ERP Implementation for Cockatoo Ridge Wines' Growth Strategy

The ERP plan of Cockatoo Ridge

Background  Cockatoo Ridge Wines currently exports 2,000 cases per year. Two of its business objectives are to increase its exports from 25% of distributions to over 50% within the next 12 months and occupy a larger proportion of the domestic market. However, the company realized its current reporting software would not allow it to reach these goals.  Cockatoo Ridge needed a solution that provided specific software functionality relevant to the wine industry that could also be tailored to its needs. In particular, Cockatoo Ridge wanted a package that would handle sales and distribution at the same time it allowed the company to report on any area within its operations, using a simple interface.

Project goals and objectives  The business need to use the information system as a System Analyst to design the company’s information system, mainly the accounting information system.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Key stakeholders

Characteristics and design of the new system  First, descriptions of accounting information resources. Information resources have gradually become a most important strategic resource of enterprises. The operation of enterprise accounting information system has significant influence on enterprise performance. Descriptions of accounting information system are mainly realized through the establishment of corresponding meta data.  Second, collection and organization tool of accounting information. This tool platform mainly includes user registration, management and maintenance, administrator station management and recommended resources of ordinary users.

Characteristics and design of the new system  Third, automatic monitoring on accounting information source and comprehensive data analysis. Data in accounting information resource library are analyzed mainly through the combination of manual review and automatic monitoring. Enterprise accounting information system can provide data obtained by automatic monitoring and analysis on automatically obtained basic index data.  Forth, excavation and provision of enterprise accounting information. Administrators can collect and analyze various accounting information, thus improving the accuracy and depth of accounting resources. However, types and categories of requirements of modern enterprises for accounting information are changing continuously and the model tool used to analyze accounting information is also updated.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Characteristics and design of the new system  Fifth, information feedback and interaction of enterprise accounting information users. The ultimate goal of enterprise accounting information system is to help users use various accounting resources more fully and effectively, thus serving different information requirements of users. Information interaction between users and the system and among users can play a vital role.

Hardware requirements  The main feature of this design method is that the same host computer is connected to multiple different terminals in this structure. As a computer with the best performance in the system, host computer can store all applications and databases in this system so as to handle and store data intensively. The terminal of this equipment does not have CPU or external memory. It is only supplied with input and output equipment. In terms of implementation, this system is a disk less workstation. They consider host computer as a big disk for sharing.

The solution  Finance and accounting models such as general ledger, accounts payable, accounts receivable, assets management, and cash management are all included in various ERP systems. The ERP system may accept, account for, and manage income generated by customers. The finance ERP system may also monitor and reconcile bank- related data to ensure they show a balanced number and accurately reflect the company's financial status.  Cockatoo Ridge Wines' approach is to deploy the Oracle financials module, which includes accounting and finance modules. Oracle financials is an ERP system that supports the company with accounting capabilities and report analysis of trial balances, ledger accounts, overall balance sheets, and quarterly financial statements.  The system can compute financial actions such as indexing, tracking, valuing, and actively managing the company's sof and hard assets.  Oracle's finance and accounting module is suitable for Cockatoo Ridge Wines because it provides configurable invoicing, automated tax calculations, a clear summary, and a speedier processing unit that takes data and prepares a budget without errors

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Compliance Features  Deep auditing features are the first compliance element of the company's new ERP system. The system should do extensive audits for the firm in order to fulfil regulatory requirements for tax reporting, preserve records of all transactions and sensitive information, and save operational data and metrics for the organisation.  Because Cockatoo Ridge Wines is increasing its wine distribution and sales in the worldwide market, the firm should have a system in place that complies with statutory reporting requirements, tax reports for government organisations, and timely information collection to save resources.  Comprehensive regulatory management is another compliance element of the ERP system before installation, particularly in the UK market. Comprehensive regulatory management capabilities guarantee that the new system is compliant with previous data and metrics for auditing and budgeting reasons

Key Implementation Strategies ERP implementation strategy 1) Prior to taking action, clearly state the needs. The key needs for implementing ERP accounting modules are employee training, technical, system, IT, and safety procedures. 2) Weigh and analyse the accounting and finance ERP module alternatives. To guarantee that data migration is handled efectively, the system adheres to the implementation timetable and involves all stakeholders in decision making. 3) Use processes to guarantee that all staf and employees are compliant. Customization choices should be thoroughly assessed to ensure that the system is not overly complex, allowing staf to understand it and lowering deployment and operations costs

Implementation Schedule Implementation Stage Timeline Understand the organizational culture and the need for the ERP system and right vendor Weeks 1-4 Selecting the appropriate ERP system by comparing diferent types of ERP systems Weeks 5-6 Hard requirements, staf training requirement, service and technical requirements Weeks 7-18 System testing, data migration and safety measures Weeks 19-22 System implementation Weeks 23-30

