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Accounting System
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Accounting System
Student Name
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Executive Summary
This paper, we would be evaluating & discussing inside out related to the accounting software selection and application with respect to the chosen listed company BHP Billion. This would help us to understand the need, requirements and ensuring ways through which we can integrate the new accounting software within the company settings.
In this paper, we would be giving a brief about the company, types of the software & steps to select the adequate software along with the vendor selection. We have chosen BHP Billion and tried to implement software selection with respect to the key business process for BHP is to drive growth (Rahman, 2015). This company is the producer of so many mineral commodities which include iron ore, metallurgical coal, copper, and uranium.
Table of Contents
Introduction……………………………………………………………………………………………………………………………………4
Background……………………………………………………………………………………………………………………………………4
Business Requirements………………………………………………………………………………………………………………….5
System Requirements……………………………………………………………………………………………………………………6
Software Selection………………………………………………………………………………………………………………………..7
Vendor Selection………………………………………………………………………………………………………………………….8
Conclusion……………………………………………………………………………………………………………………………………9
References…………………………………………………………………………………………………………………………………..10
Introduction
In order to implement & ensure we are able to select the software and apply it within our company system, it is important to understand the company needs & match it with the desired accounting software needs. For this, we would understand the business process which includes the development of such models which can lead to maximum results for both the producer and the subsequent client.
In this paper, we would be evaluating our chosen BHP Billion and tried to implement software selection with respect to the need of the expected outcome with respect to the supply company ready to respond the challenges along with the underlying opportunities with respect to the strongly applied with terms of the changing global markets and geographical situations (Wells, 2018). They carry out their activities which are of economic in nature but doesn't allow to harm mankind and environment in any respect.
Company Background
BHP Billiton Ltd is an Anglo Australian global company with the businesses of mining, petroleum, and metal which was formed in the year 2001 as a result of a merger between BHP and Billiton (Sanders, 2016). BHP was actually incorporated in the year 1885. BHP stands for Broken Hill Propriety Company ltd. Whereas Billiton was an Indonesian company which was incorporated in 1851 which started with tin mining and moved on to producing aluminum, chrome, manganese, alloys etc and became a world leader. This merger is a huge success. The headquarters of this billion dollar company is situated in Melbourne, Australia. The CEO of the company is Andrew Stewart Mackenzie at present. Its parent organization is BHP Billiton Group. This is the second largest mining company across the globe in terms of revenue (69.4 billion dollars). Its annual turnover is 3828.5 crores USD (Simkin, 2018). Today there are over 65000 employees and contractors working with the company.
India is a nation where economic growth and development is taking place at an accelerated rate. It is a nation of high caliber, desire, and opportunities which all the developed nations of the world want to take advantage of. The situation has just got better in the past two decades. BHP Billiton is one such company who has done numerous investment in terms of exploration and educational development in the past 15 years.
Business Requirements
A business process is said to be the collection of activities through which organizational goals are achieved and customer satisfaction is attained.
Its segments are petroleum, copper, iron ore, and coal and has products diversified into three categories. Steelmaking products (iron ore, metallurgical coal, and manganese) in ferrous products( copper, aluminum, nickel, diamond) and energy products (petroleum, energy coal and uranium).
Their key business process includes setting a business strategy and aligning operations with the decided strategy. The business process helps in identifying the failures and bottlenecks and inefficiencies and thus helps to overcome them. The advantage of the business process BHP Billiton gets is it improves the communication and reduces the barriers of communication within and outside the organization.
It increases control and consistency (Newman, 2015). And also improves operational efficiency and gain a competitive advantage which in turn has made BHP Billiton LTD a world leader in mining and resourcing.
System requirements
A software system of a firm or a company should be in accordance with its nature and self-system. It should be easy to use and smart simultaneously. A company should invest in a system software by thoroughly visualizing its features and adaptability. A good system software should be smart and adaptable, secure, should be compatible with your size of business, whether it’s a large scale enterprise or small or medium scale enterprise. It should make the whole work manageable, it should have the ability and capability to adopt changes and get upgraded from time to time (Nadeem, 2016). Some particular features a system should carry with compliance to mining industry such as BHP Billiton Ltd. are
# 3D modeling
# cross section creation
# data exchange
# data storage
# fence diagrams
# log map creation
# people tracking etc.
All these features are must have in a...