Commonwealth Operational Issues Using ERP System †Free Samples

Question: How Commonwealth Focus On The Operational Issues With The Usage Of Best ERP Systems? Answer: Introduction The report focuses on how the accounting information system is able to handle the collection, storage and the processing of the financial and the accounting data that is being used by the different decision makers. The context of AIS is taken with respect to Commonwealth Bank in Australia, where how it has been able to incorporate Xero as the accounting software package which provides the secured data feed solutions for the business. All the small business customers are also required to work on the applications for the data feed where Commonwealth Bank focus on delivering the simple, and the best functionality to make the life of the people easy. The report also focusses on the ERP systems and the structure which relates to managing the resource planning with the improved setup process and secured connection. The company CBA will define how the inefficiency and the errors need to be evaluated with the standards set to meet the accounting forms. For Commonwealth banks, the accounting software is important to handle the payroll management in the system along with the proper analysis of the inventory. Through this, there is a proper access to the small business systems along with handling the data security. The solutions are based on working over the NetBank and Xero systems that hold the reconciliation of the functionalities. Organizational Structure As per the decision of the Managing Director of Commonwealth Bank, the structure is aligned on the development of product and the service delivery. This is important for handling the customer segments with the changed responsibilities for the leadership team (Commbank.com.au., 2017). The structure focus on the customer base, where there are retail banking services where the customers seek the accessible and the affordable banking procedures (Commbank.com.au., 2017). The investments and the insurance services are also based on the third-party support services from the brokers and the agents. The company works on the management of the institutional and the business services that cater for the financial needs of the initiation and the middle market business customers as well. Operational Issues As per the analysis, Commonwealth Bank is facing major issues related to the operational risks, where there are scandals related to the chronic overcharging of the customers at the British banking arm (Commbank.com.au., 2017). The CBA customers are left cashless with degradation in the electronic services which are for the bank customers and the executive teams. The errors riddled online platforms are also driving the customers away. ERP systems There is a need for the company to work and make use of Xero software which helps in handling and balancing the improvement for a proper processing. The secured success and the connection is possible through the transactions that are being done and delivered. The bank feeds also include the improved and the secured connection (Commbank.com.au., 2017). This is mainly through handling the cloud based technology where the ERP of the system works with easy forms of the data transactions along with working on how to handle the savings account. CBA is also able to cater to the needs with the reconciliation of the accounts and then controlling the flow of cash with proper setup of business (Khairi Baridwan, 2015). Here, the demands are depending upon the records and the easy processing of the data. The modules are highlighted with the easy management of the payroll and how the inventory standards are able to make a better place for the in-house systems. Flowchart Here, the procedure of the sales includes the receiving agent, vendor, superintendent, buyer and the customer. Here, there is a need to prepare a proper quote so that the process could be reviewed along with preparing the invoice for making the payment (Bhiani et al, 2014). The process also includes how there is a possibility to receive the orders of the different items and then proceeding with the shipping officer. The review of the quote and the quote acceptance is important for the proper flow of the data. The reviewing is based on the preparation of invoice and how the system is able to handle the evaluation of RFQ (Request for Quote) (Collier, 2015). Possible issues There are different issues which relates to how the functioning and the processing could be done when there are issues related to the system of Xero. The foundation is based on the possibility where the false data need to be evaluated and then linked for the system accounts. The employees ID along with handling the deletion of data for the previous employees is a major issue. Along with this, there is a need to set up the connection to the bank account with the ID so that it is easy for the money to float in the account. Some of the users work on accessing and making use of the network connections for the system, where the software is never able to give a proper access to the rights of the user (Commbank.com.au., 2017). Hence, it is seen that the system of the user is set at a lower pattern. With this, there are issues related to the system storage upgradation, where there is a time wastage in the conversions that all require a proper amount of time for money that comes when there ar e changes in the business principles (Ismail King, 2014). The major focus is on the time and how the expense efficiency could be satisfied with the proper designing of the software. For this, it is important to take note of how to balance any of the unbalanced error and work towards reporting and setting a better business performance. The best solution for the same is to work on the evaluation of the system where the user can easily handle the system of the file on the local driver. Through this, there is a major possibility where the user could also maintain and work towards the setup of the system privacy. This