Accounting Software Packages: Xero vs MYOB

Accounting Information System
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Executive Summary
This report has been undertaken to providing an understanding of the different accounting
software packages such as Xero and Myob from the perspective of a management consultant. As
such, it has provided a description of these accounting software’s by providing a comparison of
their relative features and products. The overall analysis has been done for identifying and
recommending a best accounting software package for a selected ASC listed company, that is,
Telstra Corporation Limited. The analysis has provided the recommendation of adopting XERO
based accounting software to be used by the company for complying with ATO requirements an
improving credibility in its accounting operations.
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Contents
Introduction......................................................................................................................................4
Background......................................................................................................................................4
a. Description of Client and its Business Activities.....................................................................4
b. Key Business Processes...........................................................................................................4
System Requirements......................................................................................................................5
Software Features and Functionalities Required by the Client Company for Supporting its
Business Activities.......................................................................................................................5
Software Selection...........................................................................................................................5
a. Brief Description of two accounting software package vendors and their products................5
b. Comparison of the features of two cloud-based accounting software packages......................6
c. Identification of the most suitable vendor and accounting software package for the client
company.......................................................................................................................................6
Conclusion.......................................................................................................................................7
References........................................................................................................................................8
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Introduction
This report is developed from the perspective of a graduate consultant working in a
management consultancy firm to provide recommendation for the adoption of cloud-based
accounting software within an Australian ASX-listed company. The selected company is
currently undertaking the evaluation of its accounting system and the CFO of the client is
planning for the implementation of cloud-based accounting software for supporting the business
growth. In this context, the report has provided a description of the selected client company
activities and the key business processes that are required for the client. This is followed by
outlining the software features required by the client company and providing a description the
recommended software package vendors such as SAP, MYOB, Xero and others that can be
implemented by the client company. The comparison of the features of two cloud-based
accounting software packages is then provided followed by identification of the most suitable
vendor and accounting software package as per the needs and requirements of the client
company. The client company selected for the purpose is Telstra Corporation Limited, one of
leading Telecommunication Company within Australia that is involved in development of
telecommunication networks and services.
Background
a. Description of Client and its Business Activities
Telstra Corporation Limited is recognized as one of the largest telecommunication
company of Australia listed on ASX. The company is involved in developing and providing
telecommunication networks and services. It builds and operates markets voice, mobile, internet
and data services and pay television services. It is a leader in providing telecommunication
solutions involving networking, cloud services, data hosting, and conferencing and satellite
services. The primary activity of the company consists of providing telecommunications and
information services to both domestic and international customers all over the world (Telstra
Corporation Limited, 2017).
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