HI5019 Strategic Information System Group Assignment
HI5019 Strategic Information System Group Assignment T3 2019 Friendly Supermarket Case study
|Assessment Details and Submission Guidelines|
|Unit Title||Strategic Information Systems for Business and Enterprise|
|Assessment Type||Group assignment|
|Assessment Title||Case Study – Friendly Supermarket|
|Purpose of the assessment (with ULO Mapping)||Students are required to: Appreciate the purpose of computer controls and auditing in digital economy (ULO 6)Describe the processes use in the development of computer-based systems/ERP and the ways in which processes are managed (ULO 7)|
|Weight||30% of the total assessments|
|Word limit||Not more than 3,500 words|
|Due Date||Week 10, Friday 5:00 pm (AEDT)|
|Submission Guidelines||This assignment is to be completed by a group of 2 – 4 students.Students must report the names and student IDs for all group members to the lecturer of their class by e-mail before the end of week 8.All work must be submitted on Blackboard by the due date along with a completed Assignment Cover Page.The assignment must be in MS Word format, no spacing, 12-pt Arial font and 2 cm margins on all four sides of your page with appropriate section headings and page numbers.Reference sources must be cited in the text of the report, and listed appropriately at the end in a reference list using Harvard referencing style.|
Background HI5019 SIS
Friendly Supermarket is a Queensland-based supermarket chain. It has been in business for over 25 years and operates 8 supermarkets at Brisbane, Gold Coast and Townsville. The company has experienced a decline in sales and profit over the last three years and the senior management team believes that a better understanding of the market and customers is needed to reverse the trend.
Required HI5019 SIS Assignment
The senior management team of Friendly Supermarket has instructed you to prepare a report to evaluate and recommend a Business Intelligence (BI) software for the company. The report should include the following components:
- Business requirements
- What are the key business processes for Friendly Supermarket?
- What are the major control risks for the business processes of the company?
- Systems requirements
- What are some of the possible BI features and functionalities that the company should consider to achieve their business objectives?
- Software selection
- Visit the websites of at least three (3) BI vendors and provide a brief description of each vendor and its products.
- Vendor selection
- Compare and contrast the features and functionalities of two BI software packages offered by the three vendors described in the report.
- Which one would be the most suitable vendor and BI software package for the company and why?
Assignment Structure Hi5019
The report should include the following components:
- Assignment cover page clearly stating your name and student number
- A table of contents, executive summary
- A brief introduction or overview of what the report is about.
- Body of the report with sections to answer the above issues and with appropriate section headings
- List of references
The report should be grounded on relevant literature and all references must be properly cited and included in the reference list.
HI5019 SIS Friendly Supermarket
Marking criteria HI5019
|Key business processes for Friendly Supermarket||4%|
|Major control risks for the business processes of the company||4%|
|BI features and functionalities that the company should consider||5%|
|Description of BI vendors and their products||5%|
|Comparison of factures and functionalities of two BI software packages||4%|
|The choice of BI software package for the company||4%|
|Key business processes for Friendly Supermarket /4||Identify all key business processes for the company.||Identify most key business process for the company.||Identify most key business processes for the company with minor errors.||Identify some business processes for the company with errors and/or omissions.||Fail to identify any key business process for the company.|
|Major control risks for the business processes of the company /4||Identify all major control risks for the business processes.||Identify most major control risks for the business processes.||Identify most major control risks for the business processes with minor errors.||Identify some major control risks for the business processes with errors and/or omissions.||Fail to identify any major control risk for the business processes.|
|BI features and functionalities that the company should consider /5||Present an excellent discussion on features and functionalities of BI that the company should consider.||Present a very good discussion on features and functionalities of BI that the company should consider.||Present a good discussion on features and functionalities of BI that the company should consider with minor errors and/or omissions.||Present a discussion on features and functionalities of BI that the company should consider with errors and/or omissions.||Fail to present a proper discussion on features and functionalities of BI that the company should consider.|
|Description of BI vendors and their products /5||Present an excellent description of BI vendors and their products.||Present a very good description of BI vendors and their products.||Present a good description of BI vendors and their products with minor errors and/or omissions.||Present a description of BI vendors and their products with errors and/or omissions.||Fail to present a proper description of BI vendors and their products.|
|Comparison of factures and functionalities of two BI software packages /4||Present an excellent comparison of factures and functionalities of two BI software packages.||Present a very good comparison of factures and functionalities of two BI software packages.||Present a good comparison of factures and functionalities of two BI software packages with minor errors and/or omissions.||Present a reasonable comparison of factures and functionalities of two BI software packages with errors and omissions.||Fail to present a proper comparison of factures and functionalities of two BI software packages.|