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Internal Control Processes  Cockatoo Ridge Wines' deployment of an ERP financials system that aids in the resolution of accounting issues as the firm expands its sales in a worldwide market necessitates an examination of the internal control process and the ERP's potential consequences.  A good internal control system in an organisation aid in the protection of assets and resources, the prevention and detection of mistakes, fraud, and theft, the correctness and completeness of accounting data, and the production of accurate and timely financial and management information.  The Oracle financials and FreshBooks will assist Cockatoo Ridge Wines in reducing mistakes in manual data collecting, which causes delays and fatigue of the company's assets and resources.  The deployment of an ERP system that includes finance and accounting modules will have a favourable influence on the business's activities by reducing waste of time and resources, minimising mistakes, and protecting the organisation from external threats such as cyber-attacks and system crashes. Furthermore, the benefits of excellent internal control include the simplification of audit processes, the organisation being more audit friendly, and tax reporting being completed on time and properly

Data Migration Process  ERP implementation is a multi-layered, complicated endeavour that needs carefully planned and managed. One of the important layers is the part of migrating your data to the new ERP system. Data migration is the process of organizing, restructuring, copying, and migrating data from your old ERP systems to your new solution.  The data migration process at Cockatoo Ridge Wines is an important phase in the implementation process to ensure the system fits properly inside the company. Data migration is critical to the success of an ERP deployment and should be done properly while adhering to the transition criteria from the old to the new system. The key steps and strategies involved in the data migration process include identifying the data to be migrated and allocating enough time to facilitate data migration in order to avoid losing critical information about suppliers, customers, or employees, as well as avoiding allowing unauthorised users access to the information. There are steps you can take that help company make sure the ERP data migration process proceeds without glitches and in as short a timeframe as possible. 1) Analyse the data migration project 2) Review your data and processes 3) Assign the right people 4) Remember that time is of the essence 5) Test and fix issues, if needed

Cost-Benefit Analysis  The cost-benefit analysis for Cockatoo Ridge Wines ERP system deployment shows that the advantages surpass the costs, and the costs are justified since it will allow the firm to perform sales and distribution of products more conveniently and quickly. The system's key advantages include accounting solutions, time and resource efficiency, minimising mistakes associated with manual data entry, and preparing appropriate reports and documents quickly and accurately. On the other hand, the purchase and implementation costs are a colossal waste of money; but they will be a profitable investment for the organisation in the long term.  Other costs include staf training, new hardware, maintenance, and other incidental expenses. According to the report, Cockatoo Ridge Wines will gain from installing the ERP system.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Staff Training Requirements  Employees and staf at Cockatoo Ridge Wines should get ongoing training and instruction on how to use the new system to its full capacity.  Employee training on how to use the ERP system, which includes accounting and finance modules, will assist the organisation in meeting its goals, saving time, avoiding errors, and simplifying the process of collecting and reporting data. The company should budget for ongoing employee training and even invest in post-implementation training to ensure employees are familiar with the new system in order to maximise productivity and provide support in understanding how to avoid leaving room for hackers to exploit and system crash and failure.  To prevent spending time on training and disregarding the firm's usual duties, the training programme should begin with a core group that will assist teach the other subordinate workers. As a result, Cockatoo Ridge Wines requires a budget for employee training, monitoring, and support in order to properly adopt the new ERP system

Technical Support Requirements  Cockatoo Ridge Wines should have a system in place before implementing an ERP system that supports IT and internet services, has skilled and experienced staf who will manage the system, and assures a seamless transfer to the new system. Hired technicians should be ready to lead the system and train the rest of the personnel on how to utilise and maintain it. Furthermore, the organisation should have safety safeguards in place to avoid exposing the system to cyber danger and causing it to fail.  Furthermore, the system required comprises public clouds, on-premise servers, and servers that will connect the ERP system to the firm's divisions to create a single, rapid, and efficient procedure.

Risks and a Contingency Plan

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Production (Oracle)  The connection parameters for Oracle are the same as the schema options. There is also the option of querying a TimesTen database rather than an Oracle database and selecting transactions from an Oracle RAC cluster. The sample interval is determined by the refresh rate.

Production (Oracle) • Oracle Accounting Events Transaction

Production (Oracle) • Oracle Accounting and journal entry details.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Conclusion  In summary, the research evaluation tackles the Cockatoo Ridge Wines EPR project to solve accounting issues and provides a faster and more reliable procedure that can manage numerous operations in document preparation, budgeting, and data gathering. As the firm expands its operations in the United Kingdom and the United States, it requires an EPR sofware that combines general ledger finance and accounting modules, receivables, accounts payable, invoicing, cash and asset management. The paper covers the processes required for ERP deployment, such as analysing the needs for implementation, including staf training, technical, system, and reporting requirements, as well as system testing.  Cockatoo Ridge Wines implementation schedule covers the main processes and examines the perceived risk of the system and a contingency plan to handle the risks.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Thank you for listening

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Ball_FNSACC505_Task 3_presentation partC_Revise

Related Documents