This literature review deals with the importance of strategic information system and its implementation in the business organizations of Australia as development of strategic information system is important for any organizations. It is a planning system which deals with the procedures of making a system by different information system to meet the company's goals and targets. With the help of strategic information system, the institution can easily follow the goals of the organizations, the strength of the organizations and the weakness of the organizations as the information system gives an advantage in competitive business market. The company which is strategic information system can produce the services and a product of low cost that is diversified, specific market oriented and best of things is innovative. Strategic information system helps an organizations to segmentified, accumulate, execute pass the related information, they build and receive. Strategic information system is important for any organisation as it can motivate the respective organizations to its goals and is difficult to crack.
1. Recent Institutional structures of Computershare
Computershare is one of the most reputed technology companies of Australia. It is a progressing stock trading company in Australia mainly in its suburbs and its headquarters situated in Abbotsford in Victoria. Its founded its stone on 1978 and growing by day till to date with its 14,000 employees. Computershare delivers service to more than 16,000 people in more or less 20 countries all around the world. This excels in business market successfully by providing clerks equity plans, deposition protection, funding services, corporate related care, class section administration, communication with the customers as well as the shareholders and most recently service of mortgaging. It is also acquires many other reputed company by using skills and expanding globally and now it is a largest provider of stock trader. The company mostly invests in technological services, professionalism of its staff; wide area spreading and customer satisfaction thus, are the result of their achievement in world economy market.
2. The problems suffered by the organisation Computershare due to this structure
There are many issues regarding the processing in a stock trading company, this company like Computershare is also not exceptional from this things. The problems suffered by Computershare are most commonly is the risk related to economic markets in United Kingdom. Economic growth in England is stagnant into 2% for next 2 or 3 years even up to for next 10 years even after UKs most renowned republican victory so, there a phase of pain for the trading companies. The most other important threat for Computershare is inflation where the prices of goods and services increases, value of money decreases without the employment.
The stock trading companies also suffers the employee’s related problem like the reducing employee’s number and bringing of returns to the root level. According to Alam (2014, p. 130), little demand for loans from the banks and politically acceptable economic professions may also cause harm for the trading company like, Computershare. Increasing amount of principal mortgage owed debt is an unsolving and critically increasing problem for the trading companies. The escalation of the shadow banking system from the economic market and continuous rising of engineers from China and India is an increasing problem towards the trading companies like Computershare in UK. Different cost related issues like BASEL 3, as to store money as listed in the regulations of BASEL committee is also a important concern of the Computershare like trading companies.
3. Mostly used system acquisition method among commercial software, custom software and ERP
The trading company like Computershare is using the business software like ERP or Enterprise Resource Planning as, it helps the respective organisation to customized applications to manage the trading business and funding services. This business management software helps to rises the revenue after minimizing the risks by tracking the business courses of the trading companies like Computershare. Enterprise Resource Planning deals with the organization’s selling, purchasing and stocking related processing. This particular type of software helps the trading company like Computershare by developing suitable skilled programmes to check out the buying and selling processes. This Enterprise Resource Planning helps to access the software system to access from anywhere and in no time as, it is the most important part of the trading companies. This type of business management software programme can prepare and arranged a skill and suitable web browser or cloud based server platform and the respective business management software can be implemented quickly and also very cost effective and is globally accepted by the customers. Enterprise Resource Planning is more efficiently used business management software all over the trading companies than other software programmes. The trading company like Computershare can manage the price through final lists of customers and store by using this business management programme called Enterprise Resource Planning. Effective sales processes can be checked by the process of Enterprise Resource Planning without any disruptions.
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4. Preparation and description of sales process regarding respective company in a flow chart
Computershare is a renowned company in the stock trading market as, it deals with the software solutions in the stock trading market. As in any type of organizations whenever there is need to sell something, there is need to a proper market research for the market. Then there will be a process of targeting the respective clients is started and there is the procedures of documentations of the markets is to be done. However, the respective company also done the same by targeting the audience, then preparing the documents after handling the profits by selling of the relative software solutions to the targeted client by manipulating the process of the performance by encouraging it.
5. Any control problems and frauds in the recent structure using by the concern company Computershare
Besides the effectiveness of the Enterprise Resource Planning there is many other control related problem regarding using of the software as, it leads lots of complexion at the time of processing so the implementation of this software needs to be very carefully. In words of Almeida and Fernando, a detailed and properly discussed plan should be needed to run of this software as it can create chaos in long run. Like the previous point skilled and experienced personnel is also needed to implement with the business software programme. Effective Resource Planning is often failed to detect fraud that is a very serious issue regarding trading system thus companies have to reduce the corners and affected by the cyber thief frequently.
Though it is a very expensive and time consuming process it failed to impact the trading systems properly due to its lacking criteria. There are often compatibility issues in these respective modules as, companies hire different vendors from diverse sector. According to Luftman et al. Effective Resource Planning needs a proper infrastructure with best processing speed and required storage thus makes it more expensive and complicated. Experienced management and proper analysis of the required modules is needed to supervise the running of the projects in long run. It is essential for a trading company to manage all problems regarding running of Effective Resource Planning with effective and efficient way.
