HI5019 Strategic Information System: Assignment

Added on - 12 Nov 2019

  • HI5019

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Part – 1IntroductionWith the introduction of highly advanced technologies, the complexity of business world isincreasing by every passing day. To deal with these complexities a business organization needsto prepare such a information system that provides them the required information on their fingertips[ CITATION Hun03 \l 1033 ]. With the advent of accounting information system it has becomepossible for the business firms to operate the information in a manner to obtain the best out of it.Accounting information systems are such software’s that helps the firm in recording, classifying,analyzing the financial data of the organization[ CITATION Jes10 \l 1033 ]. Most of the organizationneeds such software’s to record the payroll, ledger, accounts receivables, accounts payable etc.These software’s not only provide financial information to the firm but also helps in decisionmaking, cost cutting and improving effectiveness of the employees of the organization.Literature ReviewMost of the organization nowadays is failing not because of the competition but because of thelack of advanced accounting information systems. The business organizations from every othercorner of the world are now opting accounting information systems into their workings.Accounting information systems are not only meant for large businesses but it is also beenprepared for small and medium size organizations by its developers[ CITATION twi13 \l 1033 ].Now we will talk about Eastwood Refrigerator’s private limited, an Australian firm that is intobusiness since last 45 years and holds a significant market of refrigerator in Australia. The firmis experiencingunexpected losses in their business, so in order to overcome these losses; theyhave decided to install an accounting information system in to the computer systems of theorganization. Earlier the Accounting information system developers used to make software’s thatwere not customer friendly and if they are installed into the systems then the client cannot makechanges to the software. The AIS developing companies understand this situation and madefurther changes and now they are developing newer software’s that are customer friendly and theclient can alter or amend any feature of the new accounting information systems[ CITATION Kam16\l 1033 ]. Below are the top three popular accounting information systems that are currently beingused in Australia[ CITATION bar12 \l 1033 ].MYOBSAPReckon-One
MYOBThe full form of MYOB is Mind Your own Business. It is one of the most used and preferredaccounting information systems that have been designed for small and large scale firms. Thedeveloper of MYOB is Christopher Lee[ CITATION Har07 \l 1033 ]. The official website of MYOBclaimsto have active number 160000+ users in Australia alone.SAPSAP is considered to be the best for Mid-size and Large scale firms. It also has a large number ofactive users. SAP is growing its market day by day and soon it may over take the market ofMYOB as SAP is really providing some best of the features a client wants.H.R, Finance,Payroll, Digital supply chain, Customer Engagement and commerce are the services which theyprovide. SAP uses cloud based storage data system that gives the client a full proof security. Theinformation is available on a click. SAP is best suited for mid and large scale firms[ CITATIONQSR11 \l 1033 ].Reckon-OneReckon-One is again, accounting information system that uses cloud based storage system. It isdesigned to help small and medium scale industries. It is widely used still not much popular asMYOB & SAP. Many individuals like accountants and auditors use this accounting informationsystem for their work[ CITATION har13 \l 1033 ]. It also has a good number of users in Australiaand New Zealand.Coming to East wood private limited, they are using the SAP AHANA accounting informationsoftware that not only provides them with theoretical information but also help them in practicalprocesses of decision making and others[ CITATION Geo12 \l 1033 ]. Following are few plus pointsthat have made Eastwood to choose SAP:Customer Friendly: SAP is considered to be the most customer friendly accountinginformation system. It is easy to use and let the client make any changes even after theinstalling of the system.Economical: A big reason to choose SAP is that it is economical; every organizationwants to spend less and get more.Confidentiality: SAP provides confidentiality over the information of the organizationonly people with authentication code can access to such information. SAP uses cloudbased data storage system to secure the information.Custom-Made: SAP provides its client a feature of altering and amending the software.If at any point the client feels of alter the features of the software he can do even if thesystem is already installed and working.
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