Literature review is done based on the system of strategic information for an organisation based in Australia. The system for strategic information considered is the Accounting Information system and Coles is the organisation chosen for performing the literature review. The literature review is performed based on the prior organisational structures a well as the issues faced by the organisation in the accounting department for the absence of software in performing accounts job. In this review accounting information system like ERP and EAI are been discussed with internal issues that are been attached to it. The possibilities of fraud are also been discussed in this review.
Coles was been founded by Mr. George Coles in Melbourne at Australia in 1914. For more than ninety years the organisation has served with excellence. The company started as a small business in Melbourne and it expanded gradually over the coming years. The company became one of the most successful businesses in Australia and then it’s gained its establishment gradually. The company gained such success as the investors showed faith in them and Mr. George Coles applied the base strategic methods within the organisation. As Coles started to expand the business accounts became the heart of the business (Bellini, Pereira and Becker 2016). The structure of the organisation at that time did not have any accounting software that could help the staff of the accounts to perform the job.
Problem in operation Coles faced
The job of departments of account was done physically. Being such enormous retail construct organization reliance in light of manual working has a chance to prompt a burden for the organization. As there are immense odds of having some mistake in estimation as well as time taken for bookkeeping division will be substantially higher. The department of accounts was reliant on the great work of the bookkeeping representatives. As every one of the works were done physically in this manner, more number of representatives was required for leading the bookkeeping works. There will be some wastefulness and in addition mistake show in the work that may influence the procedure of business extensively. The usage of bookkeeping data programming will diminish the reliance on the manual work and the work should be possible twofold the quick rate of manual work (Schiff and Warren 2017). Also, number of representatives could be lessened as the work is been led consequently.
Acquisition of Accounting Software
In Australia on the Information Technology field there took place three movements for attempting a change on the process of accounting. Accounting programming were produced in this progressive development with the goal that organization increase a few points of interest and advantages. As bookkeeping fuses a great deal of estimation and in addition paper works in this way it is unavoidable that a few slip-ups will be conferred by the specialists and those errors could be deadly for the organization. Coles began utilizing programming like Peachtree and Tally as bookkeeping programming. Programming named Bespoke was in the creating mode as it took couple of months before it could be connected in the associations. Peachtree and Tally being business and also custom programming could be connected in the association (Davis et al. 2013). These two virtual products were easy to understand and it required negligible preparing for the record staff to get used to these programming projects.
The exploration demonstrates the issue confronted by accounts staff in the wake of actualizing these programming softwares. The divisions of accounts in Coles began utilizing this product made all the record books modernized. The issue confronted is however the division of records is keeping up the electronic configuration yet the data received by them from different offices is totally unique. It was additionally been watched that copy data were been roundabout where the instalments were at that point been made. In this way, copy solicitations were being created because of the some incidental blunder persevering in the framework. The division of Accounts began confronting lumbering assignment for compromise at the season of year end. The framework likewise observed that there was nearness of errors and for distinguishing and in addition diagnosing the irregularity it even requires greater investment. In this way the brought together framework is missing and information repetition misfortunes are the fundamental issues of this business and redid accounting data programming.
These softwares incorporate the nonattendance of business knowledge accordingly it was required in lessening of inconsistencies and incongruence. These product were been altered with the progressive disclosure of programming like enterprise system, which consolidates Enterprise Resource Planning, Enterprise Application Integration and Business Process Management. The primary point of ERP is to incorporate different applications and methodology of accounting with standard of the product. Along these lines, bookkeeping turned into the hugest piece of programming projects like ERP and EAI (Egdair, Rajemi and Nadarajan 2015). EAI points in coordinating the advancement exertion of wide utilization of big business. In 1980 working framework like UNIX, Oracle and SQL are been utilized for joining the rationale yet those frameworks are not been brought together. The discovery of ERP aids in centralising the system of organization as well as achieving the objectives of business (Amid 2014).
Then again ERP has disadvantages too. The fund amount needed for executing the arrangement on ERP system is very high. Also, if the execution of ERP is done unsuitably then every fund as wells assets will go in vein. The accomplishment rate in executing ERP is also low if the actualizing is done in an inappropriate way it can prompt disappointment (Al-Ghofaili and Al-Mashari 2014).
Sales Procedure flowchart
The flow chart depicts that how much the sale system is dependent on the software system. The Point of sales flow chart shows that starting from the new day till the end of day the business transaction is been done through POS. All the credit and debit cards could be used through this system. The transaction of cash as well as maintaining the ledger and voucher is done through the POS. In real time sales process the data of customer along with the subsidiary of inventory helps in providing the sales order system.
