1 | P a g e HI5019 SIS INDIVIDUAL ASSIGNMENT T1 2018 HOLMES INSTITUTE FACULTY OF HIGHER EDUCATION Assignment 1 (Literature Review) Individual Assignment HI5019 STRATEGIC INFORMATION SYSTEMS T1 2018...

Information System 1
Strategic Information System
Contents
Introduction    3
Part 1    4
Structure of Organization    4
Operational Problems related to Existing Organizational Structure    6
Method for System Acquisition    7
System Flowchart of Sales Procedure    8
Control on Problems and Frauds    9
Part 2    10
Accounting Software Packages and its Development and Adoption    10
Size of Market    11
Leaders in Market and their Competitive Advantages    11
Cu
ent Gaps and Challenges    12
Conclusion    13
References    15
Introduction
Within an organization, the use of accounting software package facilitates the related department to conduct the accounting processes, records and monitor the transactions. Such package also helps finance department for functioning some financial modules such as payroll, trial balance, accounts receivable, general ledger and accounts payable (Al
echt, et al 2010). Hence, accounting software package allows the organizations to make quick and effective financial decisions.
Therefore, this research report describes benefits of an accounting software package for managing the accounting related information systems to ensure the performance of the business as per the internal and external environment of the organization. To accomplish this research report, Commonwealth Bank is chosen as an organization because of its leading position in the Australian public banking sector. It is providing financial services to more than 4.6 million customers. It has more than 7,500
okers to run its mortgage services (Commonwealth Bank of Australia 2017). This organization is selected due to its involvement in various financial business activities that cannot be completed without effective accounting practices.
In this context, the first part of this research report defines the structure of the organization as well as the problems that are faced by management. The second part of this research report discusses the accounting software packages which are used by selected case organization as well as its advantages to case organization in the term of accounting management. In conclusion, this research report presents some operational and applicable recommendations which will help the company to fill up the gap in existing performance of the organization through the use of accounting software packages.
 
Part 1
Structure of Organization
Structure of a business organization basically focuses towards the way of communication that will be used by each section to conduct the business practices in an effectual manner. It replaces the possibilities of confusion and conflicts between the workforce of the company and other internal and external workforce. This statement is also backed by Cummings & Worley (2009). According to authors, organizational structure describes the responsibilities, roles, accountability as well as the level of involvement of each employee in the decision-making process of the company. Hence, it serves to manage the communication between operational staff, management and external stakeholders. In the similar context, the selected case organization has also used a structure to run its business practices in a more effective and cooperative manner. Following presented figure is exploring the existing organizational structure of the case organization:
Figure 1: Organizational Structure
(Source: Commonwealth Bank 2017)
As per the above figure, it is clear that the case organization has divided the entire management on the basis of their functions. Due to this, it can be stated that the existing organizational structure of the case organization is divisional and functional structure. It means each department has own accounting requirement. Such organizational structure facilitates the organization to focus on wealth management improvement (Cummings & Worley 2009). With the help of above organizational structure, case organization effectively addresses the consumer need. Due to this, reason, case organization effectively focuses on requirements of individual customers as well as the larger institutional customers.
Operational Problems related to Existing Organizational Structure
The analysis of organizational structure defines that the divisional structure is used by case organization to promote and sell each financial product/service to target customers only. For example, the division of wealth management helps the bank to work for the improvement in the wealth (Pascoe, 2014).
But there are some issues that are mainly faced by the organization during the implementation of business activities in the market. For example, case organization has seen many financial scandals in its different
anches. Management of the bank was not aware of such scandals (Pascoe 2014). Such scandals were happened because of the misfit of the divisional structure with the business functions of the case organization. Due to this, the bank faced adverse impacts on its performance in the banking industry in Australia.
The research study of King (1999) also raised the issues rather to the organizational structure, if it is not matched with the business operations of the company. It means the misfit of organizational structure does not allow the bank to align existing business strategy with the structure for improving the business performance or reduce gaps in performance.
In the similar sense, a research study of Cummings & Worley (2014) explores a fact that organizational divisional structure facilitates the decision makers of the organization to use management for developing coordination with employees. This is because of its decentralization nature which gives authorities to managers to make business decisions as per the need of their business divisions. Such business structure does not need the involvement of top decision makers. But such structure also increases the communication gap between organization’s board members and managers. This statement is also supported by the research study of Daft, Murphy & Willmott (2010) because this study explores the drawbacks of divisional structure in the term of decision making and communication gap.
Method for System Acquisition
As per the nature of the business, the effective management of financial information and its time-based...