Saturday, October 19, 2019

Banking Software and Packages in Australia-Samples for Students

Technology has witnessed a number of transformations and advancements in the recent years. There are a number of tools and processes that are based on technology that have been implemented in the past. However, with the changes and transformations in technology, these tools and processes are also required to be upgraded. Such practices have allowed the business sectors to flourish at a rapid rate. One such industry is accounting and finance which has made an advanced use and application of technology and has been home to many transformations. There are a number of online retailers that have established their e merce websites and web applications to offer the services to the clients. Woolworths is one such Australian online retailer that deals in the product categories as groceries and household products. Organization structures make up for an essential part of the organizations. Woolworths has a three-layered architecture which prises of senior management at the top followed by middle level managers and department heads. The members of the operational team are placed at the last layer at the bottom (Woolworths, 2017). Human resources form an extremely important part of every organization. The success and failure of the organization and the projects that are carried out in the organization has a lot of dependence on the human resources. It is therefore required for the organizations to have an adequate culture and structure for enhanced employee satisfaction. There are issues of munication and collaboration that have been witnessed in case of the organizational structure that is followed at Woolworths. There are issues in terms of integration and cohesiveness that have also been observed (Henderson, 2004). In case of Woolworths, the information systems in the areas of accounting and finance can be acquired with the aid of a number of different methods. All of these methods have their respective sets of advantages and drawbacks. The one that fits the best is acquisition of Enterprise Resource Planning (ERP) software (Yang and Tamir, 2015). The current issues with the organizational structure will be avoided with the same (Mallery, 2011). The sales process in the pany is executed in four different stages. The initiation of the sales activities takes place keeping the business goals and objectives at the baseline. Gradually, there are opportunities and agreements that are carried out and explored which leads to the fulfillment of the objectives and results in the customer satisfcation (Gulledge, 2002). Control and monitoring is a necessity for all the activities and operations in all the panies and organizations. In the department of sales, there are issues with control and monitoring that leads to the emergence of a number of frauds and problems (Mohapatra and Patnaik, 2011). There is an i plete validation and verification of the pliance with the best practices that is observed that leads to numerous deviations. The quality of the end-product is therefore adversely affected. Accounting processes were largely paper-based a couple of decades ago. Gradually, there were developments in the technological areas that were carried out which led to the development of the technologies being used in the accounting sector as well (Seethamraju, 2012). Today, there are automated processes and applications that are being used for the execution of accounting activities. These automated systems not only ease out the entire process but also make the processes faster and more accurate in nature (James, 2016). There are numerous vendors and service providers in the market that provide the accounting packages and applications (Afpbb, 2016). There are organizations that are actively making use of such applications which has led to the growth of such vendors to over 10,200. There are over 138,000 resources that work in these organizations and the growth rate of the entire sector is estimated to go up by 8% by the end of this year (Bankwest, 2015). There are many accounting software and applications that are available in the market. One of the integrated solutions that are being used widely is MYOB accounting software that offers the following features and benefits. Intuit QuickBooks is an accounting software package that offers increased levels of system qualities and functionalities that lead to enhanced user experience. It offers the following features and benefits. There are many accounting software and applications that are available in the market. One of the integrated solutions that are being used widely is Saasu accounting software. The package offers flexibility and scalability to the users with the following features and abilities.   