Strategic Information Systems: Eureka Limited Case Study

This case study examines Eureka Limited, a company facing challenges in its business processes and accounting systems. The analysis begins with an overview of the company's operations, including its key business processes, such as inventory management and accounting. It then identifies major control risks associated with the current accounting software, including data loss, security breaches, and integration issues. The study explores the company's system requirements, focusing on features like data security, financial transparency, and tax compliance. The solution involves evaluating accounting software options from vendors like SAP, Xero, and MYOB, comparing their features and functionalities to determine the most suitable package for Eureka Limited, considering factors like cloud-based access, user-friendliness, and support. The report recommends specific software based on its ability to minimize control risks, improve efficiency, and meet the company's business objectives.

Case Study: Eureka Limited 1
<University>
Case Study: Eureka Limited
By
<Your Name>
<Date>
<Lecturer’s Name and Course Number>

Case Study: Eureka Limited 2
Table of Contents
Contents
Introduction......................................................................................................................................3
Body Section....................................................................................................................................3
Business Requireements..................................................................................................................3
What are the key business processes for Eureka Limited?..........................................................3
What are the major control risks for the business processes of the company?............................4
Systems requirements......................................................................................................................5
What are some of the possible accounting software features and functionalities that the
company should consider to achieve their business objectives and minimise the control risks? 5
Software selection............................................................................................................................6
Visit the websites of at least three (3) accounting software package vendors (e.g. SAP,MYOB,
Xero etc.) and provide a brief description of each vendor and its products................................6
Xero..............................................................................................................................................6
SAP..............................................................................................................................................6
MYOB..........................................................................................................................................7
Which category of accounting software (low, medium or high-end) suitable for the company?
Give your justifications in detail..................................................................................................8
Vendor selection..............................................................................................................................8

Case Study: Eureka Limited 3
Compare and contrast the features and functionalities of two accounting software packages
offered by accounting software package vendors within your selected category........................8
Differences...................................................................................................................................9
Which one would be the most suitable vendor and accounting software package for the
company and why?.......................................................................................................................9
Conclusion.......................................................................................................................................9

Case Study: Eureka Limited 4
Case Study: Eureka Limited
Introduction
This research report is a case study conducted on a company known as Eureka Limited.
Eureka Limited is a company owned by a particular family having over 73 workers or
employees. The company's sales revenue recently increased to over $18.5 million the previous
year. The company has been in operation for over 55 years and it deals in the supplying of
various beverages to various businesses such as pub chains, supermarkets and many others. The
Eureka Company’s orders have recently grown particularly in its new healthy product varieties
that it offers to its respective customers. However, the company has lost some fundamental
accounts due to its failure to avail some of its respective products at a competitive price to its
respective customers. Irrespective of the fact that the company has an accountant who is
responsible for book keeping in the company and the production of the company's yearly
financial statements, the company believes that, more information is required for running their
business in an efficient manner. More so, the company feels that they need to invest in suitable
accounting software in order to create way for the expansion and success of their business. This
report will therefore focus on evaluating and recommending suitable accounting software for the
Eureka Limited Company, (Eureka, 2014)

Case Study: Eureka Limited 5
Body Section
Business Requirements
What are the key business processes for Eureka Limited?
According to the company's current software, the company undergoes various business
processes in offering its respective services. According to the scenario provided, the company is
using the tally software particularly the tally ERP that is associated with various processes. The
tally ERP is one of the accounting software which different accountants today use in recording
various financial events and transactions. The tally software includes various business processes
such as inventory management, parole preparation, accounting, cost centre management,
multiple currency function, multiple go downs management and many others. As far as
accounting the Eureka Company Limited is concerned, the accountants employ the tally software
to conduct different accounting services. Accounting in this case involves a comprehensive
compilation of different financial related transactions of the Eureka Company. The main
accounting process in accounting as far as the Eureka Limited company is concerned includes
the reporting of different accounting information, which is later used in analyzing the health and
performance of the Eureka business. Accounting reports in the Eureka Company involves the use
of different generally accepted principles of accounting. The main subfields under the Eureka
accounting department comprises of include financial accounting, auditing, tax accounting, and
management accounting.
What are the major control risks for the business processes of the company?
The current Eureka Limited accounting process is associated with various control risks as
far as its respective financial processes are concerned. The company is currently subjected to a

