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Executive Summary:

Strategic information is the system that researches about corporate responsibility and takes
longer-term decisions for the organization. The organization competition finds higher
advantages from them. In lower price, they may deliver service. Mainly they concentrate on
the different demanding market or that market where information strategy and innovation
system is an essential feature in the information technology and corporate world. In a final for
allocation storing, processing and moving data it helps to develop the data and also receive it.
Various tools and services are enabled and provide with it for applying matrices the
repository functions analytic tools for expansion. This allows them with resourceful
opportunities and enhance in a simple way also with efficiency supply. In a more effective
data presentation and analysis, this is the better data management service. Throughout the
assignment, effective accounting software tools and software are being discussed to know the
importance of using it.

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 Table of Contents

Executive Summary: ............................................................................................................................... 2

Introduction:............................................................................................................................................ 4
Business requirements ............................................................................................................................ 4
What are the key business processes for Eureka Limited? ................................................................. 4
What are the major control risks for the business processes of the company? ................................... 6
The company entered globalization in 2019. The nation continues less ironically and nationalist
politics around the world (Bragg, 2018). The increase of formal and informal barriers is the beginning
of frictionless businesses, the pull-up of the supply chain and the re-calibration of the leaders of
business and the new realization. ............................................................................................................ 6
Systems requirements ............................................................................................................................. 8
What are some of the possible accounting software features and functionalities that the company
should consider to achieve its business objectives and minimize the control risks? .......................... 8
Visit the websites of at least three (3) accounting software package vendors (e.g. SAP, MYOB,
Xero, etc.) and provide a brief description of each vendor and its products ..................................... 10
Software selection ................................................................................................................................. 11
Which category of accounting software (low, medium or high-end) suitable for the company? Give
your justifications in detail................................................................................................................ 11
Vendor selection ................................................................................................................................... 12
Compare and contrast the features and functionalities of two accounting software packages offered
by accounting software package vendors within your selected category.......................................... 12
Which one would be the most suitable vendor and accounting software package for the company
and why? ........................................................................................................................................... 14
Conclusion: ........................................................................................................................................... 16
References ............................................................................................................................................. 17

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 Introduction:

With the help of the Strategic Information Systems (SIS), the business response is developed.
This is also an information system. One should give the association the upper hand. They
may be provided with a low-cost product delivery service, concentrate on the market sector in
a differentiated part. They also store and categorize information and receive it. In order to
help the company to provide matrices and to use a repository information analysis tool, it
recognizes opportunities. These opportunities contribute to the growth and identify ways of
improving efficiency.

Business requirements

What are the key business processes for Eureka Limited?

Eureka Outsourcing Solutions Private Limited provides a business management process.

They also provide outsourcing knowledge on the services (Loewy and Griffin, 2019). The
company focuses on a niche customer requirement that also focuses on the design and
implementation of the technology. It includes customer support, customer life cycle
processes, and back office support.

Customer outgoing and inbound service management service operations, quality monitoring,
compliance regulation, accounting, and financial management, back-office operations are
known as a management service operations. It also includes tender and order management,
collection of management digitization services, business growth, etc. Managing this aid in
strategic execution is the main business process. Moreover, it is linked with increasing
productivity (Loewy and Griffin, 2019).

Core Processes –

The critical and fundamental corporate process of business is planning and management. This
includes financial marketing innovation in human resources that often thinks as a function.
On the other hand, it is a business-like process of its own right and regulation. Without
optimizing the process, the business goal cannot be achieved.

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Operational Processes –

The business type is different but the tourism context is such as

• Foodservice
• Suitable manufacture of food.
• Housing has given
• Recreational activities
• Proceedings and seminars.

Supporting Processes –

That is the support process that helps to run the business successfully. Administrative
purchasing, management environment, IT are among them. This is not a process
comprehensive list, there is also a secondary and primary classification problem. It is
important for achieving goals. This is divided into individual steps and tasks.

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What are the major control risks for the business processes of the
company?

