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HI5019 Strategic Information systems for business and enterprise T3 Case Study Giant Eggplant

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HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION
Assessment Details and Submission Guidelines  
Trimester T3 2019
Unit Code HI5019
Unit Title Strategic Information Systems for Business and Enterprise
Assessment Type Individual assignment 
Assessment Title Case Study – Giant Eggplant
Purpose of the assessment (with ULO Mapping) Students are required to: Describe the various transaction cycles, financial reporting, management reporting systems and e-commerce. (ULO 2) Understand the risks inherent in computer-based systems/ERP, including ecommerce, the role of ethics and the various internal control processes that need to be in place. (ULO 4) Appreciate the opportunities for computer fraud and the security measures in electronic commerce that need to be taken to overcome this. (ULO 5)
Weight 20% of the total assessments
Total Marks 20
Word limit Not more than 2,000 words 
Due Date   Week 8, Friday 5:00 pm (AEDT)
Submission Guidelines 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.

HI5019 Strategic Information Systems for Business and Enterprise Individual Assignment

Assignment Specifications

Background

You are recently employed as an internal auditor at Giant Eggplant, a fruit and vegetable market in Rowville, Victoria. Giant Eggplant offers a range of agricultural, dairy and bakery products from local farms and bakeries. The company currently has 25 employees. These includes sales staff, store supervisors and administrative staff. The general manager of Giant Eggplant has recently noticed a decline in sales and profit while the purchases of products for resales continued to rise and you are commissioned to evaluate the company’s processes and procedures for revenue and expenditure cycles.

HI5019 Strategic information system
HI5019 Strategic information system

Revenue Cycle

Customers push their shopping carts to the checkout counter where a sales staff processes the sales. The company has five registers but they are not dedicated to specific sales staff because they play many roles in the day-to-day operations. In addition to checking out customers, sales staffs will stock shelves and perform other tasks as demand in various areas throughout the day. This fluid work demand makes the assignment of sales staffs to specific registers impractical.

At the beginning of the shift, a store supervisor collects five cash register drawers from the finance clerk in an office at the back of the market. The drawers contain $100 cash in coins and small bills (known as float) to enable the sales staffs to make change. The supervisor signs a log indicating that he/she has taken custody of the float and places the drawers into the respective cash registers.

Sales to customers are for cash and credit card. Credit card sales are performed in the usual way. The customers tap the credit card on the EFTPOS terminal located in front of the register and enter password if required. Receipts of the purchase and of the credited card transaction are provided to the customer after the completion of the transaction.

The majority of the sales are for cash. The sales staff receives the cash from the customer, makes changes and issues a receipt for the purchases.

At the end of the shift, the supervisor returns the cash registers drawers containing the cash and credit card receipts to the finance clerk and signs a log that he has handed in the cash drawers. The finance clerk later counts the cash and credit card sales. Using a stand-alone finance department computer, the clerk records the total sales amount in the sales journals and the general ledger Sales and Cash accounts. The finance clerk then prepares a deposit slip and delivers the cash to the local branch of the bank.    

Hi5019 Strategic information system for business and enterprise
Hi5019 Strategic information system for business and enterprise

Expenditure Cycle

The expenditure cycle begins in the warehouse adjacent to the market where the inventory of nonperishable goods such as canned goods are kept. The company also maintain a one-day inventory of produce and other perishable products in the warehouse so sales staffs can quick restock the shelves when necessary. At close of business each evening, the warehouse clerk reviews the market shelves for items that need to be replenished. The clerk restocks the shelves and adjusts the electronic stock records accordingly from the warehouse computer. At this time, the clerk takes note of what needs to be reordered from the suppliers and prints purchase orders from the computer. Depending upon the nature of the product and urgency of the need, the clerk either mails the purchase order to the supplier or orders by phone. Phone orders are followed up by faxing the purchase order to the supplier. When the goods arrive from the vendor, the warehouse clerk reviews the packing slip, restocks the warehouse shelves, and updates the stock records from the computer. At the end of the day, the clerk prepares a hard-copy purchases summary from the computer and sends it to the finance clerk for posting to general ledger.

