⦁ Organisational structure
B.Box Company is a manufacturing company for kids product. The company consists of fi employees in Australia and has acliiei ed the “Top Exporter” Award in 2017 The coitipaiij » as founded in 2007 and they u ere suffering from lack of innovation in their products. At the initial period of thcir business. due to lo»’ financial support the company could not incorporate cffcctii’c technology for product supply. dclii’cr; and production. Later. the compare successfully innoi’ated draper u’allet” products u hich increased their revenue upto 5.7 million AUD and reflected the 300 2% grow 'th of the company‘ (business i’ic. gov.an. 2018). Thus. the company has started supplying these products in the international market » ith their online marketing stratep and their 50-80% revenue come from the global export. Along » ith the online retailing. the company has successfully incorporated 75G retailers including Chemist Warehouse storcs and Baby Bunting shops (smartcoinpani .com.au. 2Gl S). Hoii’ci’cr. thc main rci’cniie of their production comes from their e-retailing.
⦁ Causes of incfficienci and error issucs in organisation
Prci iously, the company » as dealing » ith thc local markct i 'itli fe» rctailing shops Along » ith this. the number of products u ere not enous h and they did not ha e any rumor ation. Accordi • s to Akhmetsliin and Osadchy (2015. p 895), in order to increase the production and customer outcomc a company nceds to incorporatc strategies of innoi’ation in tcchnologj and product type Hou’ci’cr. after the innoi’ation the company had different issues in their technology’, The accounting process of the company u’as ineffectii’e. As opined by Andersson e/ o/. (2Gl ñ. p.153). a huge amount of data. financial calculation, cost budgeting. balance sheet maintenance hat e bccn hampgrcd din to lack of human resource or technology support. Thus. it has bccomc necessary to incorporate accounting softu’are system in the business. On the other hand. after the E-retail business strate gy impleitientation. the company required to ink oli’e automated accounting tool i 'hich could do the above mentioned tasks along » itli customer data dealing. product sale maintenance. demand of products. acancy and other issues u itli a effective sert of soft»’are It has been noticed that. being an e-coinmercc rctailcr company. ther are hai’ing issues in ordcr to do such ii orks and it is impacting on thc rei’cniic.
Probable system acquisition method
The company can incorporate custom software system in order to customise theiti according to the needs to the company such as NolaPro Accounting software. In order to measure the financial perfonnance and condition of the B.Box coiiipariy, the manager, on ner and stakeholders necd to hai’c a propcr accounting systcm in a company which is knoii’n as the langiiagc of a biisincss” As opined bi Bninsii ickcr and Vanhai’crbckc (2G15. p 1241). in am business organisation. tu’o major types of accounting process are conducted ii hich are management accounting and financial accountmg. In case of the B.Box company the inanagcment accounting process is necessao in ordcr to strengthen tlic human resources, production and supply management. As for this reason. the NoIaPro Accounting soft»’are can be implemented. More than l0t1 add-ons and oi’er tons of setup choices are proi’ided bi the soft»’arc system. On the othcr hand. it is cffcctii’c to dci’clop the financial accounting bj its autom;itcd and »’cb-based applications »’hich can goncr;ite an instant financial management, According to Cassar ci o/. (2015, p.242). the instant online purchasing, reporting protection of customer data and recording can be done with the help of effective accounting soft» are such as NolaPro, On the coiitrair, Dimitriu and Matei (2014. p.540) argued that. in order to incorporate new technology in a company. especially in a small company. the cost of the concerned technology needs to be evaluated.
Procedure of sales in B.Box company
Being a B2C company, the B.Box is having a huge number of international direct sellers. According to Mian et aI. (2016, p.I), the significance of a B2C business is the less iirvolvement of third party as a result the sales revenue is huge. Love and Roper (2015, p.28) supported and commented that, 85% manufacturing e-commerce companies are following the B2B business strategy. As the B. Box company does not have any intermediate business holders such as B2B companies. they have the responsibility to generate their own accounting process. Thus, NolaPro is effective for the company to handle customer's data with the help of their ‘go-between“ strategy. On thc contrnri La»’ (2010. p 366) arg@d that. in ordcr to incrcasc thc accounting and sales process of a company . they need to develop their marketing strategy In case of a B2C company. the marketnig can be conducted by social media, telebranding and other direct methods. Larrucea ct o/. (201I›. p.85) supported and commented that. kid product based companies can campaign and collaborate with hospitals and nursing homes for the ir product promotion. Thus. thc company can collaborate ii ith the local hospitals such as OaLlcigh Family medical ccntrc. Box Hill Hospital and others Along ii’ith this. thcy can usc Faccbook. LinLcdln. Tu itter and others for increasing sales.