1. US-China employment rift foretells a new worldwide instruction

The aggressive trade between the US and China is a geopolitical dynamic in 2019 (Demir and
Wu, 2017). For this antagonistic relationship China business and Companies have become
complicated. In the end, the trade war that began in 2019 is more difficult than the continued
position. The United States "contained China" policy is one of the pillars in the new global
order.

2. The global data switchback ride

In 2019 the international business will have new risk levels of the three areas between stand-
offs. Data are monitored in China, EU data are safeguarded and the US data are marketed
(Demir and Wu, 2017)

Difficult brace processing and storing data between areas and within areas that increase the
incoherent threats to cybersecurity and enforcement.

3. American political gridlock

The Resurgent Democrats will seek the House of Representatives and the case of business
consistency to investigate under president the hope of the White House. There is no change in
the remaining trade policy. The slow pace of deregulation requires uncertainty and clarity in
unanswered foreign policy and the global environment.

4. Extreme weather disruption

An interruption of businesses in 2019 is not caused by terrorist attacks but by extreme

weather and its consequences. From storm floods to forested fire, last year's record assurance
will likely exceed production interrupted cost, distribution and travel sales. Extreme weather
and it will never be more important as a business risk.

5. Multinationals becoming nationless

The company entered globalization in 2019. The nation continues less ironically and
nationalist politics around the world (Demir and Wu, 2017). The increase of formal and

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informal barriers is the beginning of frictionless businesses, the pull-up of the supply chain
and the re-calibration of the leaders of business and the new realization.

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 Systems requirements

What are some of the possible accounting software features and

functionalities that the company should consider to achieve its business
objectives and minimize the control risks?

An internal and external review and auditing (Tsygan, Didu, and Nazarenko, 2018) is
fundamental for the application of account money in each organization.

Features of software are given below:

• Statement
• Investigation
• Visuals
• Computerization
• Modify
• Disposable
• Safety

Accounting software called Xero for Intel Processors. It has a massive market and popularity
in the city. The SaaS was established and continues to increase in New Zealand a decade ago.

In contrast to the other Xero application launched on the dashboard, it displays information
on the front. Again, it has the anticipated activity button. There is a dashboard panel, as an
excellent invoice. In that panel with a button, a new invoice is created.

The control risk minimizes

Avoidance: The control of loss means prevention. This implies the risk of completely
avoiding, as the name also implies (Tsygan, Didu, and Nazarenko, 2018). If this loss are
avoided then people is successful. Then the losses are 0 percent likely. This is why control
techniques called avoidance risks first, which are also considered. It is also a threat that
completely eliminates it.

Loss Prevention: It results in a limit technique, known as loss prevention rather than its
elimination. Risk avoidance is total with accepting techniques, but minimizing efforts. Like

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warehouse inventory storage, robbery is vulnerable. It has been established to minimize loss
prevention. This also includes security patrolling, secure storage, and video cameras.

Loss Reduction: Risk acceptance is not a loss reduction technique, but acceptance of data is
the consequence of loss risk (Venter, 2018). In certain cases, a company will store flame
retardant materials in the warehouse in order to minimize the loss. This is necessary to the
risk that the company takes and has decided to install state-of-the-art sprinkle water. The loss
was minimized in cases of fire.

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Visit the websites of at least three (3) accounting software package vendors
(e.g. SAP, MYOB, Xero, etc.) and provide a brief description of each
vendor and its products

MYOB:

MYOB was the default company option in accounting software. There has been a global
reputation for decades (Curtis, 2016). It takes a while for the company to get cloud software.
The essential things were right after a few attempts.

In English, "Money in" and "About" are the information in the dashboard. This kind of
description is helpful if an accountant is not involved. In the top menu, pay bills, invoice
creation, and other common actions are click away. Instead of two clicks away from the
menu, however, the advantage was offered with the dashboard’s shortcut buttons.

