Strategic Information System Small Enterprise Research

Question: Discuss about the Strategic Information System for Small Enterprise Research. Answer: Introduction Accounting software is the computer program, which is set up as well as built for storing as well as managing the accounts and also perform accounting and arithmetic operation (Jones and Jones 2016). This study has mainly focused on the discussion of a literature review on accounting software used in Australia. This literature review is developed on NetSuite which is one of the most popular accounting software and mostly used in all the over the world. NetSuite offers the potential technology in order to run all the aspects of a social or a non-profit enterprise. Thus, this literature review has first illustrated a brief discussion regarding the history of this software as well as the background of the company who is the founder of this software is also illustrated in this study. On the other hand, this study also provides a precise detail regarding the adoption and development of this software in Australia. Apart from that, current market size of this software in Australia is also d emonstrated in this study. Therefore, the literature review also identifies the leaders and the competitive advantage of this accounting software in Australia. History Netsuite is the cloud business management software suite. This accounting software has joined more than 30000 companies. NetSuite was initially an online accounting software solution. NetSuite was launched by NetSuite group which is based in America. NetSuite was invented by Evan Goldberg in 1998 as NetLedger, which is the web-hosted accounting software (Netsuite 2016). Later, NetLedger was renamed to the Oracle Small Business Suite. After that, it was renamed finally as NetSuite. NetSuite is the unified as well as real-time global business management platform for managing the multi-subsidiary, multi-language, multi-currency and multi-national operations as well (Lam 2015). At the very beginning that is after the launch of this software, it was used in the organizations of America. However, due to the increase in the popularity as well as its advanced technological features, the companies all over the world are using this software. Thus, most of the organizations in Australia especia lly the financial enterprises are selecting this accounting software for the advanced features of this software. On the other hand, the robust system of NetSuite supports completely the end-to-end process of business over the organization. Adoption and Development NetSuite is such popular accounting software that is widely used by most of the accounting business corporations in Australia (Netsuite 2016). The host company of NetSuite accounting software, which is the leading provider of cloud-based ERP or Financial industry, have made an announcement that Australia Post as and NetSuite have partnered for delivering an integrated solutions for the omnichannel commerce businesses as well as merchants by utilizing the postal services in all over Australia (Boulianne 2014). It has also announced that it would be done to manage their business operations, which is mission-critical with a single cloud system from the warehouse and ecommerce management, order management, inventory management as well as from financials to the Customer Relationship Management, collection, delivery as well as fulfilment (Lipi, Rama and Agaraj 2015). Therefore, NetSuite as well as Australia Post have planned for collaborating and building as well the Australia Post Suite A pp or the top of cloud business management suite of NetSuite, which leverage its potential platform of Suite Cloud Development. On the other hand, most importantly, this particular integrated solution which has been adopted as well as developed in Australia has combined the strengths of NetSuite and Australia Post. Due to this adoption and development of NetSuite integrated solution, a game-changing impact can be created on the Merchants of Australia as well as Omnichannel Commerce Business (Svobodova and Cerna 2016). Apart from that, NetSuite ERP has become the most deployed cloud Enterprise Resource Planning system in Australia with numerous companies (Netsuite 2016). It has also given comprehensive and proven financial management as well as Enterprise Resource Planning that integrates simply with the entire service and sales processes of most of the organizations in Australia. Current Market Size As per the business operation as well as the advanced features of NetSuite, it is the fastest developing or one of the top 10 global financial management systems in Australia (QuickBooks and Premiere 2013). NetSuite has continued for developing rapidly its top line because its sales grew in Australia by huge percentage in this recent year in comparison to the previous years. Figure 1: NetSuite Market Share (Source: Netsuite 2016) From the graphical representation portrayed above, it can be seen that the popularity as well as the rate of adoption of this accounting software by the financial organization more than any other accounting software of popular enterprises. NetSuite Accounting Software has beaten the other famous accounting software such as Microsoft, Sage, SAP and Oracle as well in terms of the popularity, current market share as well as the revenue earned by NetSuite (Fossella, Kennedy and Kokopay 2014). It is also the similar scenario in Australia for NetSuite as well. Identification of the Leaders NetSuite ERP accounting software is one of the leaders in all over the world, as this product is leading the accounting software market due to the advanced technologies offered by NetSuite. Mosf of tyhe organizations in all over the world are depended on the service of the NetSuite ERP. NetSuite has continued its success in order to deliver the best cloud financial or ERP