Case Study: Eureka Limited 6
risk of data loss and intrusion. According to the current accounting processes of the company, it
is obvious that the accounting software that the company is using is offline software, which does
not support backup. Therefore, any possible mashap can result into complete loss of data of
financial information. Moreover, this software does not enable the retrieval of any lost data and
therefore it subjects the Eureka Limited company to a situation whereby it can lose its financial
data at any point in time. In addition to the above, Eureka Company's data can be intruded by
external parties at any time. Such an assertion is based on the fact that the company's financial
data can be replaced or modified by different people for personal interests. Such acts of fraud are
possible since without backup, the company's financial accountants cannot conduct cross checks
of their data at any time. The Eureka Company therefore needs to adopt accounting software that
allows a separate back up of data in case any financial information of the company is lost
accidentally.
In addition to the above, the Eureka Limited Company stands a risk of wrongfully
integrating its invoicing modules. Such an assertion is based on the fact that the company's
current software does not have any specific modules, which can be used as an extra feature
which results automatically when an already independently existing feature is bused. Moreover,
such software does not provide receivable or account payable and other necessary services unlike
other accounting software such as quick book. More so, such software works with very limited
customization. In situations where the company can decide to customize their respective
products for the clients, clients are unable to get the full package.
In addition to the above, the Eureka Limited Company stands a risk of facing multiple
software issues as far as its accounting processes are concerned. The company's current software
has a poor support system and therefore its respective users cannot effectively operate it. The

Case Study: Eureka Limited 7
accounting software further lacks good external supports in the market, which can be used in by
the company's accountants in the training processes of how best the software can be used.
Moreover, data retrieval is impossible in case the user loses the password hence creating
significant possibilities of data loss by the company. In addition to the above, such software can
easily lead to data loss in case the hard disk crashes or a computer virus is experiences. All such
issues imply that the Eureka Limited Company is prone to the risk of losing its financial data at
any time as long as it continues using such accounting software.
Systems requirements
What are some of the possible accounting software features and functionalities that the
company should consider to achieve their business objectives and minimize the control
risks?
There are various accounting software features and functionalities that the Eureka Company
needs to consider as far as the achievement of its business's objectives and the minimizing of the
control risks are concerned. Among these includes the data security as far as the software is
concerned. One o the company’s most valuable information is the financial data of the company.
The Eureka Limited company is current facing a problem of insecurity as far as its financial data
is concerned. The company therefore needs to ensure that it adopts accounting software, which
has a capacity of effectively preventing the company's most valuable financial data from being
lost. The accounting and finance software adopted by the company needs to be highly effective
and secure in nature, (Macpherson, 2016).
Another major accounting software feature that the Eureka Company Limited company has to
put into consideration is the financial transparency of the software. As far as the auditor's point

Case Study: Eureka Limited 8
of view is concerned, one of the major highlights of an effective accounting system is that it
should be able to prevent recurring and costly human errors. According to the issues presented in
the case, it is obvious that the Eureka Company’s financial software is associated with numerous
errors. The Eureka Company needs to ensure that the accounting software that they adopt is able
to make accurate calculations in the time available to avoid any business related crisis. More so,
the software should allow automated calculations in order to ensure that the financial
calculations of the company are done as first as possible.
More so, the Eureka Company needs to put into consideration the productivity of the accounting
software that it intends to adopt. The company needs to ensure that the accounting software that
it adopts improves the overall performance of the company. The accounting system that the
company adopts should be able to drill deep inside the company's most daily tasks, organize,
collect, and analyze its most sensitive financial data. Therefore, such software should be able to
help the company come up with the best financial decisions, (Bragg, 2016)
Another major accounting feature that the Eureka Company needs to put into consideration is the
tax compliance of the company. Most accounting software today is strongly dedicated payroll
reporting and assistance and therefore they automatically adhere to the different tax regulations.
Upon activation, different accounting software today becomes the company's number one source
of audit and tax information. More so, such accounting software stores the company's important
details to ensure that the company keeps or maintains a highly transparent workflow. Tax
compliance is a fundamental feature of consideration since it has various financial attachments
that could affect the operation of the company. The Eureka Company needs to ensure that the tax
regulations associated with the software they adopt is a fair one and that it can afford all costs
that relate to tax compliance.

Case Study: Eureka Limited 9
Software selection
Visit the websites of at least three (3) accounting software package vendors (e.g. SAP,
MYOB, Xero etc.) and provide a brief description of each vendor and its products.
Xero
The Xero software is accounting software, which provides its users with a cloud, based
accounting platform for both medium and small sized businesses. The Xero software was made
by the Xero Company, which is based in New Zealand Australia. The Xero accounting software
is a cloud based software in that it is not limited to the different computers that have the software
installed, (Harrish, 2012). Xero users are able to log in at any particular place using a mobile
application or an in browser. The xero software is efficient software for different businesses,
which do not follow the traditional kind of fixed office locations with a fixed company set up
and a company server,( Hamish, 2013). The Xero software prides itself on designs, which are
greatly visually engaging in nature. The Xero software's dashboard interface is designed in that
the user finds it easy to constantly check on what is happening in the business using an at-a-
glance presentation of information. The Xeri accounting software offers a number of features to
its users. Among these includes the possibility of the user to add any one to their platform,
Android and iPhone applications, connection to one's bank accounts and many others. In addition
to the above, this software makes it possible for an individual to easily create financial
performance budgets and reports at any time of their wish and it integrates with many other
business applications for various functions including time tracking and inventory,( Ruth, 2013).
The Xero accounting software further provides its users with a full time Xero support, which has
regular software upgrades and updates every month. Another important feature of the Xero
software is the fact that it offers its user with an SSL encryption, which keeps the user's