Xero – Various business operations, accounts as well as the small business term, have
an asset that is Xero. The management system capability and money management
work with business priorities and rules for goal and long-term objectives. The Xero
was not for the business user, but for the accountant. Therefore, the massive
ecosystem of an accountant has now been created by them and directly supported by
business owners. Xero was used to enter the invoice and reconcile declarations. This
allows secure and accountable access to information for the preparation of BAS and a
refund of the annual tax. Connection to SaaS and add-ins is provided by the settings.
The virtual industry has such add-ins as education, production, and hospitality, which
are not profitable. Also integrated are the sales points and payment system. E.g. $ 40
Payment in the buying and the directly integrated square with Xero account.

• Intuit QuickBooks: QuickBooks is a veteran in the field of accounting software.

There is another dashboard as other data application that is like income and found
after logging in, expenditures, profit, and loss. The check code was sent by telephone
to create an account which response to it by E-mail, but no data from Excel, Reckon,
MYOB (Curtis, 2016). The company logo for QuickBooks has been added to provide
for a guided process, which includes personalized invoices, accountants and other
start-up activities.

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 Software selection

Which category of accounting software (low, medium or high-end) suitable

for the company? Give your justifications in detail.

Money that is brought forward and paid out to keep small business owners’ high priority
(Smidt et al., 2018). This accounting software has the right to do day-to-day responsibility by
using programs. This is a record for payment, tracking, and the reconciliation of transactions.
The financial health report produces a report within this business that contributes to the
performance of multiple Angel companies. But the tough part is the best business accounting
software.

• Entry-level or low-level accounting: The ideal microenterprise software product and

single partnership are created by five or fewer staff. The basic financial report
provided by account-level accounting functions, payable and receivable accounts. The
expert from B2B operates an accounting software entry-level by testing his market
service. FreshBooks was established in the best software category, Securitize
Services. A flexible price plan enjoys key features of the software and an easy test for
someone has a free trial plan.

• Small to medium business accounting: In addition to the production entry level, the
additional modules feature small and medium-sized software with aspects of the
business. This includes purchases, outlets, human resources and stocks (Smidt et al.,
2018). Finally, ERP,) a solution also referred to in enterprise resource planning.

• Enterprise or High-End accounting: Similarities were shared with several

accounting companies. It's stronger, more progressive. The immediate user who
comes at a higher price for the software. Unless other applications that avoid such
software, investments are used to operate a big company. If someone does not use it,
paying for adventure is not useful.

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 Vendor selection

Compare and contrast the features and functionalities of two accounting

software packages offered by accounting software package vendors within
your selected category.

QuickBooks has been maintaining its position as a small business settler for some time now.
(Nelson, 2019). However, Xero was a major competitor in this enterprise today. With his idea
of "Beautiful Ac," Xero was able to depict a mind-blowing substitution

Overview Dashboard

The design of the QuickBooks Online (QBO) the main page is very pleasant. It provides an
idea of r income, costs, and profit or loss rate. The website's main board is the main standard
for keeping an eye on the online store's improvements. The favorite thing about the
dashboard is that the objects are covered in more detail.

Xero has a simpler and more normal dashboard compared to QBO. However, Xero tries to
make it easy for its consumer base to use. With the regular balance and profit-loss data
provision, only a single click can help the user enter some important accounting features,
such as a load of a bill or bank account restoration.

Invoice Management

An invoice contains all the basic information, including certain customers, time limit, etc.
The invoice also contains some information that is not available (Nelson, 2019). If a price cut
is made for particular products, the concession will not be served by an invoice in
QuickBooks. In the calculation of specific items, therefore, some errors could occur.

Xero has established a borderline on this. Special pricing cuts are possible at the line-up
stages and separate tax rates can be used for particular types of products.

Reporting

The QuickBooks Online collection is the biggest of cheap and old reports, compared to other
accounting software. More than 80 reports can be found with some mouse click and are
classified as a business summary, sales and goods, revenue tax and so on (Alexander, 2017).

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The spectacular adaptations improve the reports. The adding of memo notes from bills,
details of goods and personalized programmed reports with modified columns can make
online shop more attractive.

Xero's reporting feature is currently not greatly enhanced. There are basic reports for the
online stores, but there are little possibilities to customize them.

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Which one would be the most suitable vendor and accounting software
package for the company and why?

