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Case study – xero and mcdonald’s
Finally, based on McDonald’s, It will analyze the Importance of information system and information technology. 1 . Competitive Forces Model With rapid development and increasing acceptance of the internet, Dry establishedXerox, an accounting software company that listed on the NZ stock exchange within a year. To analyze Xerox’s business strategy and the Impact that external factors have on Internet Industry attractiveness, Michael Porter’s five forces model can be used as follows: 1. Threat of new entrants Indeed, there are a few barriers that impede entry to the industry. Two significant barriers are switching costs (e. G. Offering multi functional services, such as training services for both customers and partners and facilities for banking contacts , than usual accounting services) and capital requirements (e.
G. Extensive knowledge of small businesses and advanced information technology).
Product differentiation enables Xerox be powerful when dealing with clients.
1. 4 Threat of substitute products The key features of accounting software include invoicing, accounts payable, expense lams, fixed asset depreciation and management reporting. For small businesses, to achieve these goals without purchasing accounting software, three approaches can be illustrated: Manual accounting systems; Setting IT department to develop internal accounting software; Outsourcing accounting activities to accounting firms.
In this modern day and age here everyone goes online for solutions per SE, entrepreneurs have been greatly attracted by online accounting software.
Xerox is one of the many online support companies that offer accounting solutions to businesses and entrepreneurs in Australia, New Zealand, the I-J and the US. Its subscriber base has grown very rapidly and steadily since its birth in 2006. Xerox’s success can be credited to the fact that the people behind it don’t grow complacent with every accolade it gets. Rather, they continuously develop and innovate different systems to accommodate and support the needs and demands of the companies and individuals who depend of them for online accounting solutions.
While we believe that accounting practices determine the success of a business, if such practices are done in a breeze, a lot more time and effort can be allocated to some other intrinsic field that also spells success like research and development, manufacturing, processing, marketing, etc. Although Xerox is geared to providing accounting solutions to companies regardless of its size, we believe that small to medium enterprises can benefit the most from it.
A few headcount can be taken off of a company’s payroll since general accounting, invoicing, tracking wage systems, etc. Can now be done online.
Finally, the CIO should be independence and self-confidence. A successful CIO should have high flexibility to adapt the changing internal and external environment of the company. For make more self-confidence, CIO should familiar with company running and proper capacity and knowledge so he can make most of decision by 3. 2 Role and competencies required of COT A Chief Technology Officer (COT) is an executive level position in a company who has the responsible for ensuring the speed, accuracy, availability and reliability of the information technology for an organization.
According to Tom Berry and Raja Sympathy, the role of COT has four major models for success. Firstly, as infrastructure manager, COT runs the infrastructure and operations of IT, like data center operations, applications development and maintenance.
COP has the responsibility to build a uniform high level of data protection for all personal data. Another function of COP is support legal and business teams in client and supplier contracting also protect the internal project and new business offering business.
Then COP has rights to respond and deal with individual requests. Furthermore, COP has to monitor legal developments and interpretation of data privacy regulators. The competencies of COP are simpler.
These improvements increase the customer satisfaction and attract more customers.
All of these are developed and built by great effort of COT. The COP of McDonald’s has the responsibility to take all reasonable steps to keep secure any personal information recorded. From the McDonald website, it can be found. In McDonald’s, the information is stored on secure servers that are protected in controlled facilities. In addition, COP has the right to respond and deal with all individual complain and request.
Each business entity should be able to develop a way to gather information to move the business forward. This system should involve three primary resources, and these are: information, technology, and human factors. McDonald’s is a force to reckon with in the fast food industry.
But this would not have been the case had it been complacent with the other players in the industry. Reinvention often spells the difference amongst the said players. Since McDonald’s offers food, the need to change its menu is necessitated by the fact that people will always want to try out something new.
Transaction time and preparation time is cut to a very minimum because of this technology that the company has applied.
It can be safe to say that for a company as big as McDonald’s, the POS can be noninsured to be at the core of its drive to collect relevant information to forecast demands, to maintain safe inventory levels, and to determine the required number of manpower to man the restaurants at a given timeshare, and lastly, these can provide the important information that managers need to understand the choices made by customers, who are the bloodline of the business.