|The choice of BI software package for the company /4||Propose a choice of BI software package based on very strong arguments.||Propose a choice of BI software package based on strong arguments.||Propose a choice of BI software package based on reasonable arguments.||Propose a choice of BI software package based on weak or inadequate arguments.||Fail to propose a proper choice of BI software package or back the proposed choice with valid argument.|
|Presentation /2||Report included all elements and was very well presented. Writing flowed clearly and sections were linked very effectively. Referencing was exemplary. English was used very effectively and was error- free.||Report included all elements and was well presented. Writing flowed clearly and sections were linked effectively. Referencing was of a high standard. English was used effectively with very few errors present.||Report included all elements and was generally presented appropriately. Writing mostly flowed well and sections were linked. Referencing was in accordance with guidelines. English was used effectively with few errors present.||Report included most elements and was adequately presented. Writing sometimes did not flow clearly leaving the paper to seem disjointed in areas. Referencing was somewhat in accordance with guidelines. Basic English was used with some errors present.||Report lacked some elements and was poorly presented. Writing often did not flow clearly leaving the paper to seem somewhat disjointed. Referencing was not entirely in accordance with relevant guidelines. Basic English was used with errors present.|
|Research Quality /2||An extensive amount of high- quality evidence from peer- reviewed journal articles and other sources was included and used effectively to support discussion.||A broad range of quality peer- reviewed journal references and other sources was included and used effectively to support discussion.||An adequate range of peer- reviewed journal references was included and used to support discussion.||An adequate range of peer- reviewed journal references was included and used to a basic extent to support discussion.||Little or no peer- reviewed journal references were included and these were rarely used to support discussion effectively.|
HI5019 SIS Group Assignment Sample Assignment T2 2019
For any business organization, it is important to have adequate control over its financial activities in order to ensure maximum controls over perceived risks and to be able to attain eloquent business growth. In the following report, an assessment regarding the suitable accounting software for an enterprise will be provided on the basis of the particular areas of concern expressed by the recent business outcomes of the company. With the help of a wide range of academic literature, different accounting software and their functions and benefits will be highlighted as well.
Executive Summary: 1
Business requirements: 3
System Requirements: 5
Possible Accounting Software Features and Functionalities for the Company to Achieve Business Objectives and Minimize Control Risks: 5
Software Selection: 6
Sage 50cloud. 8
Suitable Accounting Software for the Company: 8
Vendor Selection: 9
Comparison between Two Selected Accounting Software Packages Offered by Account Packet Vendors: 9
Suitable Vendor and Accounting Software Package for the Company: 10
In the following report there will an analysis regarding the Strategic Information System i.e., SIS. This strategic information system was created for the betterment of the business organisations. This system is meant to give out a sense of advantage in competition with the other organizations. This system helps in consignment of products and services which is at a minimal cost, which is distinguished, which targets a certain segment of the market which is innovative in it’s nature. A Strategic Information System is a computerised information system that helps in marketing strategies of a business organisation; it is a system which provides services from gathering information from several resources which are then enforced to strategize the opportunities present in the business organisation where the computerised information systems impact the products of the said organisation and it also affects the operational business. Strategic information systems are a kind of system which was developed in order to help strategizing the joint business action. The concepts in a lot of famous situations were brought up by people from the services of information, even if it was pointed out to certain business of the corporate world. However, these concepts arrived from the people who deal with operational business, where the services of the Information was provided according to the capabilities of the technology to bring out the results that are profitable. Financial systems are the basic computerization of the accounting, budgeting, and finance operations of an organization. The SIS look after the Financial systems which determines the market of a company which is on the basis of all the other systems a company is dependent on as they provide a familiar, composed assessment of the projects and operations, and provides credible statistics for the indication of bureaucratic success. The business planning ought to be related to financial analysis.
Beverage organisation like Eureka Limited requires an Enterprise Resource Planning that helps in adapting to the specific requirements for manufacturing of healthy products. The ERP contains the management skill required in the process of manufacturing in order to salvage time and money by increasing the working hours of the staff. It gives accuracy insurance, looks after the productivity of the organization, the identification of the weak links and therefore the automation of the supply chain management comes to play. In the production procedure of the company the Eureka Limited emphasises a lot on the ingredients that are used in the making and also keeps in check regarding other resources required (Storey, et Al. 2016). This abovementioned process also works as a data for the company to figure out the amount required to make each batch as the required sources are monitored for the proper output of the company. The plans made by the Managers analysing the requirements of human capital requirements that effect the automated system by using tasks that are related to the administrative procedures or calculating taxes this where the ERP comes into play by reducing the human error and increasing the efficiency with diminishing the losses in finance that is because of the inaccurate computation.
