Business Processes of a Bakery Business
Generally, the main aim and objective of preparing and conducting this research report is to understand, evaluate and access the key roles, significance, and importance of information systems and accounting software/packages. Moreover, this research paper would describe the business process/activities of a bakery business. On the other hand, business and systems requirements would be developed and determined in order to attain the key objectives of the study. In determining the systems requirements, possible software features or functionalities would be analyzed. Additionally, it would also provide a detail description about the vendors of accounting software such as: SAP, MYOB, Xero etc. Finally, a most suitable vendor would be selected for the bakery business.
Basically, a bakery business can be understand as a business that deals in making bakes, sell cookies, bread, rills, biscuits, crackers though oven as well as other heat source. In the same way, it can be said that, a baker is a sales person who engaged with the business of bakes and breads. On the other hand, it is also important to know that, the owner of a bakery business have to work under a much stretched schedules of production. In addition to this, it is accessed that, the business activities or process of a bakery business start from gathering the raw material from the local place or market and then makes these raw materials in finished products/goods to the end consumers. In addition to this, a wide range of bakery products are sold by the business owners of a bakery such as: muffins, cookies, pastries, pies, roll etc (Gitman, and McDaniel, 2007). These products prepared usually from the meal or flour. The bakery business is also deals with the process of cooking by dry heat and in some kinds of oven. In addition to this, it is accessed that, a bakery business owners is sells and promote their products/services to various pub chins as well as supermarket retail outlets. Moreover, the bakery business owner has a mixed group customers with the different products needs. The products are produced at bakery unit and these suppliers and sold to other businesses, shops, retail chain outlets. Along with this, it should also be noted down that, a bakery business is also characterized with different process such as: supply chain, production, marketing & sales, HR and Finance etc. The following given diagrams is shows the business process involved in the bakery business (Furht, 2010).
Develop Business Requirements
Develop Business Requirements
Indispensable Process: On the basis of business process of the bakery business, it is accessed and analyzed that, each and every business activities/process of a bakery business is indispensable and significant. For example, HRM, Supply chain management, production process and Accounting etc are the major and indispensable process within the company. But, finance and accounting is one of the most valuable and significant aspect of bakery business as it helps the company in making profit and it is a key to success for the bakery. In the current time, there is a rapid growth and improvements could be seen in the business of bakery. But, from the last few time, the business owners associated with the bakery are facing a lot of serious issues, challenges and problems in the area of finance and accounting (Daniel, 2011). For case, the business owners have to invest more time on improving the accounting functions within the company. They have to hire a team of skilled, knowledgeable and experienced accounting professionals and experts so that that they can understand the business and make specific decision for the success of bakery business. Additionally, bakery owners also have to spend much more money, time and efforts to hire such professional or experts that is very costly for the owners. Moreover, these professional could not take strategies decisions, competitive actions and make strategic plan for the bakery business. They can do only simple accounting task for the business. As a result, bakery business firms are required real time information in order to run business functions smoothly and accurately (Foster, Zhao, Raicu, and Lu, 2009).
Required Outcomes: As the bakery company/firm is facing different accounting issues so the company is required to adopt and implement accounting software or packages in order to run business functions more effectively. Moreover, it is accessed that, the bakery is also losing its customer base because it had failed in producing the products at the lower costs and competitive price than others. So, the company would need to focus on investing on the use of accounting packages or software. These accounting packages would allow the company to bring innovation within its current accounting process. These packages would also help the company to overcome organizational within the accounting process or practices by offering real time information. This would also allow the company to control and mange overhead costs and improve customer base and profitability. Finally, it can be said that, these packages would help the company in offering of clear view about the current and future financial position and strong of the organization (Goel et al., 2011).
Systems Requirements
The bakery business should involve and consider the services, features and functionalities of the possible accounting software and features in order to attain organizational IT investment objectives. For instance, first the company must understand the positive and negative impact of accounting packages/software on the current and future business performance. The company must consider both the aspects before using any software of packages. Moreover, the business owners should analyze the cost, benefits and opportunities associated with the accounting packages. In order to understand these factors, the company would have to conduct cost benefit analysis. On the other hand, the organization should also evaluate the major roles that would be played by the new accounting software or packages in the total success and improving the productivity of the firm. For example, the owner would need to access the speed, accuracy and other features of the possible accounting software (Griffin, 2009).
Moreover, the company should also need to analyze that how the new system or software would help the company in securing its financial, accounting, auditing and other information and data in a more innovative and systematic manner. At the same time, it would also be important to analyze how these new systems would assist the firm in reducing the overhead costs by minimizing organizational inefficiencies (Needles, Powers and Crosson, 2010). Additionally, the owner would have to analyze the motivational roles that would be played by the accounting software. For case, it has to access that, how the software would encourage the entire staff to attain long term goals and objectives of the firm (Kingslee, 2006). Functions and roles of such packages in preparing and developing financial statements would need to analyze. It means the speed; accuracy and timing related features of accounting packages would be considered in order to attain the IT investment objectives. Along with this, the bakery business would have to investigate that how the new systems would play a key role in enhancing the managerial decision abilities of the staff of the firm. Additionally, the company should also use such packages to generate accounting transactions effectively and properly (Grossman, and Livingstone, 2009).
Accounting Software Package Vendors: After visiting and analyzing the websites of the vendors of accounting software, it is analyzed that, currently, in the Australian software industry, MYOB, SAP and Xero are the major and leading players in the industry. These vendors are offering a wide range of applications, tools and software to the users so that they can overcome business issues and improves their profitability (Parsons, and Oja, 2012).