The vendor’s invoice is sent to the accounting clerk. The clerk examines it for correctness and files it in a temporary file until it is due to be paid. The clerk reviews the temporary file daily looking for invoices to be paid. Using the accounting department computer, the clerk records all cheques in the electronic cheque register. The clerk then files the invoice and mails the cheque to the supplier. At the end of the day, the accounting clerk prints a hard-copy journal voucher from the computer, which summarise the day’s cash disbursements, and sends it to the finance clerk for posting to the general ledger.

Using the finance department computer, the finance clerk posts the journal voucher and purchases summary information to the appropriate general ledger accounts.  

Required

Prepare a report to the general manager to evaluate the processes, risks and internal controls for Giant Eggplant’s revenue and expenditure cycle. In your report, you need to include the following items:

  • Data flow diagram of revenue cycle
  • Data flow diagram of expenditure cycle
  • Analysis of physical internal control weaknesses in Giant Eggplant’s systems
  • Description of IT controls that should be in place in Giant Eggplant’s systems

Assignment Structure

The report should include the following components:

  • Assignment cover page clearly stating your name and student number 
  • A table of contents
  • A brief introduction of what the report is about
  • Body of the report with sections to answer the above issues and with appropriate section headings
  • Conclusion
  • List of references

The report should be grounded on relevant literature and all references must be properly cited and included in the reference list.

Marking criteria

Marking criteria Weighting
Data flow diagram of revenue cycle 2%
Data flow diagram of expenditure cycle 2%
Analysis of physical internal control weaknesses in Giant Eggplant’s systems 6%
Description of IT controls that should be in place in Giant Eggplant’s systems 6%
Presentation 2%
Research quality 2%
TOTAL Weight 20%

Marking Rubric

  Excellent Very Good Good Satisfactory Unsatisfactory  
Data flow diagram of revenue cycle     /2 Present a data flow diagram that correctly depict the whole revenue cycle.  Present a data flow diagram that correctly depict the whole revenue cycle with minor errors. Present a data flow diagram that depict the revenue cycle with some errors and/or omissions.  Present a data flow diagram that depict the revenue cycle with errors and/or omissions throughout the diagram. Present a data flow diagram that does not properly represent the revenue cycle.
Data flow diagram of expenditure cycle     /2 Present a data flow diagram that correctly depict the whole expenditure cycle. Present a data flow diagram that correctly depict the whole expenditure cycle with minor errors. Present a data flow diagram that depict the expenditure cycle with some errors and/or omissions. Present a data flow diagram that depict the expenditure cycle with errors and/or omissions throughout the diagram. Present a data flow diagram that does not properly represent the expenditure cycle.
Analysis of physical internal control weaknesses in Giant Eggplant’s systems     /6   Present an excellent analysis of internal control weakness in Giant Eggplant’s systems. Present a very good analysis of internal control weakness in Giant Eggplant’s systems. Present a good analysis of internal control weakness in Giant Eggplant’s systems. Present a reasonable analysis of internal control weakness in Giant Eggplant’s systems. Present a weak or inadequate analysis of internal control weakness in Giant Eggplant’s systems.
Description of IT controls that should be in place in Giant Eggplant’s systems     /6   Present an excellent discussion of IT controls that should be in place in Giant Eggplant’s systems. Present a very good discussion of IT controls that should be in place in Giant Eggplant’s systems.. Present a good discussion of IT controls that should be in place in Giant Eggplant’s systems. Present a reasonable discussion of IT controls that should be in place in Giant Eggplant’s systems. Present a weak or inadequate discussion of IT controls that should be in place in Giant Eggplant’s systems.
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 errorfree. 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 highquality evidence from peerreviewed journal articles and other sources was included and used effectively to support discussion. A broad range of quality peerreviewed journal references and other sources was included and used effectively to support discussion. An adequate range of peerreviewed journal references was included and used to support discussion. An adequate range of peerreviewed journal references was included and used to a basic extent to support discussion. Little or no peerreviewed journal references were included and these were rarely used to support discussion effectively.