The company focuses on the performance of the Employee through management. The Eureka Limited also focuses on the management of the resources. The food and beverage industry is required to have their own management teams for their sales and for keeping an account of their suppliers. The small scale companies use technology to keep track of the data collected to manage the stock. This is in order to only have stock as per the customers demand and to not over compensate the stocking of the company which brings financial losses. (Nguyen, et al., 2015)Everything is managed to save the time and money in this competitive line of work. The supply chain management is the other key requirement a company must have. The supply chain management is responsible for the distribution, procurement and planning in a company. It isn’t of concern if the company is a large scale one or is a small scale one, supply chain management is a must have always.
The small scale companies like Eureka Limited find it costing to invest in proper research and development sectors of their company. Therefore they find it difficult to compete with the bigger companies which have better management and research and development sectors to work with. The company must keep in check of the packaging of the product, the quantity that is to be sold, the quality of the said product, especially when it is a product that is consumed orally or is meant to be drunk or eaten. The small scale faces problems in maintaining the above requirements. The company also should have the products lab tested for making sure it is safe for consumption, it should also carry a disclaimer note on the packaging for awareness regarding allergic reaction it might cause to people. The company also suffers lack of proper employees who are efficient at their work. The Eureka limited only has about 73 employees, which doesn’t fulfil the requirements needed for management skills and the promotional activities of the company. The company tend to be overwhelmed with the market demand and often take on projects of products way out of their current league. The company stumbles when the customer demands become out of the ordinary and therefore makes company lose track of what they were aiming for. The weak management teams affect their operational output in the market. The company also faces losses because of the over compensation and inability to live up to the customer demands and satisfaction.
Possible Accounting Software Features and Functionalities for the Company to Achieve Business Objectives and Minimize Control Risks:
There can be pointed out a number of ways with which accounting software can help any business to get a grip of their financial data and optimisation of business can be enabled with the use of such software which connection to their functionalities and features. For Eureka, the following factors important to consider in order selecting the correct software to help the business initiative of the company.
Accounting: It is natural that superior accounting capabilities of the software can be pointed out as the first priority for Eureka, considering their requirement of ready availability and accuracy of information. The process of accounting and the range of information may include the supply of data regarding accounting payables and receivables, reconciliations of the Bank and fixed assets (Singh, 2016). The software is required to be capable of both the mundane and advanced accounting.
Budgeting and Forecasting: budgeting and forecasting features are quite common in most accounting systems that are available in the market. These features will enable the company to interpret the outcomes of their business initiatives and calculate the performance of the financial sector. Along with it will also be able to estimate the next year’s budget.
Billing and Invoicing: the billing and invoicing processes associated with the accounting software will health clients in automating the collection, set the financial operations in accordance with the most efficient methods of payment and the standards of the operation industry, formulating timely and appropriate invoices for customers (Kacharava, 2015).
Expense Management: As an SME, the company needs to keep its expenses in check. The accounting software, for this purpose, will have to readily provide information regarding any deviations from the budget for ongoing projects.
Payroll Management: Eureka currently has 73 employee but over the last few years it has performed well financially and therefore expansion is not unlikely for the company to consider. With that initiative payroll management can be seen as a necessity in order to maintain proper employee payment dealing. The software, thus, required to have capabilities of calculating and processing payment and imprinting the checks timely with due attention towards tax related matters (Kacharava, 2015).
Fixed Asset Management: The issue fixed asset management holds special significance in case of Eureka. Efficient management of fixed assets leads to the deepening of comprehensive knowledge regarding financial information. As this aspect of different software is comprised of components like cost records, allocation of resources, audit history, and calculations regarding depreciation; the management of financial data becomes more systematic and more easily accessible.
Inventory Management: Being a company that deals with food and beverage, the subject of inventory management remains to be relevant one for Eureka. Therefore the company needs such accounting software which will include tools for setting up proper processes for stock controlling, and for providing the business with much elevated shelf-life of products (Wongsim and Hongsakon, 2015). This will enable the company to accurately judge the availability of different products so that all kinds of issues regarding delivery and over or under stocking can be avoided.