Reckon is an accounting software package that offers increased levels of system qualities and functionalities that lead to enhanced user experience. It offers the following features and benefits. Xero is an accounting software package that offers increased levels of system qualities and functionalities that lead to enhanced user experience. It offers the following features and benefits. Software/Package - Intuit QuickBooks $50 is the cost that the users will be required to pay to access the software for thirty days   $12 is the cost that the users will be required to pay to access the software for thirty days   $15 is the cost that the users will be required to pay to access the software for thirty days   $5 is the cost that the users will be required to pay to access the software for thirty days   $9 is the cost that the users will be required to pay to access the software for thirty days   $99 is the cost that the users will be required to pay to access the software for thirty days   $21 is the cost that the users will be required to pay to access the software for thirty days   $180 is the cost that the users will be required to pay to access the software for thirty days   Depends upon the features that are acquired    $70 is the cost that the users will be required to pay to access the software for thirty days   Technology is an element that cannot be missed out or played with in the current times. There are various technological elements that are used in the field of accounts with accounting software and systems as the prime element. These systems include the automated set of features and functions. These shall be included in an organization after an in-depth planning and analysis of the operations and requirements. Advisoryhq , (2015) 5 Best Small Business Accounting Software in Australia. [online] AdvisoryHQ. Available at: https://www.advisoryhq /articles/5-best-small-business-accounting-software-in-australia/ [Accessed 22 Aug. 2017]. Afpbb, (2016) The Australian Accounting Industry. [online] Afpbb.net.au. Available at: https://www.afpbb.net.au/Resources/TheAustralianAccountingIndustry.aspx [Accessed 22 Aug. 2017]. Bankwest, (2015) Accounting Services Industry Report. 1st ed. [ebook] Bankwest. Available at: https://www.bankwest .au/cs/ContentServer%3Fpagename%3DFoundation/CS/Blob/Document%26id%3D1292539844555%26ext%3D.pdf+&cd=3&hl=en&ct=clnk&gl=in [Accessed 22 Aug. 2017]. Carey, M. (2015) Cloud Accounting Overview 2015: MYOB Essentials vs Xero vs Intuit QuickBooks Online vs Reckon One - Digital First. [online] Digital First. Available at: https://www.digitalfirst /2015-overview-cloud-accounting-software/ [Accessed 22 Aug. 2017]. Crowder, C. (2016) [online] Techin.oureverydaylife . Available at: https://techin.oureverydaylife /disadvantages-accounting-software-1965.html [Accessed 22 Aug. 2017]. Gulledge, T. (2002). Business process management: public sector implications. Business Process Management Journal, 8(4), pp.364-376. Henderson, L. (2004). Encoding and decoding munication petencies in project management ? an exploratory study. International Journal of Project Management, 22(6), pp.469-476. James, D. (2016) 7 accounting packages for Australian small businesses pared: including MYOB, QuickBooks Online, Reckon, Xero. [online] BIT. Available at: https://www.bit .au/Review/344651,7-accounting-packages-for-australian-small-businesses pared-including-myob-quickbooks-online-reckon-xero.aspx [Accessed 22 Aug. 2017]. Mallery, M. (2011). Project Management Portal (PMP) from the University of Washington Information Technology Wiki - https://wiki.cac.washington.edu/display/pmportal/Project+Management+Portal. Technical Services Quarterly, 28(3), pp.365-367. Miller, K. (2016) Xero Review 2016 | Reviews, Ratings, plaints, parisons. [online] Merchant Maverick. Available at: https://www.merchantmaverick /reviews/xero-review/ [Accessed 22 Aug. 2017]. Mohapatra, S. and Patnaik, A. (2011). Sustainability in HRIS implementation through effective project management. International Journal of Project Organisation and Management, 3(1), p.78. Myob, (2016) Online Accounting Software for Businesses | MYOB. [online] Myob . Available at: https://www.myob /au/accounting-software pare [Accessed 22 Aug. 2017]. Ryan, E. (2016) The Evolution of Accounting Software: Past, Present and Future|. [online] Gaaaccounting . Available at: https://www.gaaaccounting /the-evolution-of-accounting-software-past-present-and-future/ [Accessed 22 Aug. 2017]. Seethamraju, R. (2012). Business process management: a missing link in business education. Business Process Management Journal, 18(3), pp.532-547. Woolworths, (2017). Woolworths Supermarket - Buy Groceries Online. [online] Woolworths Online. Available at: https://www.woolworths .au/ [Accessed 22 Aug. 2017]. Yang, Y. and Tamir, G. (2015). Offshore software project management: mapping project success factors. International Journal of Project Organisation and Management, 7(2), p.111.

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