Sometimes Mac users face the bare business software problem that is not as good as their
Windows counterpart. Xero's Cloud-based accounting software is the best Mac accounting
software for both PCs and Macs (Smith, 2019). It saves time and facilitates accounting by
automating tasks and a fusion of nearly 700 applications. Xero provides live chat and e-mail
services all the time and offers no extra cost for outboard phones.

Why Xero?

• Best Value: Xero supports unlimited users without additional funds and offers a
business serving multiple users the best value for money (Smith, 2019). The plans
together with inventory tracking are provided for most aspects and can be found
mainly in premium plans. Xero offers a 30-day free test to check business progress.
Xero also makes it possible to use demo company data.

• Ease of Use: Xero software is tested and subscribed to a business account to verify
Xero's features. Registration was quite easy and Xero could be used immediately
(Falode, 2018). The highly instinctive UI offers tasks at the start of a task that helps to
travel over the software and uses all features. The main board has normal drop-down
menu navigation to facilitate data inclusion, merge accounts, report format, tasks, and
information detection. It also shows major data at a glance, which represent bank
balance snapshots, likely invoices, total incomes and expenses, other accounts and
transactions, etc.

• Time-saving Features: The most outstanding answer was to save time for small
business owners who were asked about the features of the software "perfectly." Xero's
automation satisfies this demand, making it very easy to operate on accounting (Linda
Burzotta Nilson and Stanny, 2015)

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• Customer Service: Nearly Some features of Xero include all-time email or live chat
customer support and outgoing support for phones. For matters not solved by email or
chat, support is provided. Support teams are all over the world and help all times
irrespective of the time period. The company is trying to give the customer quick
answers and less time to wait.

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 Conclusion:

The SIS is a business-technology computer system, according to which information-service

resources are implemented in a manner that impacts the products and operations of a
company in an organization on technical chances of business. As a result of primary
companies, strategic information systems are formed. As the accounting software markets
and ERP solutions overfill, combined customer-friendly solutions are offered. Software that
meets the requirements should be found for small business owners and no extra money
should be spent on features made to major businesses. Free trials are also a good idea for a
couple of days to save time and money.

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 References
Alexander, D. (2017). International financial reporting and analysis. Andover, Hampshire
Cengage Learning.

Curtis, V. (2016). MYOB software for dummies. Milton, Qld.: John Wiley & Sons.

Demir, F. and Wu, C. (2017). Exchange Rate Adjustments and US Trade with China: What
does a State Level Analysis Tell Us? Global Economy Journal, 17(2), p.20160059.

Falode, O. (2018). Pre-service Teachers’ Perceived Ease of Use, Perceived Usefulness,

Attitude and Intentions Towards Virtual Laboratory Package Utilization in Teaching and
Learning of Physics. Malaysian Online Journal of Educational Technology, 6(3), pp.63–72.

Linda Burzotta Nilson and Stanny, C.J. (2015). Specifications grading: restoring rigor,
motivating students, and saving faculty time. Sterling, Virginia: Stylus Publishing, Cop.

Mary Ellen Guffey, Loewy, D. and Griffin, E. (2019). Business communication: process &
product. Toronto, Ontario: Nelson.

Nelson, S.L. (2019). QuickBooks 2019. Hoboken, Nj: John Wiley & Sons, Inc.,
QuickBooks For Dummies.

Smidt, L., Ahmi, A., Steenkamp, L., van der Nest, D.P. and Lubbe, D. (2018). A Maturity-
level Assessment of Generalized Audit Software: Internal Audit Functions in Australia.
Australian Accounting Review.

Smith, H. (2019). Xero. Milton, Qld: Wiley Publishing Australia Pty Ltd.

Tsygan, R.M., Didu, S.V. and Nazarenko, K.I. (2018). FEATURES OF ORGANIZING THE
INVENTORY ACCOUNTING AND THEIR ASSESSING IN THE ACCOUNTING
SYSTEM. Efektyvna ekonomika, (11).

Venter, G. (2018). Loss Reserving Using Estimation Methods Designed for Error Reduction.
SSRN Electronic Journal.

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