HI5019 - Strategic Information System | Report

Running head: ORGANIZATION USING ACCOUNTING SOFTWARE IN AUSTRALIA
Organization using Accounting Software in Australia
Name of the Student
Name of the University
Author’s note

1ORGANIZATION USING ACCOUNTING SOFTWARE IN AUSTRALIA
Executive Summary
The objective of this report is to discuss about an organization in Australia that makes the use of
accounting software for its functioning. This report discusses about the Macquarie Group and its
organizational structure. It also outlines the types of software that this organization uses and its
competitive advantages. This report also suggests several solutions to overcome the limitations
of the accounting software.

2ORGANIZATION USING ACCOUNTING SOFTWARE IN AUSTRALIA
Table of Contents
Introduction..........................................................................................................................3
Part One...............................................................................................................................3
Current Organizational Structure.....................................................................................3
Operational problems faced by Macquarie due to its Structure......................................5
System Acquisition Method............................................................................................5
System Flowchart of the Sales Procedures......................................................................6
Control Problems and Different Types of Frauds that are Possible in this System.........8
Part Two...............................................................................................................................8
Development and Adoption of the Accounting Software Packages................................8
Current Market Size.........................................................................................................9
Leaders in the Market and Competitive Advantage......................................................10
Existing Challenges Encountered by Users of Accounting Software...........................10
Recommendations..........................................................................................................11
Conclusion.........................................................................................................................11
References..........................................................................................................................12

3ORGANIZATION USING ACCOUNTING SOFTWARE IN AUSTRALIA
Introduction
Macquarie Group is a well reputed Australian company. It is based in Sydney. Macquarie
is a well diversified financial group that is responsible for providing asset management and all
kinds of financial services like banking and risk solutions to the clients. They have a robust risk
management structure that has helped them to generate huge profit and revenue over the years.
This report focuses on the implementation of accounting software in the Macquarie
Group. It describes the organizational structure and what is the competitive advantage of the
company. It talks about the importance of accounting software used by the organization and the
existing loopholes in the accounting software. Accounting software is a type of software that
helps a company to carry on with its accounting works more efficiently in less time.
Part One
Current Organizational Structure
Macquarie group is involved in providing financial services like banking, asset
management and other financial aids to the clients. The company was founded in the year 1969
(Macquarie.com 2017). Macquarie follows a non hierarchical structure. This type of structure
follows no hierarchy or levels. This can also be called as a flat structure. This type of structure is
beneficial as it promotes an employee participation in decision making and motivates the
employees to work better (Smither Houston and McIntire 2016). This also helps to increase the
productivity of the organization as the response to the clients is faster. There are five divisions in
Macquarie, each having different functionalities. The managing director, deputy managing
director and the chief operations officer form the central or main group in the organization. This