help of this feature.
 This software uses the feature of natural
language processing technology in order
to communicate effectively
 It also offers voice or text enabled
applications in order to facilitate the
tracking of sales order
 The project creation and data
maintenance becomes very easy
 With the help of its reporting feature
early identification of risks is possible
and hence it is revolved at an early stage
(Accenture, 2016).
it is directly linked to the business bank
accounts and imports data automatically
 Functions efficiently even when being
used by multiple users
 Detailed reporting is offered by this
software which can be used by different
departments of the organization which
can be easily filtered and customized
according to their needs (Tech Soup,
2018).
 Emails can be sent directly with this
software
 Can be used in offline mode as well (Pro
Workflow, 2018).
 Accessibility is easy
 Sharing the company file with other users
is easy
 Data is stored on the cloud and hence the
data is safe and secure (BWR, 2018).
 This software package offers only the
automation of payroll function in
accounting
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 Financial data with the help of this
software is consolidated in real time
because of which faster analysis is
possible
 This software uses parallel valuation
features which helps to organize the
organizational activities in a consistent
manner along with parallel valuation
 Production cost analysis becomes very
easy as the variance between the planned
and actual production costs is discovered
with the help of this software (Ataway,
2017).
 SAP analytics cloud has the ability to
discover, visualize, communicate as well
as discover the data to the management of
the company.
 It helps effectively in planning and
analysing the financial data together in
order to make the better decisions in the
company.
 It uses integrated analysis and planning
platform for SAP S/4HANA in order to
act within lesser time.
 It supports bottom-up and top-down
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planning and maintains the flow of data
from the different applications
 It helps in providing reliable information
 The results can be seen upon the
dashboard in the graphical form.
 Helps in clarifying the concepts
 All the stakeholders of the company can
use the platform in order to attain the
common objectives.
Most Suitable vendor and accounting software package
In the basis of the above analysis it is clear that the best suitable vendor for the client is SAP.
This is so because the clients demand related to payroll function, orders; managerial reporting
and budgeting are all fulfilled by this single software vendor SAP. MYOB and XERO
vendors does not offer single destination in order to fulfil all these demands of the client.
Hence, SAP is the best option available as it will save a lot of time and money of the client.
The software package that can be selected by the client is SAP S/4HANA and SAP Analytics
Cloud. This is so because the SAP S/4HANA offers integration of the organisational planning
which facilitates the managerial work. This software is the best option for the preparation of
reports for management as it considers all the data and relevant information and presents it in
the reports that will ease the decision making process. This software also helps in the
budgeting process of the organization as well as to manage the payroll function and orders of
the company. Therefore, it is suggested to the client that this SAP software vendor and its
products should be selected in order to enhance the accounting work of the company.
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Conclusion
Coca Cola Company is one of the largest companies that manufacture carbonated drinks. It
offers about thousands of products in different countries of the world. The accounting
information system is one of the important needs of the company. The company required to
maintain the flow of the information, budgeting and managerial reporting of the company.
The company want to organize the payrolls and purchase orders of the different departments
and divisions. Along with this, the company want to automate the budgeting function and
managerial reporting so that the effective budget plan and reports can be developed. The
implementation of an effective accounting system can help the company to maintain the flow
of information related to purchase orders and payrolls. Along with this, the company can
effectively develop the accurate budget plan and the reports for the management can be
developed with the help of accounting information system software. The software vendors
are analysed and compared with each other in order to make sure that the company will be
able to get the require system software. The system software from three vendors are chosen
that are compatible for the needs of the company. The vendors chosen are SAP, MYOB and
Xero. The software should be able to collect and process the data, develop reports for the
management, ensure security, and accuracy of the data as well as should be reliable. The
chosen vendors are analysed through comparing the features that are offered by the respective
software systems from the different software vendors. Two software packages from SAP and
MYBO are chosen for comparing the features or the functionalities of the software. The
comparison of the features of software packages from the vendors helped in understanding
the effectiveness of each of the software package in contrast to the requirements of the
company. It has been suggested that SAP S/4HAHA Finance and SAP Analytics Cloud
should be implemented in the company for the accounting information system management.
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The integration of the packages by SAP will allow the company to maintain the flow of the
information, undertake the budgeting function and develop reports for the management.
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