The significant issue of Accounting Information System is quality of data. It is a noteworthy part in reception of AIS. The level of data quality is excessively problematic for the associations. Specifically, the information quality level is essential for all accounting shapes, and altogether influences business fundamental authority. It must be seen that present day affiliations depend enthusiastically on the usage of accounting information structures for their accounting shapes (Porgo, Moore and Tardif 2016). Nowadays, associations constantly attempt to upgrade the capability and sufficiency of their operations for higher advantage and augmentation benefit. There is strong affirmation that DQ issues have transformed into an essential stress of relationship in which the progression of information stockrooms and the speedy access of information from different sources by supervisor and information clients have broadened the need of critical worth information in relationship to perform well, get high ground, and make due in today's general economy. Furthermore, bookkeeping and association basic leadership is obligated to the ambush of the Accounting Information Systems (AIS) with the connection's necessities (Ahmad, Ayasra and Zaideh 2013). Thus, connection ought to get learning of true blue information quality criteria for bookkeeping data structures decision to enhance work execution and what's more help relationship to make benefits.
The extortion by executing this product incorporates Misuse and Misappropriation of the advantages by changing the comprehensible and recordable documents of the framework. It should likewise be possible by adjusting the rationale of PC programming. The lucid data can be utilize and duplicate.
Accounting is thought to be centre of the business. Accounting programming is about the few modules of capacity that it contains. The capacity incorporates General Ledger, Accounts payable as well as Accounts receivable. Record for the most part manages the monetary angles, creditor liability bargains when the organization is entering the bill and the cash organization owes and debt claims bargains when the cash is received by the organization.
Adapting and Developing the Software
Various types of accounting software have been in use in Australia. The most used software are as follows:
Reckon, Intuit Quickbooks and MYOB
Reckon: It is significantly the best software programming for the organizations in Australia. It helps the bookkeepers and accountant clerks. It is been planned on the stage of cloud. It is one of the moderate mists bookkeeping programming that can be adjusted by the little and in addition medium organizations (Singh, Bansal and Jha 2014). It gives the interface on payment procedure where credit as well as debit card could be acknowledged with the assistance of cell phone.
MYOB: : It is additionally a standout amongst the most mainstream programming in the accounting field of Australia. The product means to discovers its utility more than that of the bookkeeping programming. The outline of stage was done such that it can be utilized to play out the bookkeeping capacities. It was been designed to the point that it expands the benefit and additionally taking better choice in the monetary operation of the business (Curtis 2014). The retail business in Australia like Coles utilize bookkeeping programming like MYOB is a great deal more valuable than store enlists. It has Kounta interface and gives exchange by purpose of offer, which help in coordinating the matter of operation.
Intuit Quickbooks: It is one of the mainstream programming that are in utilization as a part of the private venture of Australia. The two noteworthy critical components that prompted the ubiquity of the product are its cost for introducing and the second element is level of far reaching highlights that has been given by the product (Arachchi and Madurapperuma 2016). The proprietors of private company for the most part utilize this product for following their pay in business, benefits and in addition cost.
In Australia there are two monsters in accounting business that are contending. Xero is having a foundation in New Zealand and Quickbook online an Intuit of US-Based. QBO has built up comprehensively throughout the previous six years. In any case, the presentation of this product in Australia is later. Then again, Xero is as of now been running in the market of Australia throughout the previous three years and they are having astounding bookkeepers. Private companies support the utilization of Xero as it speaks with the clients at a more elevated amount. Xero in Australia has confronted an exponential development.
QBO Intuit has opened and propelled an inventive interface in Australia with a code name Harmony. The product is been included with Australian localisation the virtual products and in addition they have procured many number of staffs for their workplaces. They are likewise having ensured accomplices. They are pointing in equipping the battle in order to draw in the little and medium level organizations (Avietal et al. 2015).
Leader of Market
In Australia Xero already turn into the main market section that has gained the greater part of the organizations in Australia. The organization as of now started a vital choice by delegating the worldwide officials and additionally local supervisors. Xero has abnormal state of involvement in SaaS back (Nicolletti 2017). The organization extended the key associations that join the bookkeeping of independent company on the stage of Big Four and expansive bookkeeping brands inside Australia.