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HI5019 Strategic Information Systems for Business and Enterprise Sample

Executive summary

The success and growth of a business enterprise is affected because of the adoption and effective use of strategic information systems. The study is based on Gracious Industries which is into the process of supplying electronic parts to different businesses and companies. It can be stated that sales and marketing, accounting and technology, quality and products and services delivery, management and finance are the major processes within Gracious Industries. ERP is an effective tool which assists companies and businesses in carrying out effective and the best integration of business processes and units. Business intelligence, integration and sales management are the three major features of ERP which have been identified. Netsuite, Sage and SYSPRO are the three main vendors of ERP software and after carrying out the comparison, it can be stated that the software provided by Netsuite is more useful for Gracious Industries. 

TABLE OF CONTENTS

Introduction. 4

Key business processes for Gracious Industries. 4

Major control risks for the business processes. 5

ERP features and functionalities. 6

Description of ERP vendors and their products. 9

Comparison of features and functionalities of two ERP packages. 10

The choice of ERP software package for the company. 12

Conclusion. 13

References. 14

Introduction

The use of strategic information system has now become significant and essential for the success and growth of businesses. Strategic information systems are developed with an objective to response to the business initiatives taken by a company. Furthermore, the reason behind growing use and importance of such system is that it contributes a lot in providing competitive advantage to a business enterprise (Chauhan and Jaiswal, 2016). The use of such system is also carried out by companies and businesses with an objective to deliver services and products at prices which are lower than the other players operating in the market or industry.

The present research is based on Gracious Industries which is private limited company operating with 35 workers and with sale revenue of more than $10.5 million. It has been identified that Gracious Industries is carrying out its operations from the past 40 years and at present the business is facing issues in terms of accounting. The selected business is now looking forward to make investment in accounting software so that the activities and processes can be improved. The business requirements, system requirements and selection of the software and vendor are the key areas which have been discussed in the present study.   

Key business processes for Gracious Industries

Gracious Industries has been in business for more than 40 years, and selling electronic parts to various businesses like hardware stores and supermarkets. The company is a private limited company with 35 numbers of employees. Along with this, Gracious Industries is considered as small sized-business (Olson et al. 2018). After analysing the background of company, it is found that Gracious Industries has five core business processes, which are shown as below:

Sales & Marketing – The Company sells electronic parts, and promote products at different parts of businesses, such as hardware stores and supermarkets. Moreover, the sales revenue generated in past year was more than $10.5 million. Also, marketing mix strategies like product price, promotion and place helps the company to increase sales and profitability. Here, the company has been operating more than 40 years, which makes sales as an important aspect for business process. Even the company has increased product range to increase sales and profitability.

Accounting & Technology – Gracious Industries is a small-sized company, and hired a accountant that creates financial statement every year (Harwood, 2017). Furthermore, the company requires effective accounting system as it is main criteria of business process. Also, due to globalisation, the companies have increased business processes with accessibility of latest technology. Moreover, the company requires more information to run business process with efficiency and effectiveness.

Quality & Product/Service Delivery – Moreover, the company has increased the growth in last past years by providing quality electronic products and services at marketplace. Along with this, Gracious Industries is focused on delivering the products and services to hardware shops and supermarkets.

Management & Finance – The management and finance team within Gracious Industries are well organised and encourage employees to increase productivity and profitability. Furthermore, managers are responsible for motivating employees to enhance skills and abilities. Thus, the effective management plays key role in business processes. Along with this, the business environment improves with excellent management styles, and also minimise conflicts in workplace.

Product Development – However, the company started to enhance range of its products, which is considered as main reason behind growth and increase in sales revenue. For example, Gracious Industries started to deliver green products, but unable to sell at competitive price. Furthermore, development and innovation in products and services are the important aspect of business processes (Kranz et al. 2016). The companies which are operating at global level have to bring time to time innovations to fulfil and satisfy consumer’s needs and requirements.

Major control risks for the business processes

The control risks are important to identify that can help company to prevent financial fraudulent and errors in statements. Furthermore, the control failure in financial statement may affect financial status in marketplace. The key business processes mentioned in Gracious Industries are depends upon internal control system. The ineffective internal control system can create various risks that can affect organisation’s success and sustainability. However, some of the risks can be control with the help of effective ERP system (Nowak and Kurbel, 2016).