Software Selection
SAP: In offering of enterprise application software programs, SAP is one of the best and leading companies with the highest market capitalization rate than others. This SAP application is mostly used by the corporate clients or users such as business firms. The software application of SAP provides consistency of information through the systems. In the same way, the SAP is a highly integrated software application. Moreover, this software is allows the companies to manage and control the business functions related to the supply chain management. Through the effective use of this application, users companies can directly communicate with their customers or stakeholders and satisfy their needs (SAP. 2017).
MYOB: Within the Australian software market, MYOB is the largest and biggest company in term of market share and total profit that is offering a wide range of software applications to their customers so that they can perform their business functions related to accounting, finance, taxation, billing etc. Basically, this software is designed by the MYOB for the small and medium sized business firm not large companies. This software is more effective in term of providing real time data, accuracy and speed, cost cutting, motivating staff and reducing frustration (MYOB. 2017).
XERO: After the MYOB, it has maximum market value in the industry that provides cloud based accounting applications to the users. This is a company of New Zealand that is also working in Australia to solve the complex business issues related to accounting. The software of the company works on the application of software as a service (SaaS) model. This application is allows the users to conduct analysis about the financial performance effectively (Xero. 2015).
Category of Accounting Software:
|
Types of Accounting Software |
Category |
|
SAP |
High-End/ERP |
|
Xero |
Low and Medium |
|
MYOB |
Low and Medium |
Based on the above analyzed categories of the accounting software, it can be said that, the software with Low/Medium category such as MYOB would be suitable and appropriate for the Bakery business as per its size, needs, and business issues. For example, the Bakery business could not use SAP because it is suitable for the large companies and bakery is a small-medium firm (Harmon, and Auseklis, 2009). Moreover, in term of cost, SAP would be more costly for the company so it would not be affordable by the Bakery Company. Additionally, SAP could be used to run functions related to supply chain but the Bakery is facing the issues within their accounting functions (Shim and Siegel, 2005). On the other hand, XERO cannot be used by the Bakery business because of its limited functions, features, services and functionalities. This would not support the accounting and financial functions of the Bakery business. In the same way, the MYOB would be best software for the company in term of needs, costs, level, functions, features and services (Binu, and Meenakumari, 2012).
Features/ Functionalities of Accounting Software Packages:
The two major accounting packages such as MYOB & Xero are selected in order to access the differences and similarities among them in term of their services, functions and features.
Xero accounting software has ability to offer a complete picture about economic health of a company. But, MYOB is more powerful software application that helps the users to conduct and perform most complex business tasks associated with the accounting, finance and auditing. Moreover, MYOB is also allows the user to perform day to day tasks more accurately, effectively and innovatively (Morley and Parker, 2009). In contrast, with the help of XERO, the functions related to the supply chain, accounting could not be performed well (Kumar, and Lu, 2010). The service provided by the MYOB is based on cloud server that has ability to run various functions in a single time. Various options are provided by the company to users based on the cloud desktop. On the other hand, XERO helps the users to effectively conduct business functions. In addition to this, in the form of speed, accuracy and reliability, MYOB is much better than Xero. In addition to this, MYOB has more ability to overcome business challenges and inefficiencies in a well and effective manner. But, such types of services are not in the Xero (Brookson, 2009). MYOB is also more effective and powerful tool than the Xero because no one can access the information through the un-authorization process. For case, a third party can access information easily through the Xero. So, MYOB is free from hacking, fraud and other issues. Xero is not provides any back up services and functions but MYOB provides greater assistance in this segment. In term of support, MYOB is also effective because the user can get assistance through the telephone or emails. On the other hand, Xero do not provide telephonic assistance or support to the users. In term of cost, MYOB is very cost effectively as compare to Xero (Kerzner, 2010).
On the other hand, there are various similarities could be found in these two software. For example, both the software application is used for the same purpose for the same level of companies. Both the software can be used to run business and accounting functions more innovatively and effectively. Both have abilities to address and solve business issues in a more dynamic and effective way. In term of support, both the companies are offering technical support and assistance to their clients (Carol, 2009).
Based on the above discussion, and analysis, it is suggested that, bakery business firm must use and adopt MYOB accounting software as compare to Xero. It is because it is more powerful, cost effective, and innovative as compare to Xero and others. With the effective use of this, the company can overcome the current accounting challenges and improve business productivity (Monks, and Minow, 2008). MYOB would also allow the bakery to conduct their business functions in a more dynamic and innovative manner. For case, it would help the Bakery to collect the real time information in order to develop financial reports and transactions. This software would reduce the chances of fraud and potential security issues (Chu, Chen, and Cheng, 2011). Moreover, the company would be able to overcome human errors in calculating the transactions. Multiple documents would be generated by the company through the effective use of this software application. Along with this, it would also allow the company to bring innovation, accuracy, accountability, speed, flexibility, cost minimization etc. The company and its employees would be able to understand and access the discipline of the accounting standards. Overall, it can be said that, with the effective use of MYOB, the company would be able to overcome its current challenges, improve level of profit, revenue, market share and accountability in an effective and proper manner (Aiton, and Russell, 2011).
Conclusion
Based on the facts of the research study, it is summarized that, in the present time, it is essential and valuable for the business firms or companies to focus on adopting and using accounting software or information systems in order to being innovation within their accounting and financial functions. In addition to this, it is accessed that, MYOB, SAP, Xero, Recon etc are the major, common and most widely accounting packages that could be used by the business firms in order to support their business functions. Moreover, by using these, a company could attain competitive scope and advantages from the competitive market situation directly. Finally, it can be concluded that, accounting software or packages plays key roles in the success and growth of the business firms and directly affect the current business process and strategies.
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