suites to the businesses in Australia and worldwide by enabling them for lowering significantly the IT costs while enhancing the productivity as the international cloud adoption accelerate. On the other hand, the accounting software of Microsoft, Sage, SAP as well as Oracle is most popular and renowned leaders in the accounting software (Pavaloaia and Andone 2013). However, NetSuite is also leading the market with these accounting software leaders in Australia. It has been possible for NetSuite as this software package has become successful to accomplish the objectives of the adoption of this accounting software in the current market of Australia. Besides that, this accounting software has successfully accomplished all the expectations of the business corporations such as the parcel lockers, parcel collect, parcel rates, trace and track, print label as well as dispatch label (Dyt and Halabi 2012). Moreover, Netsuite has become one of the market leaders in accounting software market in Australia as it offers diverse application in every field of accounting operations for the business organizations. Competitive advantage Due to the huge popularity as well as the demand of this accounting software in all over the world, NetSuite ERP has gained a huge competitive in Australian business organizations as well. It has simply become possible due to the diverse applicability in all the accounting operations in the business organizations who offer accounting services (Jadhav and Sonar 2012). It has a huge demand in the market as this software can provide a unified as well as real-time international platform for business in terms of managing multi-subsidiary, multi-language, multi-currency as well as multi-national operations. On the other hand, NetSuite offers Enterprise Resource Planning services, Customer Relationship Management services, Professional services automation, Ecommerce, retail as well as manufacturing services (Hyvnen, Jrvinen and Pellinen 2016). Therefore, in case of NetSuite accounting software, one single database has offered multiples service, which are mentioned above. Thus, the business organizations in Australia who deal with the accounting services are more willing to adopt as well as develop this particular software due to its multiple services provided by a single database within NetSuite. Thus, it is very simple to portray the fact that due to such multi-dimensional services offered by this accounting software, NetSuite is gaining huge competitive advantage in Australia as well. Therefore, on the other side, this increasing competitive advantage for this software also interpretes the fact or the reason why NetSuite is becoming of the market leaders in Australia along with Microsoft, SAP, Sage and other software. Figure 2: Multi-dimensional Services offered by Netsuite (Source: Netsuite 2016) Current Gaps and Challenges There are few gaps as well as challenges associated with NetSuite. These are as follows: The Cost The most important and effective challenge of NetSuite is that this software is very expensive. The performance challenge in the cloud Sometimes the performance of NetSuite is inconsistent in the cloud (Lipi, Rama and Agaraj 2015). The company reputation The business partners, former users and netsuite users are vocal on the channels of social media (Netsuite 2016). Therefore, they share huge frustrations about the continuous escalations in price, poor customer support, system downtime and the product instability issues. The difficult usage of the customization tools The netsuite customization tools are complimentary but these are limited and intuitive in function Conclusion This entire study made on the literature review on NetSuite, which is one of the leading accounting software in global accounting business world, has interpreted the success story of NetSuite across Australian business organizations. From the overall discussion, it can easily be stated as a conclusion that NetSuite has become one of the leading software in Australia due to its multi-dimensional applications in several accounting business fields. On the other hand, NetSuite has also successfully captured a huge market share amongst all the other leading financial service providing software such as SAP, Microsoft, sage and many others. Apart from that, it is a very simple logic that the enhancement in the competitive advantage would result in more capturing the market share in a specific country. Therefore, due to the increasing competitive advantage, this software is capturing huge market share in Australia as organizations in the country is more willing to adopt the services of NetSu ite. Recommendations There are several recommendations with the help of which the issues of NetSuite can be resolved. These are as follows: The consistency should be enhanced for the netsuite in order to work on cloud. On the other hand, the cost of this software should be minimized as it has been considered as this accounting software has a worldwide acceptance The improvisation of the customization tools is required so that people can find a user friendliness while using these tools in NetSuite. Reference List Boulianne, E., 2014. Impact of accounting software utilization on students' knowledge acquisition: An important change in accounting education.Journal of Accounting Organizational Change,10(1), pp.22-48. Dyt, R. and Halabi, A.K., 2012. Empirical evidence examining the accounting information systems and accounting reports of small and micro business in Australia.Small Enterprise Research,15(2), pp.1-9. Fossella, G.C. and Kennedy, K.F., Kokopay, Inc., 2014.Electronic Payment System Operative with Existing Accounting Software and Existing Remote Deposit Capture and Mobile RDC Software. U.S. Patent Application 14/211,110. Hyvnen, T., Jrvinen, J. and Pellinen, J., 2016. 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