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Strategic Information System - ITC520 - Research Paper

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Charles Sturt University

   

Strategic Information Systems and Technology (5U7Z0067)

   

Added on  2020-03-13

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The report is made in the light of Macquarie Group, a finance-providing firm based in Sydney, Australia. The purpose of the report is to conduct research on the bank mentioned above and analyze the pros and cons of implementing accounting software to the same. It discusses the Organization and its Structure. The operational issues of the company due to its structure are discussed in detail.

Strategic Information System - ITC520 - Research Paper

   

Charles Sturt University

   

Strategic Information Systems and Technology (5U7Z0067)

   Added on 2020-03-13

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Running head: ACCOUNTING SOFTWARE IMPLEMENTATION AT MACQUARIE GRPAccounting Software Implementation at Macquarie GroupName of the Student:Name of the University:Author Note:
Strategic Information System - ITC520 - Research Paper_1
1ACCOUNTING SOFTWARE IMPLEMENTATION AT MACQUARIE GRPExecutive SummaryThe report is made in the light of Macquarie Group, a finance-providing firm based in Sydney,Australia. The purpose of the report is to conduct research on the bank mentioned above andanalyse the pros and cons of implementing accounting software to the same. It discusses aboutthe organisation and its structure. The operational issues of the company due to its structure arediscussed in detail. The system acquisition methods of the bank are assessed and a salesprocedure flowchart of the same is provided. It discusses the control problems in the system andthe possible frauds that occur due to the mentioned flaws. It consist details on development andadoption process of the accounting software service aboard the company. The current marketsize of the company is analysed and compared with other competitors. The leaders in theAustralian market of financial competency are determined and their competitive strategies areresearched. Finally, a comprehensive study is done on the challenges faced by the users ofaccounting software and possible recommendations are provided based on the mentionedproblems that will help to avoid the same.
Strategic Information System - ITC520 - Research Paper_2
2ACCOUNTING SOFTWARE IMPLEMENTATION AT MACQUARIE GRPTable of Contents1. Introduction..................................................................................................................................32. About the Company and its Organisational Structure.................................................................33. Operational Issues of the Company due to its Structure..............................................................44. System Acquisition methods of Macquarie.................................................................................55. System Flowchart for the Sales Procedures of Macquarie Group...............................................76. Control Problems in the System and Possible Frauds.................................................................97. Development and Adoption of the Accounting Software Packages............................................98. Current Market Size.....................................................................................................................99. Leaders in the Market................................................................................................................1010. Existing Challenges Encountered by Users of Accounting Software.....................................1111. Some Recommendations.........................................................................................................1112. Conclusion...............................................................................................................................1213. References................................................................................................................................13
Strategic Information System - ITC520 - Research Paper_3
3ACCOUNTING SOFTWARE IMPLEMENTATION AT MACQUARIE GRP1. IntroductionThe report is made in the light of Macquarie Group, a reputed company based in Sydney,Australia. The purpose of the report is to focus on the importance of implementation ofaccounting software packages by small to large-scale businesses for furthering the developmentof the same. Accounting Software packages help a company of any scale to manage all financialaspects and issues by keeping electronic records of the same and providing solutions related toany accounting issues (Hall 2012). Therefore, it is better to implement software that can help inefficient handling of accounts related matters.2. About the Company and its Organisational StructureMacquarie Group is a financial institution that provides financial aid to its clients in anymanner. It provides its clients with solutions to manage assets, gives guidance related to banking,investment and such. The company was listed in the year 1996 whose current managing director(MD) and CEO is Nicholas Moore (Macquarie.com 2017).The non-hierarchical organisational structure of Macquarie is divided into five functionaldivisions. The executive committee is a centralised group that is formed with the MD, DeputyMD, Risk Management Head, Global Chief Operations officer and Chiefs of Macquarie’s mainoperating departments. There are separate departments within the organisation that is managedand handled by these operating groups. These departments are inter-related depending on theirspecialisation in specific market. Apart from the operational divisions, there are four servicedivisions that provide the support, infrastructure and framework required by the operationaldivisions for the management of the business. The four service groups are Financial
Strategic Information System - ITC520 - Research Paper_4

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