Strategic Information System In Accounting Software Packages: A Literature Review

The Hierarchical Structure of Woolworths

The strategic management had been helpful for supporting the logical development of the organization (Arli et al. 2013). The management of accounting software packages has been helpful for providing the support in the financial operations of the organization. The deployment of the information system would be helpful for providing the access to the information system in the organization.

The following report had been made for providing an evaluation of the strategic information system in an organization.  The development of the technology for the implementation of the software package had provided the ease of software development in the organization.

The organization structure of Woolworths consists of a hierarchical structure that develops the formation of the smooth operations within the organization (Urwin, Dwyer and Carr 2016). There are number of individuals included in the organization and they form the management of operations and formation of an effective and smart leadership within the organization. The list of individuals in the organization is given below:

Table 1: List of stakeholders in Woolworths Organization

(Source- Woolworths Online 2017)

The included designations at Woolworths are Managing Director, Supporting MD, HR director, Finance Director, Customer Transformation, Chief Technology officer, Woolworths Loyalty, Marketing Director, Director Woolworths Supermarket, Director Woolworths Small Market, Director FoodCo, and Managing Director Countdown (Ranadheera et al. 2013). Each of the post is filled by a certain individual that would make sure that the operations of the Woolworths keep on going. The hierarchical structure of the Woolworths have been shown in the diagram below,

Figure 1: Hierarchical Strcuture of Woolworths

Source- (Ayvaz, Balaban and Kong 2017)

The director of Woolworths Supermarket is at the head of the organizational structure of the Woolworths. According to Ayvaz, Balaban and Kong (2017), the director is directly supported by the supporting director for the operations of the organization. Other department and department heads like Head of Format, Director Store, General Manager Digital, Strategy and Transformational Office, Director Buying and Merchandising, and General Manager Replenishment works under the guidance and vigilant of the director. The Director of Buying and Merchandising is in charge of the GM Commercial Support, GM Fresh, GM long life, and Pricing and COGS.

The hierarchical structure of Woolworths had been helpful for providing the ease of operations and management. However, the growth of technology had made it easy for the organization to spread its roots in global market. The extent of the operations in Woolworths has provided the requirement of the modification of the information system (Urwin, Dwyer and Carr 2016). The issues of Woolworths have been listed below,

Issues in Woolworths

Sales Decrement: The Company of Woolworths had faced the issue of loss of sales and decrement of the overall sales of the organization. It is important for the management of the operations (Woolworthsgroup.com.au. 2017). The overall decrement of the sales (from $37.32 to $26.99 billion dollars) had been resulted due to the lack of technological advancement and issues in functions and operations.

Loss in Market shares: The market share of Woolworths had faced some major glitches and downfall due to the market infiltration and loss in the market capture of the company. The loss in market shares had been resulted due to the growing competition and market sharing.

Employee retention: The attrition of the employees had been a major reason for the downfall of the employees. It is crucially informal for the organization to overcome the employee attrition rate within the operations (Yusuf et al. 2015). The employees that leave the company are a major source of threat to the organization.

The system acquisition method to be followed in Woolworths is the development of the ERP system within the organization. The Enterprise Resource Planning is helpful for providing the benefit of the better and more efficient factors for developing smart information processing and the formation of the most suitable development of the operations (Chua and Lam 2017). The system acquisition would be highly assisted for tracking the major components of the business organization, purchasing orders, payroll development, and cash flow management. The system of ERP had been helpful for forming smart transactions and flawless productions and operations. The improvement of the operations in the organization and more effective functions would be made by the help of the ERP system development.

Figure 2: Flowchart for the Sales Operations of Woolworths

(Source: Yusuf et al. 2015, pp-12149)

The flowchart for the operations of the Woolworths for the sales process includes the development of the operations and management of the operations. The formation of the flowchart would be helpful for modifying the development of the operations (Citovsky and Liu 2017). It includes the parts of supermarket, petrol, home appliances, liquor, and general merchandise. The operations of the Woolworths for the sales process include the modulation of the stores and head office for the operations. The head office would be modified for incrementing the processes to the purchasing process, accounts information, information technology, vendor support, and financial activities.

The control problems that can be faced by the managers of the Woolworths for operating the functions in the organization include the large size and complexity of operations. The ERP system is a modified technology and it causes some major flaws in the operations (EXO 2013). The Woolworths is a major organization that specializes in sales of retail commodities. The development of the ERP system would be managed by use of information system tools.

