Strategic Information Systems for Business and Enterprise

This document analyzes the case study of Eureka Limited to identify key business processes, control risks, and system requirements for improving the accounting system. It discusses the need for accounting software with features like asset tracking, payroll, billing, core accounting, budgeting, forecasting, reporting, and inventory management.

Running head: STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
Strategic Information Systems for Business and Enterprise
Name of the Student:
Name of the University:
Author’s Note:
Course ID:

1STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
Table of Contents
Introduction:....................................................................................................................................2
Business Requirements:...................................................................................................................3
1. Ascertaining key business process that is present with the operations of Eureka Limited:........3
2. Ascertaining Eureka Limited’s the major control risks for the business processes:...................4
Systems Requirements:....................................................................................................................6
1. Ascertaining features and functionalities of the possible accounting software that is needed by
Eureka limited for considering their business objectives and minimise the control risk:...............6
Software Requirements:...................................................................................................................9
1. Identifying three accounting software package vendors and providing a brief description of
each vendor for its product by visiting the website:........................................................................9
2. Ascertaining suitable vendor and accounting software package that can be used for improving
the accounting system of Eureka Limited:....................................................................................11
Vendor Selection:..........................................................................................................................12
1. Equating and opposing the features and functionalities of two accounting software packages
offered by the accounting software package vendors:...................................................................12
2. Recognizing suitable vendor and accounting software of Eureka Limited, which can support
its accounting system:....................................................................................................................15
Conclusion:....................................................................................................................................15
References and Bibliography:........................................................................................................17

2STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
Introduction:
The case study of Eureka Limited is analyzed in the assessment, which helps in detecting
the relevant accounting needs of the organization. From the relevant analysis of the case study, it
could be identified that the company is facing problems in their competitiveness, due to the
outdated accounting system. This has led to the loss of adequate sales during the previous
financial year, which has resulted in mixed revenues and progress of Eureka Limited. Therefore,
adequate analysis has been conducted on identifying the major key business process that is
required for the organization. Moreover, after the detection of the key business process relevant
control risk of Eureka limited has been identified. This is essential for identifying the relevant
system requirements that is needed by the organization to support is accounting system.
Furthermore, relevant analysis has been conducted on assertion and functionalities of
different possible accounting software that the needs to be accommodated in the accounting
system of the organization. Moreover, three different software package vendors with relevant
descriptions and websites are adequately analyzed in the assessment. Nevertheless, the selection
of the most appropriate window and accounting software package that is needed by the
organization is highlighted with relevant essential features that are needed in the accounting
system. Lastly, suitable vendor in accounting software has been selected for the accounting
process of Eureka Limited, as it would help the management to maximize its revenue by
improving their competitiveness in the market (Centobelli, Cerchione and Esposito 2018).

3STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
Business Requirements:
1. Ascertaining key business process that is present with the operations of Eureka Limited:
The case study of Eureka Limited directly provides all the relevant information about the
business process that is affecting the productivity and revenue generation capability of the
organization. The relevant key business process depicted as follows.
Product development conducted by the organisation:
The case study of Eureka limited has indicated a relevant change in the product range of
the organization, which has been conducted on the basis of the customer demand. The company
has been altering their beverages in accordance with the demand from the customers to increase
revenue generation capability. Moreover, the analysis as indicated that the company is
introducing adequate beverages which is delivered all around different businesses, supermarkets,
and pub-chains, where adequate demands are persistent. Eureka limited has witnessed mix
fortunes during the past financial years and adequately increased its revenue generation
capability to the levels of 18.5 million per year. The company has been adequately improving its
products and delivering new items to the customers, which is in love with their current taste and
preferences. This has mainly allowed the organization to effectively improve the operations and
support its revenue generation capability. Moreover, the current highly demanded product of
Eureka Limited is the health drinks that are needed by customers, which has been a profitable
product in previous financial years (Kasemsap 2018).
Preparation of financial report, analysis and management:
One of the major key business processes of Eureka Limited is the preparation of the
overall financial report, as it allows the management to analyze the current financial conditions

4STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
of the organization. However, from the case study it could be identified that the company has
been maintaining a single accountant for the accounting system. This accountant has been
responsible for conducting all the relevant accounting needs of the organization, which can be
considered as one of the major concerns for Eureka Limited. The company has been generating
$18.5 million in revenues, which is considered to be an adequate some that can support relevant
expenses. However, the management is not considering the viability of an adequate accounting
system, which is limiting the capability of Eureka limited to increase competitiveness in the
market. This has resulted in a downtrend where the organization is incurring losses on the sales
due to the competitive pricing Structure of the competitors. Eureka Limited employees are not
able to identify the accurate pricing of the product to help in minimizing the level of pricing
which could boost the revenue generation capability. Hereafter, the current key business process
of Eureka Limited is not appropriate, as it is not supporting the operations of the management
(Archer-Brown and Kietzmann 2018).
2. Ascertaining Eureka Limited’s the major control risks for the business processes:
The case study of Eureka limited has highlighted the different control risk for the
business process, which is negatively affecting the operations of the organization. These business
processes are limiting the capability of the management to effectively improve its current
operational conditions and maintain adequate pricing structure to support its revenue generation
capability. The major control risk that is identified for Eureka Limited is depicted as follows.
Problems in accounting process of Eureka Limited:
The case study is highlighted the major control risk of Eureka Limited which is related to the
accounting process. The company is not able to identify all the relevant cost structures due to the

5STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
Limited levels accounting resources that are available to the management. Eureka limited has
been Operating only one accountant for their accounting system, which is limiting the capability
of the management to ensure adequate improvements and detection of the pricing structure
related to production process. The case study directly highlighted that Eureka Limited was not
able to complete a sales transaction due to the lack of adequate information about its current
competitive pricing structure. The competitive with adequate competitive pricing was able to
beat Eureka Limited and take the relevant sales transactions for them. This resulted in a loss of
revenue for Eureka Limited due to the inadequate accounting system that has been adopted by
the organization. Therefore, it has been established that the current accounting system is
inappropriate for the operations of Eureka Limited and alterations is needed to support the
management decision and other financial activities essential for the growth of the company
(Shanks et al. 2018).
Problems in the level of control in production:
The second major problem that can be identified from the case study of Eureka Limited
Is the control on their production system, as it is not allowing the management adequately
identifies all the relevant cost structure. Companies adequately improving its products and
altering the ingredients that are demanded by the customers, which are eventually helping the
management to acquire the required revenue to support it operations. However, without adequate
accounting systems the relevant costing that is steered on the production process are not
identified. This is limiting the ability of the management to control the relevant production, while
detecting the level of expenses that is incurred in the process. Therefore, it will be identified that
if Eureka Limited is able to acquire the required production control then the management can

6STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
have the capability to identify the overall cost structures and minimize the useless activities of
the production process (Ullah et al. 2018).
Problems in the inventory system:
The problems in the production system and the accounting system can directly affect
inventory system of an organization. Therefore, relevant problem in the Current inventory
system of Eureka Limited can we identify which might negatively affect the overall operation of
the organization. The maintenance of an adequate inventory system is essential for any
organization, as it allows the management to identify the level of expenses that is incurred in
inventory stockade. Therefore, identifying the level of expenses that is increased by the company
can directly have impact on its operational capability. Thus, the increment in storage of inventory
will directly reduce the working capital of an organization and negatively affects its operational
eligibility.
Systems Requirements:
1. Ascertaining features and functionalities of the possible accounting software that is
needed by Eureka limited for considering their business objectives and minimise the
control risk:
The analysis of the case study has directly indicated that Eureka Limited needs to adopt
adequate accounting software with certain features and functionalities that support operations of
the management. The key features and functionality that is required in accounting software is
relatively depicted as follows.

7STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
 Asset tracking is considered one of the essential features and functionality of an accounting
software which is needed by Europe Limited as it would allow the management to identify
all the relevant assets used in the production process. Moreover, the tracking process will
ensure that the management utilizes all the relevant information about the production process
which can help them to make relevant decisions regarding the current operational conditions.
 Payroll is also an accounting feature that is required in the accounting system of Eureka
Limited, as it will ensure the management about the relevant expenses that is incurred in
salaries and wages. The payroll system will reduce the level of time that is taken to analyse
the timesheet of each and every employee. The automated payroll system would in provide
all the details regarding the shift hours and overtime that is conducted by employees during
the financial month, which in turn will is the payroll process and improve the accounting
system of Eureka (Fiaz, Ikram and Ilyas 2018).
 Billing is one of the major accounting features and functionality that is required in an
accounting software as it allows the management to determine all the relevant expenses that
has been conducted during the financial year. The billing software also allows the
management to identify the element expenses in the production process that is essential for
Eureka Limited, as it will help in determining the Total production cost. Therefore, using the
building feature in the accounting software would allow the accountant to minimise the book
keeping records and maximize the level of efficiency in the accounting operations.
 Core accounting feature is essential in accounting software, as it allow the management to
identify all the relevant transactions that that is conducted by the company. The core
accounting settings directly support the accounting standard of the country in which the
operations of the company is being conducted. Thus, maintaining an accounting system that

8STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
supports the core accounting process would eventually allow the management to prepare
financial statements, which support the regional accounting standards. The core accounting
feature directly involves the journal entry, ledger entry, trial balance, profit & loss statement,
and balance sheet, as it helps in depicting the correct transactions and financial statement of
an organisation (Akhtar 2018).
 Budgeting is the second essential accounting feature That is required in accounting software
of an organisation, as it allows the management to identify the relevant resources that would
be needed in future operations. The budgeting software can highlight all the relevant Trend
and cost that is incurred by the company by analysing historical pattern. this detection of the
relevant cost through budgeting software would eventually allowed the management make
adequate decisions to minimise the expenses and maximize the level of income that it can be
generated from operations. Therefore, it could be understood that accounting software need
to have budgeting feature as it will allow the management to make relevant decisions to
support the growth conditions of the organisation.
 Forecasting feature is also essential for Eureka Limited, as it will allow the management to
determine the cost and factors that is affecting its production process. The software could
also identify the forecasting conditions that are affecting the future operations of the
organisation. Thus, with adequate forecasting the management can ensure the level of cost
cutting and profit that can be increased by the company in the long run (Aboelmaged 2018).
 Reporting is an essential accounting feature that is required by organisation to effectively
prepare all the relevant reports that is required for identifying its financial condition. The
report preparation feature would directly allow the management to detect all the relevant
financial statements, which provide information about the current operations and conditions

9STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
of the organisation. The reporting system would also ensure that the entire relevant standard
has been maintained during the accounting process for identifying the tax conditions that
needs to be paid by the organisation. The relevant reports that can be produced by the
reporting feature are production cost, inventory levels, profit levels, asset and liability levels.
 Inventory is the last accounting feature that is required in the software, as it will allow the
management to identify all the inventory stock level that is maintained in a particular time
frame. The inclusion of inventory levels in accounting software in would help in detecting
the level of process through which raw materials are converted to finished products. In
addition, the feature would also help in protecting the level of raw materials, unfinished
products, and finished products that are held within the inventory section of the organisation.
The management will able to gauge into the relevant working capital conditions of the
production process and identify the blockage that negatively affecting its production process
(Chofreh, Goni and Klemes 2018).
Software Requirements:
1. Identifying three accounting software package vendors and providing a brief description
of each vendor for its product by visiting the website:
Accounting Software
package
MYOB
ESSENTIALS
XERO NETSUITE
Platforms supported
Web based Yes Yes Yes
iPhone app Yes Yes Yes
Android app Yes Yes Yes
Windows Phone app No No Yes

10STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
Typical Customers
Freelancers Yes Yes No
Small Businesses Yes Yes Yes
Mid-size Business Yes No Yes
Enterprise Yes No Yes
Support
Phone support Yes No Yes
Online support Yes Yes Yes
Knowledge base Yes Yes Yes
Video tutorials Yes Yes Yes
Pricing
Starting from A$13.50/month $20/month $499/month
Free trial available Yes Yes No
No credit card required Yes Yes Yes
Free account No No No
Subscription based Yes Yes Yes
The above table provides information about the accounting software packages that is
provided by different vendors for or MYOB Essentials, Xero and NetSuite. The information
directly provides the relevant e supported platforms that can be provided by the accounting
software’s to the customers. In addition, the valuation also helps in detecting the typical
customers for which the accounting software is suitable. Moreover, the support conditions of the
accounting software with relevant pricing structure is adequately depicted in the above table
which can help in determining the best window and accounting software that can be used by
Eureka Limited. The analysis directly indicated that MYOB Essentials and Xero only support,
Platforms based on web, iPhone app, and Android app. On the other hand, the NetSuite Supports
all the four platforms, where the Windows phone app is also included. All the three accounting

11STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
software provide adequate support through phone, online, knowledge and video tutorial
(Kasemsap 2018). However, Xero accounting software does not include the phone support which
essential for Accountants to take relevant advice about different transactions. The pricing
structure has directly indicated that MYOB Essentials has the lowest in monthly subscription in
comparison to Xero and NetSuite. Nevertheless, the subscription of NetSuite is relatively at the
levels of $499/month, which is essential for the organization.
2. Ascertaining suitable vendor and accounting software package that can be used for
improving the accounting system of Eureka Limited:
MYOB ESSENTIALS:
The above table provides all the relevant information about the accounting software
MYOB Essentials ranging from platform supported difficult types of customers, support, and
pricing conditions of the vendor. From the relevant analysis, it could be identified that the
software is adequate for supporting the operations of Eureka Limited, as it has the lowest cost
per month that will be incurred by the organization. Moreover, the software directly supports all
the relevant platforms, which is currently being used by the employees of the organization.
Furthermore, the vendor also provides all the support levels, which is essential for any
organization, as it helps them to minimize the errors in their accounting transactions. Lastly, the
accounting software is Sophisticated enough to back the operations of Eureka Limited and
provide adequate support to the accounting system (Myob.com 2019).
XERO:
The Xero the accounting software is relative not adequate for Eureka Limited as the
vendor has directly indicated that the software cannot support mid-size and Enterprise size

12STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
organisations. This can be a major concern for Eureka Limited if the accounting software is
implemented in its operations, as it will limit the capability of the organisation to improve that
accounting process. Moreover, the pricing structure of the accounting software is also high in
comparison to MYOB Essentials, which directly indicate that the management should not
implement the software in its operations (Xero.com 2019).
NETSUITE:
In the similar instance, the analysis of NetSuite is mainly conducted in the above table,
where all the relevant details provided from the vendor is analysed. The analysis has directly
indicated that the software is too costly, for Eureka limited, while the operations of only
enterprises are included in the accounting software. Hence, the software need of Eureka Limited
cannot be fulfilled by NetSuite, as operations of the company are considered to be mid-business
size (Netsuite.com 2019).
Vendor Selection:
1. Equating and opposing the features and functionalities of two accounting software
packages offered by the accounting software package vendors:
Essential Features MYOB ESSENTIALS NETSUITE
API Yes Yes
Accounting Management Yes Yes
Activity Dashboard Yes Yes
Audit Trail Yes Yes
Automated Scheduling No Yes
Bank Reconciliation Yes No
Billing & Invoicing Yes Yes

13STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
Budgeting Yes No
Cash Flow Statement Yes Yes
Collaboration Tools Yes Yes
Compliance Management Yes Yes
Contact Management Yes No
Currency Conversion No Yes
Customer Database Yes No
Customizable Reporting Yes No
Data Import Yes No
Data Import/Export No Yes
Electronic Payments Yes Yes
Expense Claims Yes No
Financial Analysis No Yes
Financial Management No Yes
Fixed Asset Management No Yes
General Ledger Yes Yes
Goal Setting / Tracking Yes No
Inventory Management Yes Yes
Inventory Tracking Yes Yes
Invoice Management Yes Yes
Invoice Processing Yes No
Mobile Integration Yes No
Multi-Currency Yes Yes
Order Management No Yes
Payroll Management Yes Yes
Profit / Loss Statement Yes No
Purchase Order Management Yes No
Quote Management Yes Yes
Real Time Data Yes Yes

14STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
Real Time Reporting Yes No
Real Time Updates Yes Yes
Receipt Management No Yes
Recurring Billing Yes No
Sales Tax Management Yes Yes
Third Party Integration Yes No
The above table compares the overall essential features of MYOB Essentials and
NetSuite accounting software, which is selected for the operations of Eureka Limited. from the
element analysis it could be identified that using MYOB Essentials accounting software would
be much beneficial for the management as it supports all the relevant features and that is required
in the current accounting process. The accounting software directly in includes all the relevant
features such as bank reconciliation, budgeting, financial statements, inventory tracking, invoice
processing, payroll management, expense claims and many other accounting features. However,
some of the essential accounting feature and not provided by NetSuite, which is needed by buy
the accounting system of Eureka Limited. Hence, it could be identified that MYOB Essentials is
the best possible accounting software that can be used by Eureka Limited for improving its
current accounting system (Kitsios and Kamariotou 2018). Therefore, the valuation of the
essential features it could be identified that selection of MYOB accounting software is relatively
adequate for the operations of Eureka Limited. After the implantation of the accounting software,
the management can effectively identify the overall production and activity cost, which can
increase their competitive pricing strategy.

15STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
2. Recognizing suitable vendor and accounting software of Eureka Limited, which can
support its accounting system:
After analyzing both the essential features and accounting software packages that is
provided by vendors, MYOB Essentials accounting software is considered to be the most
appropriate system that can support the operations of Eureka Limited. Therefore, Eureka limited
with the help of MYOB Essentials accounting software can adequately improve the pricing
structure by minimizing the cost and expenses in the production process. In the similar instance,
the company can also utilize other features of the accounting software to improve its current
financial conditions and maximize the level of revenues from operations

16STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
Conclusion:
From the relevant analysis of the above assessment, it could be identified that Eureka
Limited needs an adequate accounting system, which can support its operations and minimize the
losses that was incurred due to inadequate accounting system. The relevant evaluation has been
conducted on three different accounting software’s such as MYOB Essentials, Xero and
NetSuite. Moreover, adequate information is provided about the accounting software’s has been
evaluated to identify the best suitable accounting system that can support the operations of
Eureka Limited. Therefore, the analysis directly indicated that MYOB Essentials accounting
software is the most suitable accounting system that can allow Eureka limited to perform all the
relevant accounting activities that is needed to improve its current operations and efficiency.
Accounting software selected for the organization also has all the features required By the
management for improving their decision making process. Nonetheless, the MYOB Essentials
has the lowest price and subscription costs, which will relatively reduce the expenses and
improve profits of the company.

17STRATEGIC INFORMATION SYSTEMS FOR BUSINESS
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