MYOB Implementation for Macquarie Group
Added on 2020-04-01
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Running head: APPLICATION OF ACOOUNTING SOFTWARE PACKAGES IN AN ORGANIZATIONApplication of Accounting Software Packages(Macquarie Group)Name of the StudentName of the University Author Note
APPLICATION OF ACCOUNTING SOFTWARE PACKAGESTable of ContentsIntroduction......................................................................................................................................2Part 1................................................................................................................................................2Organizational Structure of Macquarie Group............................................................................2Operational Problems..................................................................................................................3ERP Acquisition Method.............................................................................................................4Flow Chart of the Sales Procedures.............................................................................................5Possible Frauds............................................................................................................................6Part 2................................................................................................................................................6Adoption of the Accounting Software Packages (ASPs)............................................................6Current Market size.....................................................................................................................7Competitive Advantage...............................................................................................................8Challenges Faced by Users..........................................................................................................8Conclusion.......................................................................................................................................9Recommendations............................................................................................................................9References:....................................................................................................................................10
APPLICATION OF ACCOUNTING SOFTWARE PACKAGESIntroductionThe aim of this report is to provide concise and evidence proof report on theimplementation of ERP and Accounting Software application packages within the organizationby the means of this literature review. Macquarie group has been considered for this case studyas it will provide better and practical situations for this implementation. This report alsoemphasize on the beneficial aspects and disadvantages of these implementation into the systemand their effect on the employees and the organization.Part 1Organizational Structure of Macquarie GroupIt has a non-hierarchical organizational structure among which there are five sub-divisions of the management team, which can be listed as: a central group of managing director,global chief operation officers, The Executive Committee, Heads of important operating groupsof Macquarie including the Head of Risk Management (Macquarie.com, 2017). It can also besaid that the Macquarie group has been restructured into a NOHC (non-operating holdingcompany) structure, which is being approved by the Federal Court and security holders.Following is a better picture for the organizational structure of Macquarie:
APPLICATION OF ACCOUNTING SOFTWARE PACKAGES Figure 1: Macquarie’s Organizational Structure(Source: Macquarie 2017)Operational ProblemsThere are certain disadvantages of this organizational structure which can result indeficiency of expected outputs. Following is the list of problems that might occur in thisorganizational structure: Intra-group coordination Leadership rolesMotivation among group membersRole and responsibilities of the membersCorrupting effect of the powerProper training Technology problems Proper scheduling management is not introduced in the organizational structure of theMacquarie group (Macquarie.com, 2017). Schedule management could help the manager or the
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