ERP System in Woolworths

The various frauds that could be faced by Woolworths in the deployment of the ERP system are security threats and data theft.

Security Threats: The security threats had been resulted due to the major flaw in design and system deployment of the organization. The threats had caused some minor flaw for the modification of the operations.

Data Theft: The data theft is a major flaw in deploying the ERP system for the modification of the organization. The data theft had been largely influenced by the alteration in the organization for the data and information stored.

Figure 3: Interface of the Reckon Software Package

(Source: Parate, Jain and Kim 2016, pp-25)

The software packages had been largely helpful for providing the benefit of the accounting information management. Deployment of Reckon software package is largely dependent on the operations of the organization and formation of the effective and smart technological development (Parate, Jain and Kim 2016). The modification of the movable organization had caused the formulation of the methods for considering the deployment of ERP system with accounting system. The accounting software packages had been constantly developing the operations of the organization and modification of the system deployed tools and options in the organization. The most suitable functions of the organization had caused the system development and modification of the appropriate tools and methods for operations within the structure of the Woolworths.

The current market size of reckon had seen a massive growth since the last few years. The development of the companies and use of Reckon as the accounting software packages had been largely helpful for supplying the benefit of the fast and agile compatibility of the operations in the organization (Darmawan and Nugroho 2016). The deployment of the Reckon software had formed an early development of the functions in the organization. The modification of the system developed tools and functions would help in assisting the congruent development of the functions. The following diagram had shown the quotient of growth of the use of Reckon in the organization,

Figure 4: Growth of market size of Reckon

(Source: Wasserberg, Kirsch and D Rowton 2014, pp-98)

The value of the quotient of growth of the use of Reckon in the business organizations had increased from 1.23 in the year 2011 to 2.35 in the year 2015 (Hill et al. 2015). The growth of over 80% had shown that the operations had been largely induced by the deployment of faster and more effective operations in the organization. The benefits of deploying the system are,

Reckon Software Package

Automatic entries- The accounting software package of Reckon would be helpful for management of the operations in the organization. The automatic entry would provide the benefit of the time saving for the operations of the accounting data management.

Balance calculation- The balance calculation would be helpful for the modification of the system developed operations and functions. The balance calculation would be helpful for providing the ease of modification in the operations of the organization.

The list of leaders of the accounting software package in the Australian Market is provided below,

Figure 5: Accounting Software Packages used in Australian Market

(Source: Liburd et al. 2014, pp-170340)

The various accounting software in the Australian Market are Saasu, Xero, MYOB, Reckon, and Intuit (Ranadheera et al. 2013). These accounting software packages are helpful for providing the benefit of the faster and easier accounting software packages for the organization. It is possible that the development of the technologies would provide a platform for integrating the operations of different packages. However, currently Saasu, Xero, and MYOB are leading the operations of the accounting software in the organization.

Figure 6: Market analysis of Australian for Software Packages

Source- (Yusuf et al. 2015, pp. 12161)

Advantages of the Accounting Software Leaders: The organizations of accounting software gets the benefit of keeping the data and information of accounts aligned to the functions of the system (Choong 2016). The development and implementation of the system would provide ease of manipulating the processes of the organizations for the benefit and management of accounting software package. According to Bradshaw, Pulakanam and Cragg (2015), the advantages of the leaders of accounting software package companies are,

1. Extent of the market
2. Technological development
3. Use of social media marketing for increasing the number of customers

The gaps and challenges of using Accounting Software packages include,

Flaw in Design of implementation- The flaw in the design of implementation of the software packaging include the minor glitches that is faced by the organization in deploying faster operation by the organization.

Complexity of operations- The complexity of operations had been largely forming negating the deployment of the accounting software packages.

Security threats- The security threats would result in negating the deployment of the accounting software packages. The threats would harm the organizations for managing their database and organization.

Recommendations for operations: Some recommendations had been given for providing the benefit of better deployment of accounting software package,

1. Simple Procedure: The simple procedure of the organization development would be largely helpful for providing the benefit of the easy installation.
2. Data Security Measures: Security of the data would be helpful for forming effective and smart development of the ERP system and accounting software packages for the organization.

Conclusion

It can be concluded from the report that the deployment of the accounting software package had been largely provided for the development of the operations of the organization. The study had been crucial for managing the crucial information in the organization and development of the best possible system within the organization. The accounting software package had provided the ease of faster deployment of the accounting software package. The study had proved the modification of the operations in the organization.

Current Market Size of Accounting Software Packages in Australia

References

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