Cloud-Based Accounting Software for Woolworths Group Limited

Accounting Information System
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Executive Summary
This report has been developed for examining the use of cloud-based accounting software
for an ASX listed entity. The business entity selected for analysis purpose is Woolworths Group
Limited that is undertaking the adopting of a cloud-based software application to meet its
strategic needs and objectives. The company has been recommended to integrate the use of
XERO accounting software after analysis of its business requirements and the functionalities
offered by the software. The software can adequately meet the financial management needs of
Woolworths by better tracking of its inventory, sales, expenses, purchases and other financial
management issues in an effective manner.
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Contents
Introduction.................................................................................................................................................4
Background..................................................................................................................................................4
Brief Description of the Client and its Business Activities........................................................................4
Key Business Processes of the Client.......................................................................................................4
System Requirements..................................................................................................................................5
Software Features and Functionalities....................................................................................................5
Software Selection.......................................................................................................................................6
XERO & MYOB Accounting Software Package and their Products...........................................................6
XERO....................................................................................................................................................6
MYOB...................................................................................................................................................7
Comparison of the Software Features of MYOB & XERO.............................................................................7
Accounting Software Package Vendor Suitable for the Client Company.....................................................8
Conclusion...................................................................................................................................................9
References.................................................................................................................................................11
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Introduction
This report has been developed to provide recommendations regarding the adoption of
cloud-based accounting software within a selected Australian ASX-listed company. The overall
analysis has been undertaken from the perspective of a management consultant intending to
provide suggestion to its client regarding the adoption of cloud-based accounting software, that
is, SAP, MYOB or Xero. The report is developed for the use of CFO of the client company for
providing knowledge regarding the best accounting software package that should be considered
for supporting the business needs and activities. The case company selected for analysis purpose
is Woolworths Limited, a supermarket giant of Australia involved in providing grocery items
within its retail chains across Australia and New Zealand.
Background
Brief Description of the Client and its Business Activities
Woolworths Limited is known to be a leading supermarket giant within Australia that has
been established within the year 1924. It mainly specializes in providing grocery items such as
vegetables, fruit, meat and packaged foods and also additional products such as health and
beauty items. It conducts about 1000 stores across Australia involved in providing fresh fruit
and vegetables. The company mission is to provide innovative and distinctive products and
services to its customers across Australia and New Zealand. The core business segments of the
company include Australian Food, New Zealand Food, Endeavour Drinks group and other
portfolio business. The food segments of the company across Australia and New Zealand is
involved in providing food and liquor products while drinks group is involved in procurement of
liquor products for reselling to the customers in Australia. The other portfolio business of the
company includes providing hotel, entertainment and gaming services (Woolworths Group,
2019).
Key Business Processes of the Client
Woolworth places high emphasis on adopting a business process management approach
for achieving its strategic goals and objectives. The key business processes of the company
includes procurement of raw materials, handling inventory, manufacturing of products,
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