Integration of Cloud-Based Accounting Software for Origin Energy

Accounting Information System
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Executive Summary
This report is being carried out for examining the need of integration cloud-based
accounting software for an ASX listed company, that is, Origin Energy. As such, it has examined
the software features required by the company that can be met with the adoption of a cloud-based
accounting software application. It ahs also provided detailed comparison of MYOB and Xero
accounting software package and has recommended the company to integrate the use of Myob as
per its business needs and requirements.
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Contents
Introduction................................................................................................................ 4
Background................................................................................................................ 4
Description of Company & its Business Activities....................................................4
Business Processes of the Company.......................................................................4
System Requirements................................................................................................ 4
Software Features and Functionalities to be used by Client Company....................4
Selection of two different accounting vendors and description of vendor and their
products..................................................................................................................... 5
Xero......................................................................................................................... 5
MYOB....................................................................................................................... 6
Detailed comparison and contrast of functions or features of two selected cloud
based accounting software packages.........................................................................6
Most Suitable Accounting Software Package for the Client Company........................8
Conclusion.................................................................................................................. 8
References................................................................................................................. 9
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Introduction
The integration of Accounting Information Systems (AIS) is proving to be largely helpful
for the business entities to adequately manage their accounting functions and activities. The
cloud-based accounting software is regarded as the most effective AIS system that is being used
by business entities within Australia to conduct their accounting processes. This report has been
developed for the purpose of examining the use of cloud-based accounting software for an ASX
listed entity from the perspective of a management consultant. The ASX listed entity selected as
a client company to be provided recommendation for the adoption of cloud-based accounting
software is Origin Energy. The report has outlined the software features to be used by the client
for supporting its business activities by examining the features of the accounting software
package such as such as XERO, MYOB or SAP and recommending the best software to be used
by the company.
Background
Description of Company & its Business Activities
Origin Energy is a leading integrated energy company that is publicly traded on ASX and
is estimated to provide energy products to about 4.3 million customers in Australia. The
company is mainly involved in exploring, producing, generating and sale of energy products and
services across Australia. The major business segments of the company include exploration,
production, generation and selling of both renewable and non-renewable forms of energy. It is
also regarded a leader in developing and providing renewable energy and natural gas. The
company is emphasizing largely on empowering the customers by reducing the carbon footprint
through investing in renewable sources of energy such as wind and solar.
Business Processes of the Company
The key business process of the company includes exploration and production of gas,
generation of electricity, creation of renewable energy sources and sales of energy products and
services. All the business processes of the company involve creation of accounts and processing
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