HI5019 Strategic Information Systems ERP

Added on -2020-02-19

| HI5019| 13 pages| 2620 words| 31 views

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1Report Student NameInstitute Name
2Executive summaryThe report will highlight the number of drawbacks of the current traditional accounting system which is primarily utilized by the company and further discusses in detail about the advantages of the ERP system. The organization taken here is National Bank of Australia (NBA). In the latter part, there will also be the discussion of different benefits of the current system of ERP. Moreover, there are some good things about the system with the right type of market share of thecompany. The report will also suggest a set of recommendations that will help the company to overcome the problem.
3ContentsIntroduction......................................................................................................................................4Part A...............................................................................................................................................4National bank of Australia...........................................................................................................4Different type of challenges on operational level associated with current accounting system....5Acquiring ERP based on Accounting Software-XERO...............................................................5Flowchart.....................................................................................................................................5Issues and frauds..........................................................................................................................6Part B...............................................................................................................................................7Australian Accounting packages of Software..............................................................................7Market Size of software based on Accounting............................................................................7Accounting software and competitive advantages.......................................................................7Drawback of Traditional Accounting Systems..........................................................................10Recommendations..........................................................................................................................10Conclusion.....................................................................................................................................11Reference.......................................................................................................................................12
4IntroductionThe current sets of technologies are in the structure of software which is discussed in the report to base the research on varied kind of application along with software that helps in noting down different types of data (Mas et al., 2014). The recording of the data for the specific firm through software along with recording the payment activities, and the different set of accounting information of the company. It is important to understand here that the software registration work for a particular company on a daily basis along with recording the payment activities with the varied set of records achieving the work that also exhibit a common type of ledger related with the different type of accounts. In addition to this also shows a right kind of trial that relies on striking the perfect balance by every month and since it an act based on information in a framework that is discussed in relation to many kinds of accounts (Contractor et al., 2015). Part ANational bank of AustraliaThe company discussed here is National Bank of Australia also called as NAB. The bank is considered as one of the top banks in Australia and serve almost 5 million people in the country. This bank also has different branches that help in providing the services entirely based on web based banking along with ATM services for the people of the country. There are some branches associated with the bank like U-Bank and much more (Ahmad and Leftesi, 2014). NAB also provides different kinds of commercial services to address business activity. Not only this, the bank uses a traditional setup for the impactful system of accounting. This system, on the one hand, saves unnecessary expenses, but it never provides a right view in addition to the exact amount.

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