is only possible when there are monthly updates about setting and deleting the data of the files which are irrelevant. Accounting Information System Package The AIS has been launched by IBM which is considered to be able to setup the system dynamics along with working on the proper generation of reports. The working is based on the regulatory and the tax agencies where there is a need to handle the different financial transactions and record keep that is important to work on the real-time applications. AIS is also important to work with the inventory order and how the notifications are processed for the accounting. The sales are made where there are invoice customers and the warehouse to assemble the order and get notified for any receivable. The functionality is based on the flexibility and how the investments are processed for the effective development (Wang et al, 2014). The functioning could be worked on through the Peachtree which includes the expansions and the working on the system integration. The structural standards are based on working with the accounting applications and how the different requirements could be met with the ma jor focus on quickening the processes and handling the processor systems (Bodnar Hopwood, 2013). MYOB includes the company acquiring with the Australian standards set to meet the research and work with the business that is based on the small and the large number of the organization structure. The adaptation is based on the software standards with the reduced paperwork (Wang et al, 2014). Market Size The market size depends on the AIS software requirement, where there are people 1600 approximately who are working on the management. Along with this, there are certain investors and the creditors who are able to proceed with the accounting systems and management. ERP includes the basis where the software packages are defined under the choice of ERP. Hence, for this, the architectural format is based on the larger forms where the setup is through the data that is collected and worked on for the proper storage of the information. The accounting information is also depending upon the fact about how the clerk tends to enter and work on the details related to the invoice with the check on how it is easy to provide with the accounting vendor information (Simkin et al., 2014). The characterization is based on the costs with determining the different ledgers. Here, the purchasing format and the patterns are generated to handle the accounts with effectiveness that is based on working for any of the medium and the small sized companies. The check is on the cloud computing factors. Leaders in the market With the change in the market standards, it is seen that Xero is considered to be one of the leading companies that is able to handle the different transactions. The company is able to work on the different standards of accounting and how the information could be processed through it. It is important to analyze about the different set of factors which is for maintaining the system standards as well as the accounting software. The check is important to maintain the consistency where the company like Commonwealth Bank tend to make use of Xero and the implementation for this is also based on the considerable reliable standards with the ignorance to the system inconsistency. Limitations The check is on how the issues could be evaluated with the system security and the inconsistency factor. The integration is based on the fact how the users are able to take hold of the third party vendors along with easy handling of the fast time to market. With this, the check is also on the limitations which relates to the system of fraud that is to take hold of the other individual forms of recommendations (Wang et al, 2014). Recommendations The company needs to work on the cloud computing with the focus on how the encryption could be done. The flexibility will also work to handle and solve all the issues related to the development of system structure. The challenge is related to the desktop factors and other forms of the associated software which relates to cryptography. The measures are also set for the cloud computing and to handle the competitive edge that will improve the efficiency and the information security factors. The focus is on the needs and how the processes could be reported mainly to deal with the limits of consolidation along with evaluation of the system in a proper manner. With this, all the risk management techniques and the governance is also important to be evaluated. Conclusion Here, the check is on the documentation with the standards required to meet the system patterns. Xero and MYOB has been able to handle the system of the ERP market. Here, the users are also able to work on how to design the input control with the proper functioning so that there is an easy process that could be followed for handling the system transactions. The procedures and the instructions are based on collecting the information, storing and then retrieving the records which are for handling the internal and the external sources. The customer online orders and the procedures are processed to store the information where there is a major need to work on the impacts of different users and the different type of the information. References Bhimani, A. and Willcocks, L., 2014. Digitisation,Big Dataand the transformation of accounting information.Accounting and Business Research,44(4), pp.469-490. Bodnar, G.H. and Hopwood, W.S., 2013.Accounting Information Systems: Pearson New International Edition. Pearson Higher Ed. Collier, P.M., 2015.Accounting for managers: Interpreting accounting information for decision making. John Wiley Sons. Ismail, N.A. and King, M., 2014. Factors influencing the alignment of accounting information systems in small and medium sized Malaysian manufacturing firms.Journal of Information Systems and Small Business,1(1-2), pp.1-20. Commbank.com.au., 2017.Annual reports - Commonwealth Bank Group. 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