Case Study: Eureka Limited 10
information very safe. The Xero software further provides its users with various plans. The Xero
accounting software just like the other subscription-based packages of software has tiered plans
with every stage up in price accruing access to specific features inclusive of the different base
features that the software provides to its respective subscribers or users,( Fairbanks, 2019).
SAP
SAP accounting software is a financial reporting and accounting software, which records the
business transactions, and reports all the company’s financial operating data monthly or quarterly
and then helps in the analysis of such data, (Kenneth & Dina, 2012). The SAP accounting
software has played a key role in revolutionalizing the computerization of different systems of
accounting, enabling different companies irrespective of their respective sizes in the various
industries to improve the financial processing and data handling capabilities,( Ron, 2018)." The
major modules of SAP accounting software include reporting, accounting, accounts receivable,
and many others, (Decket, 2018). The SAP software today is associated with increased
efficiency, which allows its respective users easy data access and helps different managers to
make the best decisions as far as their businesses are concerned, (Dignan, 2016). The SAP
software makes it possible for different accountants of business managers to continue tracking
different events in their company without putting in many manual efforts. Through the SAP,
accounting software, the efforts, and the time that an individual spends on manual tasks is
transformed or directed to the business' more analytical activities, which helps business
managers make better decisions for their development. In addition to the above, the SAP
accounting software makes it possible for the different customers of a particular company to
connect to the company and place their respective orders in the shortest time possible. The orders
of different customers of clients are therefore processed in the fasted way possible and therefore

Case Study: Eureka Limited 11
protected from external factors such as delays and human errors. The employees of the company
or the company staff that has information technology and accounting backgrounds can easily
learn using the SAP accounting software, (Moshe, 2014). For a company that is newly adopting
the SAP software, the SAP vendor representatives have a role of implementing the software,
ensuring that it is adapted to the specific needs of the company, and training different personnel
in the company on how the SAP software is used,( Krause, 2019). The SAP accounting software
requires regular updating services to higher operating versions. Therefore, the company’s IT
infrastructure needs to be able to effectively support the software's capacity requirements and
therefore they need to also be upgraded after a given period, (Jochen & Bernhard, 2014). The
main objective of the SAP accounting software is to help a particular business be more flexible,
efficient, and responsive to the different needs of both its internal and external clients, (Neetha &
Stephan, 2014). The SAP accounting software can further be customized to provide many other
services in order to meet the different needs of the clients, (Ron, 2019). Each of the software's
accounting products has various adds-ons present off the shelf, which can be adjusted to meet the
different needs of the clients. The ASAP user can adjust it to offer various services, (Carlton,
2013).
MYOB
The MYOB Accounting software is simple software used in accounting for SMEs. The MYOB
software is simple software though it is fundamental as far as the business' workflow and
processes are concerned. The MYOB Accounting software helps the user automate all the
different financial processes of aspects associated with a particular business, (MYOB, 2015).
The MYOB Accounting software is both GST compliant and GST ready. The latest MYOB
Accounting software is compliant with the computer's software known as Windows 8, (MYOB,

Case Study: Eureka Limited 12
2017). The MYOB software lightens up the company's daily tasks through easily different tasks
of the company. The MYOB software helps the user view the different financial reports of the
company at any time of their wish. The software therefore provides its respective users with a
real time report, which provides them with updates on the sales figures, the cash and profit flow
and many other financial data hence helping them identify different areas of improvement as far
as the business is concerned,( R& G Technologies, 2014). The MYOB Accounting software
system is easy to use and suitable for different SME's which take part in numerous business
types. Individuals who have no knowledge on different accounting principles and concepts at all
to record their respective business transactions can also use the software. Every MYOB
Accounting software system is designed just like how its users would work and therefore the
user can create invoices, enter cheques, and make orders and many other tasks just like an
individual filling a blank sheet of paper,( Imprest Business Services, 2019). The different records
that the user enters and the changes that one makes using the MYOB accounting software will
instantly and accurately update the entire business ‘financial statement. The MYOB Accounting
software helps the user ensure that all the company’s information entered is recorded properly
for financial reporting and control. The MYOB Accounting software is both VAT and GST
ready for countries where such systems are highly applicable.GST countries such as Australia,
Singapore, Indonesia and others are commonly known for using this application. The MYOB
Accounting Software is commonly known by its users to be simple software used in accounting
since the software does a lot of accounting work for the users leaving them with adequate time to
focus on other fundamental issues such as marketing and sales.