1. Implementation of accounting software packages in the respective company Computershare
Accounting software is a type of software that is applied for the records and account transactions with and in the account values transactions, payroll, balance and receivable as informative on accounting system. Trading company Computershare need to implement the account software package like Xero, as it have many positive points to enrich the respected company. According to Chae et al. Xero can provide complete security towards the trading company in both in-house and outhouse basis by keeping the sensitive data's safe and secure. Through Xero, the companies can access their account in online from anywhere and in no time. The trading companies have a wide visibility of the transactions through Xero in real time basis. The trading company can save their time also by using the respected software as it time saving with its efficiency and up to dated account. Xero is also popular among its user for its funny graphics and attracting design and it is also easy to use. According to Shahiduzzaman and Alam, this software is cost effective rather than it is free for first login so it grows its popularity among the population day by day. The last but not the least characters provided by the business software Xero is widely used by the business personnel in throughout the nations like UK, Australia.
2. Recent market size
Information Technologies or software solutions market is on the very competitive verge right now. In 2017 the total information technology spending in Australia is estimated to reach near about Australian $85 billion, an increasement from the previous year that was 2.8 percent www.gartner.com (2017). In 2016, IT spending surpass is NZ $11.5 billion, which is 2.4 percent increase from 2016 that is a huge change in the information technology as it is the growing sector.
3. Discuss about the leaders and strength of Computershare in competitive market
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The leaders of the competitive markets in respect of Computershare are Carsales.com, IRESS Limited, TechnologyOne, Reckon, CSG Limited, and UXC Limited. These are the renowned organizations of their own sectors as they give a tight competition to the concern stock trading company, Computershare. Like, Carsales.com, a largest online automobile market and countries one of leading companies, delivers computer systems to the car dealers, their respective customers. IRESS Limited provides software services to the financial markets. TechnologyOne is the leading software company that delivers software solutions and consulting services to the respective customers. In words of Baskerville et al. Reckon is a leading software company that provides the software solutions to the bookkeeping and accounting professionals. The listed company named Computershare used the business software package Xero as it's used very efficiently, highly cost effective, real time basis. Xero, the software package helps in time savings and broad visible receivables transaction procedures.
4. Describe the disadvantages of accounting software packages faced by the customers of Computershare and related suggestions
There are many disadvantages regarding using of software accounting system as it is very much cost effective, it needs a huge amount of skilled and experienced manpower to handle the software system carefully. In words of Dwivedi et al. software accounting system is a internet dependent method so, data can be losses due to power failure or virus attack as it can happened in any time and in anywhere without any warning. Serious or sensitive data theft by the hackers or the viruses can be also happened in between using of this software management system in this respected company. Implementation of this software management system always needed a high profile check up regarding its process of data, accessing of data and also the transactions of receivables and pay rolls. According to Cresswell and Sheikh, this is the sensitive issues for the customers as, the sensitive data of the customers and the concern company itself needed to be looked by the skilled professionals as, if the data is either stolen or hacked it can be a serious crime allegations for the organizations authority. Due to the complexity of the system, it cannot be handled by the unskilled or inexperienced persons as the system needs a thorough knowledge about the software packaging system. This type of packaging system is needed a complete attention of computer in long run so, if someone do not have the access to the computer and the internet in frequent basis it is hard to access with the software packaging system. According to Liang, not only with the skilled personnel the equipments using with it also need a complete attention by regular up gradation of the equipments or the maintenance of the programme and virus removal.
The report deals with the strategic information systems in the Australian trading companies. Here, in this report the stock trading companies named Computershare is discussed with its system acquisition methods and accounting software management process. The review deals with the organizational structure regarding its foundation year, its business strata, area of process, the procedures of its working. The report also states the relative system acquisition method that is Effective Resource Planning and its effective regarding the respective organisation. The report also deals with the sales procedures and control problems and fraud related problems regarding the Effective Resources Planning. The most important part, that it deals with the adoption of accounting software packages and the current market size of the respective company, the competitive leaders in the respective business economy and their strengths. The report also deals with the disadvantages and the problems facing by the customers who are in the transactions with the company Computershare.
Almeida, S. and Fernando, M., (2017). Making the cut: occupation-specific factors influencing employers in their recruitment and selection of immigrant professionals in the information technology and accounting occupations in regional Australia. The International Journal of Human Resource Management.
Baskerville, R.L. and Wood-Harper, A.T., (2016). A critical perspective on action research as a method for information systems research. In Enacting Research Methods in Information Systems: Volume 2 (pp. 169-190). Springer International Publishing.
Chae, H.C., Koh, C.E. and Prybutok, V.R., (2014). Information Technology Capability and Firm Performance: Contradictory Findings and Their Possible Causes. Mis Quarterly.
Cresswell, K. and Sheikh, A., (2013). Organizational issues in the implementation and adoption of health information technology innovations: an interpretative review. International journal of medical informatics.
Dwivedi, Y.K., Wastell, D., Laumer, S., Henriksen, H.Z., Myers, M.D., Bunker, D., Elbanna, A., Ravishankar, M.N. and Srivastava, S.C., (2015). Research on information systems failures and successes: Status update and future directions. Information Systems Frontiers.
Liang, R., 2014. System and method for effectively processing software changes.
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Introduction to Strategic Information System
The literature review refers to the process in which the scholar develop with the critical evaluation for all the negative as well as positive aspects of the specified topic. Further, in this the scholar highlights by evaluating the viewpoints...ReadMore