Accounting and financial business process within the company is the current drawback, which leads the company to access less information. Also, the company hired accountant for preparing financial statements for each year, and will increase the chances of occurring errors. Therefore, the company must identify risks that can occur due to ineffective control on business processes. Gracious industries can control several risks that are shown as below:

Moreover, the company can control risks of incorrect financial statements that will affect future growth and sustainability. Along with this, weak internal control system will affect the complete organisation. For example, Gracious Industries has hired a new accountant and prepare financial statements for every year (Ağaoğlu et al. 2015). Here, the company can control risks of inappropriate and misstatements of information within the management.

Also, the lack of accounting system can cause failures in internal control system. However, the improper documentation and inaccurate information can mislead organisation in terms of profit and loss. Therefore, it can be considered as another risk in business processes that can be controlled by Gracious Industries.

The managers are responsible for planning and developing of system, and can help in prevention of loss. Furthermore, lack of qualified manager will impact on business environment, such as motivation level of employees and productivity. So, it can be corrected by organisation, which will help in eliminating the risk (Bradford, 2015).

Operation management is responsible for storing quality products in inventory, and considered as crucial aspect in business processes. Along with this, ineffective management in operation will affect products quality and services. Therefore, it is another control risks in business processes that Gracious Industries can focus on.

The advancement in technology is increasing at faster rate, and plays significant role in key business processes. Furthermore, poor accessibility to high technology can cause risks in business sustainability. The stealing of data is another major risk that company can control in business processes, such as identity theft, financial fraudulent, misrepresentation of information in financial statements.

ERP features and functionalities

Enterprise Resource Planning (ERP) system is known as an IT tool that helps in integration of internal business processes in a single unit system. Furthermore, the system will provide high-security standards, and complete safety in mitigating the security risks, such as identity theft, stealing of sales information etc (Antoniadis et al. 2015). There are various ERP accounting software at different range, which will help the company to improve internal function within the management. Also, with the use of excellent knowledge about ERP features and functionalities, Gracious Industries can accomplish business goals and minimise control risks.

Moreover, the major control risks mentioned in business processes within the company are poor quality management, misstatement of financial information, and increase in employee turnover rate (Brehm and Schmidt, 2016). ERP that has unique features like managing the current account, monthly inventory, quality control, planning of sales items, gross margin estimation etc. Along with this, the system will help the company to achieve goals by increasing the production rate, and providing products to the customers at a faster rate while minimising costs. The brief description of ERP features and functions that company should consider to eliminate control risks, and enhance business performance are as given below:

ERPs features

Feature 1: Integration

Moreover, it is considered as unique feature of ERP software that helps in integration in internal control system. For example, the system in Gracious Industries comprises of managers, employees and leader of the company. Also, the company also don’t have accounting software that leads to wrong information in financial and budgeting processes. Therefore, software will increase the integrity within different departments to work as single unit, and accomplish given task within deadline (Schunselaar et al. 2016). The businesses processes like sales & marketing, accounting & finance, and product development can work individually to achieve organisational goals and objectives.

Feature 2: Business Intelligence (BI)

It is another feature that can help the company to analyse reports by converting into spreadsheets. Also, BI is comprised of set of tools, which helps user to move data directly into same spreadsheet. The sharing of real-time information between executives is also become easier with the help of tool called, dashboards. Furthermore, the feature will keep everyone updated about responsibilities and tasks within the organisation (Sudhaman and Thangavel, 2015). Along with this, BI helps the management and company to make quick changes to increase business productivity and profitability. At the same time, increases the efficiency in accomplishing organisational goals and objectives.

Feature 3: Sales management

ERP has a unique feature, which helps the company to take sales order and lead towards product delivery and shipment to potential customers. Therefore, the software helps in delivering products within time, and improves Customer Relationship Management (CRM). Overall, stronger customer base will directly increase sales and implementation of software will avoid misstatements in sales invoice (Venkatraman and Fahd, 2016). However, Gracious Industries will improve business processes, and control risks, which can arise due to poor sales management. Hence, ERP software comprises of CRM tool that increase sales revenue, and sustain the business in marketplace.