Xero incorporates competitive advantages of there expansive environment that hosts the arrangements of third party as well as they have been perfectly coordinated with the stage of Xero. The organization enables the matter of little size businesses to get receive with the incorporated arrangement of the business given by the bookkeeping programming framework (Cain 2015). It keeps working with close accomplices like Vend, Zen Payroll, Square and Receipt bank. 20% of the clients of Business version are utilizing the applications those are extra and about 40% of the business have taken the participation for the top notch items.
Xero is a cloud base programming has the difficulties for keeping the information safely and shields it from rupturing. Cloud based programming are giving huge insurance as well as security to the huge information of organizations. The security is imperative as online information is helpless and they can be hacked or misrepresentation that prompts the casualty of business. In any case, a hefty portion of the associations don't have the moderateness to introduce the more elevated amount of security. The workforce of the association ought to be prepared with respect to the product so representative can keep on working effectively. The benefits of cloud automation have not been taken by many organizations consequently the preparation of staff is troublesome (Correia and Alexander 2014).
The packages of software ought to be chosen in the wake of breaking down the necessities of the organization. A product seller is expected to exceed expectations the business. In the event that the business is just going to work in as sole dealer just Excel is required for recording the pay and also cost.
In the event that the business is establishing with Pvt Ltd Company then MYOB programming is required. Other programming like Xero and Saasu can be executed yet there are a few odds of bombing in usage of that product. In addition them two being on the web programming have a few odds of information robbery.
Ahmad, M., Ayasra, A. and Zaideh, F., 2013. Issues and problems related to data quality in AIS implementation. International Journal of Latest Research in Science and Technology, 2(2), pp.17-20.
Al-Ghofaili, A.A. and Al-Mashari, M.A., 2014, August. ERP system adoption traditional ERP systems vs. cloud-based ERP systems. In Innovative Computing Technology (INTECH), 2014 Fourth International Conference on (pp. 135-139). IEEE.
Amid, A., 2014. Organizational Levels Model for Measuring the Effectiveness of Enterprise Resource Planning System (Case Study TUGA Company, Iran). Universal Journal of Industrial and Business Management, 2(2), pp.25-30.
Arachchi, K.A.H.S.K.K. and Madurapperuma, M.W., 2016. Identifying the Issue by Using Audit Trail Report.
Avital, M., Damsgaard, J., Gregor, S., Te'eni, D., Tuunainen, V. and Willcocks, L.P., 2015, May. Mitigating the Tragedy of the Commons in Scientific Publishing: Creating a Market for Information Systems Articles. In ECIS.
Bellini, C.G.P., Pereira, R.D.C.D.F. and Becker, J.L., 2016. Organizational structure and enterprise systems implementation: Theoretical measures and a benchmark for customer teams. Information Technology & People, 29(3), pp.527-555.
Cain, A., 2015. International: Going global. Company Director, 31(4), p.52.
Correia, J.D. and Alexander, H., 2014. Big Data, Big Problem: Are Small Law Firms Given a Sporting Chance to Access Big Data. W. New Eng. L. Rev., 37, p.141.
Curtis, V., 2015. MYOB Software for Dummies-Australia. John Wiley & Sons.
Davis, M.P., van Dongen, S., Abreu-Goodger, C., Bartonicek, N. and Enright, A.J., 2013. Kraken: a set of tools for quality control and analysis of high-throughput sequence data. Methods, 63(1), pp.41-49.
Egdair, I.M., Rajemi, M.F. and Nadarajan, S., 2015. Technology Factors, ERP System and Organization Performance in Developing Countries. International Journal of Supply Chain Management, 4(4).
Hill, P., 2016. A new procedure for the development of bespoke software at Cork University Hospital. Physica Medica: European Journal of Medical Physics, 32(2), pp.417-418.
Nicoletti, B., 2017. Model and Classifications. In The Future of FinTech (pp. 31-79). Springer International Publishing.
Porgo, T.V., Moore, L. and Tardif, P.A., 2016. Evidence of data quality in trauma registries: A systematic review. journal of trauma and acute care surgery, 80(4), pp.648-658.
Schiff, A.D. and Warren, M.T., 2017. Implementing A Business Intelligence (BI)/Corporate Performance Management (CPM) Solution: Challenges Faced By A Major National Retailer. Journal of Business Case Studies (JBCS), 13(2), pp.63-72.
Singh, A., Bansal, R.K. and Jha, N., 2014. Open Source Software: A Big Leap in the Computer Education. International Journal of Computer Applications, 93(6).