Every Company requires a set of accounting software that is necessary for the vendor selection required by the company. Given below are few that are known and responsible for vendor selection of several companies and what might be suitable for the Company Eureka Limited.
Xero: Xero is an on the go accounting software that makes it easy for entrepreneurs who like to have track of their business while in motion. The accounting software Xero allows the company to customise their invoices that they send, they keep track of their suppliers and the inventory along with it, and the accounting software is also very useful in the creation of the orders for purchasing in accordance to the attachment of the bills (Hillary, et al. ,2017). This entire transaction is possible from the cellphones or the tablets and is fit for both iOS and Android phones or machines. The accounting software provides fantastic performance of the finances by keeping track of the finances and reporting to the entrepreneur directly. The finances are directly linked to the banks so the data of the transfers and transactions are informed instantly.
SAP: SAP is accounting software that provides accounting programs that is suitable for all kinds of business and is inclusive of all the sizes the companies come in. The accounting software is suitable for large scale, medium sized to small scale businesses. Infact the freelancers are also known to use this accounting software diligently. The SAP offers Business One which is accounting software for small scale businesses and the enterprises that are medium-sized. (Felter,et al.,2019)This accounting software provides various options with various versions that are customized in correspondence to the entrepreneurs. The accounting software is meticulous in handling different industries and also careful of the international usage of the software by being aware of the tax systems. This saves the companies the hustle and hassle of figuring out the way to branch out internationally. The accounting software looks after the high end approaches the company might invest in with the product quality kept in mind. The software is a pro at the management skills by managing the internal relationship amongst the employees also being aware of the customers’ demands; it also manages stockage and the warehousing of the company. It is available as an app, therefore can be useful through phones which help monitoring the businesses whenever the entrepreneur pleases.
MYOB: The accounting software MYOB Essentials is an accounting programming available online for various businesses of all kinds and of various sizes. The software provides management of taxes, payroll management, invoice management, reporting transactions and expenditure management as tools the companies could use. The programming is accessible online by downloading the app MYOB OnTheGo available on iOS and Android. (Zhang, et al., 2019) The app is useful as it shows the transmission of the cash through managing the payroll and the billing, the invoices linked to the accounts. The software looks after the necessary taxation, and since the app is Cloud based it looks after the storage and also updates the entrepreneurs regarding the taxes. It offers tools for tax management, invoicing, payroll, expenses and reporting. The management of the module of payroll stores the information of the employees which is used for the management of the payroll. The employees are sent their respective payslips via email. The accounting software MYOB allows its accountants to perceive the taxation and the invoices and also creates budgets that are profitable for the enterprise.
Sage 50cloud: The accounting software Sage is sought after by the businesses that are small-scale to medium-sized. The software takes away the trouble of administration duties such as the payments, invoices, taxation, expenditure etc. The app though does not provide the tracking of time and tools regarding Collaborations and the payroll management are a separate product bought together with the accounting software.
OneUp: It is an double-entry accounting programming, this accounting software is extremely useful for the management of the inventory and the supplies along with the pricing of the products of a company. It links the necessary details to the entrepreneur’s bank and helps in accurate entries at the said bank and provides taxation information too.
Suitable Accounting Software for the Company:
Eureka, as per the requirements of the company that can be obtained from the aforementioned features and functionalities for their accounting software, should consider need to high range accounting software with elaborate toolkit for enterprise resource planning. In order to manage the current healthy business performance and business growth of the company the entire base of financial data should be accessible to it at any point of time with regards to their project planning and regular business operations. Enterprise resource planning processes include various aspects of finance Management such as accounting, distribution, control and management of inventory, raw material purchasing, product planning etc. (Aleqab et al, 2015). Moreover, enterprise resource planning systems ensure the profession of business intelligence show that any enterprise can become capable of learning from its previous best practices and come up with more strategic control for their upcoming operations. Added to that enterprise resource management systems enable companies to proceed significantly with their initiatives regarding risk management in their operations due to the fact that the past records and accurate forecasting of the software regarding specific projects deals with making the users aware of the perceived risks. However, it needs to be mentioned that the suitable accounting software for Eureka would require facilities of third party integration in order to insurance open infrastructure for gaining support of special expertise from time to time (Blount et al, 2016).
Therefore, it is only natural that the accounting software Eureka needs will have to function in a various different ways to provide the company with all the information that it needs in order to facilitate a successful business growth and expansion. Highest database accounting software that function ably for a number of large corporations has to be installed for the company as well. With the much needed support from the high-end accounting software, Eureka will not only become self sufficient in all its financial activities but also administering total control over possessiveness will enable the company to engage in competition with bigger companies and observe expansion measures.