ERPs functions

Function 1: Accounting

Moreover, accounting tools helps the company to improve functions like, payroll, tax reporting, and time tracking while preparing financial statement and budget plan. Along with this, the tools works as a ledger to better manage finance department. Furthermore, in case of ERP software, the accounting works in a different manner (Panayiotou et al. 2015). The ERP database helps company by providing accounting module with data in businesses processes.

However, this ERP function helps in minimising the time required by accounting staff in collection of financial information. Also, it helps in eliminating financial fraudulent and errors in financial reports and statements. The ERP accounting function provides organisational team to have clear look on finances.

Function 2: Human Resources

The important resources for any business are employees that help in accomplishing organisational goals and objectives. Along with this, Human Resource Management (HRM) helps the company to recruit right candidates for the job. Furthermore, due to impact of globalisation, software like ERP facilitates human resource functions that allow managers to hire potential candidates during process (Seethamraju, 2015). Also, the software keeps track of performance management within the organisation that helps HR staff to improve recruiting practices as well as employee’s performance.

Function 3: Inventory Management

ERP solution can help the company to maintain the standards of quality and reduce waste. Also, the services provided by software keeps track on latest trends, challenges and technological advancement with up to date and fully functional. However, ERPs helps the inventory manager to keep the record of each product according to latest trends. The function provide controlling and visibility in managing stock, and exchange data with other entities like manufacturing and distribution team (Charland et al. 2016).

Thus, software improves supply chain management by predicting issues in late delivery. Overall, the inventory management software in ERP helps users to predict demand of products with the help of analytical tools.

Description of ERP vendors and their products

The ERP software vendors have been selected from Australia after visiting the websites. Also, the Australian marketplace is covered by many ERP service providers that help small, medium and large sized businesses. For example, Netsuite is one of the leading and most popular vendors of ERP operating in the world and after carrying out the assessment of the vendor’s website, it has been identified that at present there are wide ranges of products and services which has been offered by the vendor (Chang, 2016).

For example, Netsuite is offering product/service in the form of cloud based ERP solution which is supporting companies and businesses in accelerating their overall performance. The use of ERP software provided by Netsuite also helps companies in ensuring the fact that they keep focusing on the things which they do the best and at the same the time they are capable enough to make the best use of available opportunities in the marketplace (Netsuite, 2019).

The company is also offering product in the form of accounting software and at present the software is used by thousands of businesses and brands around the world. The software is playing a critical role in improving the recording of day to day transaction and at the same time it is helping companies to ensure compliance. CRM, Human resource management, email marketing, professional service automation etc. are some other products and services which are mainly offered by Netsuite.

Sage software is another popular vendor which is into the process of offering ERP and other related products to companies and businesses around the world. The products and services offered by Sage are trusted by thousands of customers. The primary objective to the chosen vendor is to bring together the talented people and smart technology to create safer cities and workplace (Sage ERP software, 2019).

After carrying out the assessment of Sage’s official website, it has been identified that the vendor is offering diverse product/services in the form of ERP, accounting, Sage Intact and cloud. The ERP products and services offered by Sage are integrated with cloud and the services are also providing companies and businesses with an opportunity to grow at faster pace and stay competitive in the marketplace. The use of ERP provided by Sage has helped in carrying out smooth, simpler and more flexible accounting.

SYSPRO is also a critical ERP vendor which is popular in the global and Australia market because of its service quality and other related aspects. One of the main and most important characteristics of the software and solutions provided by SYSPRO is that they are very easy to use and they have been customized according to the need and demand of customers and businesses (SYSPRO, 2019).

The company has more than 40 years of experience and it emphasizes on providing customers or clients with solutions which is more than simply software. Innovation, trust, customized, worldwide fit etc. are the strengths of the products and services offered by SYSPRO.  After the assessment of the brand’s website, it has been identified that SYSPRO is offering services and products linked with cost control, ERP, business performance management, inventory management, order management etc.  

Comparison of features and functionalities of two ERP packages

Sage and Netsuite have been selected the vendors for ERP packages and it can be stated that there are certain differences and similarities between the packages provided by these two brands. The rationale behind selecting the mentioned above vendors for ERP packages is that they are the most popular brands available in the market. Furthermore, the features and functionalities of the ERP software provided by Sage and Netsuite have the capabilities to meet the demand and needs of Gracious Industries in the best and every possible manner.

One of the main and most common similarities between the chosen ERP systems is that both are working on Cloud. Gracious Industries will not be required to have worry or concern about its internal server while adoption of any of the ERP system provided by Sage and Netsuite. However, in comparison with aspect such as financial it can be stated that Sage has competitive advantage over Netsuite.

On the other side of this, in terms of human resource Netsuite is more useful and effective in comparison with Sage and this is one of the main reasons because of which companies in the marketplace emphasize more on using Netsuite over Sage. In terms of quality management, both the brands i.e. Sage and Netsuite have been able to attain equal results. The comparison between Netsuite and Sage ERP’s has been carried out in the table mentioned below as:

Brand/ Basis of comparison Sage 100 ERP Netsuite ERP
Awards The ERP system offered by Sage has not received any awards yet and this can be termed as a major drawback associated with the brand (Finances Online, 2019). In terms of awards, the ERP system or software offered by Netsuite has received the award of best ERP software in the year 2018 and this feature has provided competitive advantage to Netsuite over other ERP software vendors in the market
Pricing Model Sage’s pricing model provides the clients and businesses with two types of prices available which are quote based prices and monthly payment The same feature is available within the ERP software provided by Netsuite as the customers are able to carry out monthly payment or quote based payment (Finances Online, 2019)
Features The ERP software provided by Sage is currently offering features such as accounting and finance, reporting and business intelligence, sales and customer management, manufacturing, inventory management and warehousing and suppliers management  The features offered by Netsuite in its ERP software are more diverse in comparison with the software of ERP offered Sage. For example, in accounting, Netsuite is offering features such as tax management, procure to pay, audit trail visibility, order to cash and in fixed assets management flexible depreciation management, fixed assets roll forward, workflow management are the features offered by Netsuite.
Pricing information The ERP software provided by Sage is available to the businesses and customers on quote based model of pricing. It means that the prices of ERP software varies from each other and differs based on the needs and customization of the clients  (Panayiotou et al. 2015) Quote basis is the pricing strategy which has been adopted by Netsuite. It can be stated that the pricing information is same between both the vendors where customers get customized quote as per their needs and requirements linked with ERP. Adds-on, number of users every month and modules are the three major factors which are considered by Netsuite while deciding the price of its ERP
Languages Sage ERP software is only available in English and this can be termed as another major drawback associated with the software provided by the brand. Companies and businesses with diversified workforce may face several issues and challenges in terms of adopting this software and attaining the desired goals One of the main and most important feature of the software provide by Netsuite is that it supports several languages including German, French, Japanese, Spanish, Dutch, Russian Swedish etc. The use of software becomes more convenient within businesses with diverse workforce. 
Integration The ERP software provided by Sage is required to be integrated with Sage Data Cloud and after that it can be easily connected with different applications and mobile services  Netsuite is offering its clients and businesses with an opportunity to integrate its ERP with their existing web investments and CRM and this can be termed as another major feature of the software provided by Netsuite. 

The choice of ERP software package for the company

After carrying out the comparison of different ERP software companies, it can be stated that the ERP software provided by Netsuite is more useful and effective for Gracious Industries. One of the main reasons behind selection of Netsuite software is its ability to easy integrate with human resource features and functions of a company (Brehm and Schmidt, 2016).

Gracious Industries will get the opportunity to integrate the software with HR functions in the best and every possible manner. The ERP software of Netsuite has also received the award of best ERP software in the year 2018 and this indicates the overall effectiveness of the software. The increasing use and gaining popularity can be termed as another major reason because of which Gracious Industries should emphasize more on the selection of ERP software provided by Netsuite.