Comparison between Two Selected Accounting Software Packages Offered by Account Packet Vendors:
The two selected accounting software, for Eureka, can be pointed out as SAP and MYOB and a comparison between these two software is as followed:
MYOB: MYOB Accounting Right Premier is the proper name of the accounting solution that is offered by the vendor MYOB. Time efficient performance of a number of much needed and relevant functions can be considered the major benefit that the software has to offer. Various functionalities of the software includes, strong characteristics of any accounting software, payroll and cash flow management, third party user integration, efficient synchronisation, able inventory management and most importantly flawless system. As far as the pricing of the software is concerned, the solution costs around 1,849 dollars (Verghese et al, 2018). This accounting solution can be utilise both as the part of the package through the process of membership and also individually. However, the option membership can be seen as more suitable for the as it will make the company gain technical support whenever needed. Up-gradation of the software also can be availed with the membership option.
SAP: First of all, it needs to be mentioned that there are several features of the software offered by SAP that are close to that of MYOB’s. The special features however include its availability in different languages, its capabilities of process different currencies, efficient facilitation of the process of integration among active departments, capability of sales cycle time period reduction etc. Along with this, strong and accurate functionality of accounting fundamental features, cash management, improvisations regarding overall performance of the company can be pointed out as the more common features of the software. Major benefits that accompany the installation of the software foreign number of multinational corporations relate to cost monitoring, easy compatibility with associated devices, supervision on the ongoing project development, enhancement of IT services, more thoughtful use of company resources, excellent application processes regarding hardware and software etc. (Katamba et al, 2017). The SAP software belongs to a particularly high range with regards to its pricing and it costs between 6,000 to 7,000 dollars. Its popularity and utility in context of multinational corporations can be judged from the expensive pricing.
From the above descriptions of the software offered by two of the selected vendors MYOB and SAP, it can be obtained that while MYOB has a more reasonable pricing an is quite capable of running all the required functions of accounting software for small to medium sized enterprises which are looking forward to ensure performance growth, SAP is specially designed for search large corporations which have invested huge amount of money for their expansion endeavours and are known to operate in a vast market. The inclination towards helping the businesses which have preceded with internationalisation initiatives is prominent in SAP from its availability in more than one language and its capability to deal with more than one currency. This factor is missing in MYOB and it can be pointed out as a limitation of the software (Venkatraman and Fahd, 2016). However, as far as the presence of efficient and strong tools of fundamental accounting systems and other processes associated with different operations of businesses are concerned, both the software known to work efficiently in making the users aware of the risks and enable them to have more control over the financial dealings of the company.
Suitable Vendor and Accounting Software Package for the Company:
For Eureka, with regards to its particular areas of concerned such as risk management and proper inventory management in order to ensure budget requirement, along with that, most importantly getting ready availability of financial information regarding the entire operations management of the company, it would be appropriate to consider the accounting software MYOB Account Right Premier offered by MYOB. From the above discussion regarding the functionalities of the software it can be obtained that MYOB’s software will be adequately capable of responding to the needs of the company. This in part, is the software not only this place powerful accounting features but also help with issues including cash flow management, payroll management, access to multiple users, and most importantly inventory management (Spraakman et al, 2015). Added to that, the software is not even as expensive some other high end software, which cost more and also provide an advanced range of facilities.
It may be surmised, that with the help of the software by MYOB, Eureka will become strong as an organisation from the perspective of performance. However, expense management can be seen as another risky terrain for the company as there are several such SMEs that that require to be supervised by outsider expert agencies or individuals who contribute to the budget setting and project planning in accordance to the budget. As Eureka is taking serious initiatives to control its own financial issues, expense management needs to be focused upon. Added to that, efficient inventory management as well enables companies to minimise wastage and have a clear concept regarding customer demand (Venkatraman and Fahd, 2016). Thus, both of these factors have to be resolved with the use of the MYOB software so that the company can grow more independently and profitably.
This report has try to evaluate the immediate business requirement for the company Eureka Limited which can be considered an SME operating in the food and beverage industry. The evaluation of business requirement has enabled to form concept regarding it suitable software in order to accurately conduct accounting and other financial activities. Assessing the required features and functionalities of the new accounting software, this study has come to the conclusion that the MYOB Software which belongs to a mid-range of accounting software based on pricing will be suitable for the company in order to resolve the current challenges their dealing with and an efficient utilization of the accounting software will lead to a more accessible success.
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