On the other side of this, the pricing model of Netsuite will provide Gracious Industries with an opportunity to make monthly payment and therefore, the adoption of ERP software will not create any kind of financial burden on the company. Netsuite will be designing customized software of ERP according to the need and demand of Gracious Industries and this can be termed as another important reason because o which the ERP software provided by Netsuite should be selected. Apart from this, the features offered by the software of Netsuite are high in comparison with Sage and other vendors of ERP software (Bradford, 2015).

The process of integrating ERP software within the organisation is also very easy in Netsuite ERP and this can be termed as another reason because of which implementation of the selected software should be carried out by the brand. Gracious Industries will be able to attain greater degree of efficiencies within its processes and operations with the adoption of ERP software offered by Netsuite (Olson et al. 2018). In addition to this, greater degree of savings in terms of time and cost are some other advantages associated with the use of ERP software provided by Netsuite and therefore, Gracious Industries should employ the same.

Conclusion

From the above report, it can be concluded that Gracious Industries is looking forward to adopt new ERP system to improve its processes and there are wide ranges of options and choices available for the brand. Sage, Netsuite and SYSPRO are three major vendors operating in marketplace. After carrying out the comparison between vendors, it can be inferred that the software of ERP offered by Netsuite is more effective and useful as compared to other players operating in the market. Gracious Industries will be able to save time and cost after the use of ERP software offered by Netsuite.

 

References

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Antoniadis, I., Tsiakiris, T. and Tsopogloy, S., 2015. Business Intelligence during times of crisis: Adoption and usage of ERP systems by SMEs. Procedia-Social and Behavioral Sciences175, pp.299-307.

Bradford, M., 2015. Modern ERP: select, implement, and use today’s advanced business systems. Lulu. com.

Brehm, L. and Schmidt, R., 2016. Potential Benefits of Using Social Software in ERP-Based Business Process Management. In Multidimensional Views on Enterprise Information Systems (pp. 71-83). Springer, Cham.

Chang, J.F., 2016. Business process management systems: strategy and implementation. Auerbach Publications.

Charland, P., Léger, P.M., Cronan, T.P. and Robert, J., 2016. Developing and assessing ERP competencies: Basic and complex knowledge. Journal of Computer Information Systems56(1), pp.31-39.

Chauhan, S. and Jaiswal, M., 2016. Determinants of acceptance of ERP software training in business schools: Empirical investigation using UTAUT model. The International Journal of Management Education14(3), pp.248-262.

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Harwood, S., 2017. ERP: The implementation cycle. Routledge.

Kranz, J.J., Hanelt, A. and Kolbe, L.M., 2016. Understanding the influence of absorptive capacity and ambidexterity on the process of business model change–the case of on‐premise and cloud‐computing software. Information Systems Journal26(5), pp.477-517.

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Nowak, D. and Kurbel, K., 2016, November. Understanding the Flexibility of Cloud ERP Software. In International Conference on Enterprise Resource Planning Systems (pp. 135-146). Springer, Cham.

Olson, D.L., Johansson, B. and De Carvalho, R.A., 2018. Open source ERP business model framework. Robotics and Computer-Integrated Manufacturing50, pp.30-36.

Panayiotou, N.A., Gayialis, S.P., Evangelopoulos, N.P. and Katimertzoglou, P.K., 2015. A business process modeling-enabled requirements engineering framework for ERP implementation. Business Process Management Journal21(3), pp.628-664.

Sage ERP software, 2019. [Online]. Available through: < https://www.sage.com/en-us/erp/>. [Accessed on 20th September 2019].

Schunselaar, D.M., Gulden, J., van der Schuur, H. and Reijers, H.A., 2016, August. A Systematic evaluation of enterprise modelling approaches on their applicability to automatically generate ERP software. In 2016 IEEE 18th Conference on Business Informatics (CBI) (Vol. 1, pp. 290-299). IEEE.

Seethamraju, R., 2015. Adoption of software as a service (SaaS) enterprise resource planning (ERP) systems in small and medium sized enterprises (SMEs). Information systems frontiers17(3), pp.475-492.

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