S. Fraud identification system in busincss
The B2B companies often suffers froiii online fraudulent actin ities According to Hossain (2015, p.fi). the online fraudulent actin ities on the automated accounting softu are is a common thing that has been noticed in manj companies. In case of the internet giants such as Amazon. EBay and Alibaba. duc to the cxcessn’c fraiidiilcnt actii’ities. thci hai’c incorporatcd the Big Data analytics. Herl iana (2015. p.151) supported and commented that. u ith the help of effectii’e big data mode l, a huge amount of accounting. customer and management data can be stored. Along ii ith this, the B.Box company can protect their accounting stem i 'itli the help of this Big Datn model Thus. the company can effectii ely incorporate a Big Data iiiode l in their business u hich can protect the accounting sofiu’are also. On the other hand. the company needs a regular scciirity and daia assessincnt ii’hich can also be donc bi the Big dais analj sis. According to Giiarascio e/ n/. (2915, p,167). the 3-V model such as Volume, V;irictj and Velocity help a company to achiei e a huge amount of consumers in a short period of time. As for this reason, the company can achiei e sustainability iii the competitii e market.
⦁ Dene* i'• Cntorai tion of i'• ckagc of accounting softu are
As the coiiipany is hat ing only fi employees including the maiiageitient. it is important for the company to ink of e itiore human resources Ho» ei er. instead of incorporating more human resources, the company can include according technologies. As stated by Freel and Robson (2017. p 578) that. in casc of the B. Box company the management accounting proccss is ncccssar; in ordcr to strengthen thc human rcsourccs. production and supply managcmcnt. According to Dimitriu and Matei (2014. p.840). u ith the help of effectis’e market anale sis a company can be a» are about the recent trend. practices and future of the incorporated strategy On the other hand. after the evaluation, the company can incorporate the technology and recruit some trainer to gi e training to the users Cassar ct o/. (2015, p 242) argued that in order to incorporate next technology in a company. especially in a small company. the cost of the concerned tcchnologi nccds to bc ci’aliiatcd Additionally. ii ith thc hclp of cffcctii’c training the employees can access the the softu are system The straining can be conducted on the NolaPro Info Sheet. API Developer Guide, Integration for Ecoiniiierce or CRM. Partner Registration, Branded Wiiite Label Application and others.
⦁ Current market size
At the initial phase of the company, it u as promoting its business in the Oakleigli region of australia Hoii’ci’cr. aftcr 3 i’cars. the compare has startcd to grout their business in thc Ncii Zealand market, Non the company is celebrated u ith 750 retail store in the ludo-Pacific market. Most of the market of the company are situated in Korea and China u ith a strong demand. On the other hand, the coinpanr is not emerging in the US market. The most impressive aspect that has been taken bi the company is to targct the major population of Asia, Ho»’ci’cr. b@ng the B2B business model. the company has also eradicated the competitive rim aln’ of big brands such as Amazon, Alibaba. Ebay and others. Along ii itli the online retailing, the coitipany has successfully incorporated 750 retailers including Chemist Warehouse stores and Babj Bunting shops (sinartcoinpany coin.au. 201I›). Hon ei er. the main revenue of their production comes from their c-rctailing It has bcen noticed that. the company has no»’ startcd a parallcl importing of materials fonn Korca as a hugc amount of high quality ran materials arc ai’ailnblc in this market in a lou price. It has been noticed that. in 2G 13 to 14 the revenue of the company u’as of 1.4 million AUD u'liich has been increased 5.7 million AUD in 2015 to 2016 (smartcoinpaiii.com.an, 2018).
⦁ Lca‹lers an‹I their comj›ctiti e advantages
In spitc of hax'ing such opportunity to grow their business. thc rci'eniie of thc company is not satisfactoy’ in the recent fcii pcriods The lcading B2C companics arc Ubcr. Transfcrii’isc. Zettle. Spotify. SoiindCloud. Nextdoor and many more are achieving coinpetitii’e adi’antage due to their technoIog›' innovation. According to Brunsu icker and Vanhai erbeLe (2015, p 1241), ii ith the hclp of cffectii e technology innovation in an organisation, the business can eradicate the issue of competitive rim airs . Critically'. it can be stated that. along with the business accounting si stein. the load of u’orL to the employees can be low ered as a result the employ ee satisfaction and retention can be increascd On the othcr hand. Andersson e/ of. (2010. p.102) argued that. most significant aspect of the tcchnolog innoi’ation in a company is the globalisation of business. It has been noticed in B. Box company, after incorporation of online e- retail set-up, the company has reached a major number of people (smartcompany.com au, 20 l8).
In order to mitigate the issues of accounting. the company needs ro incorporate modern automated accounting softer are. Aitiong the trendy soft» are. the NolaPro softi are is the most applicable one which needs to be irrvoli ed in the manual accounting » ork On the other hand, the company needs to ink oh e ICT (Information and Communication Teclmology) in the company in order to iinproi’e thcir ciistoincr scri’ices. Thus. in order to incorporate the NolaPro softii’arc along ii ith the support of Big Data analysis. thc company has to conduct a market analysis at first. Along ii ith this. the current trends. customer demand. their satisfaction and loyalty should be increased with the efficient servicing In this ii‘ay. the company can increase their business and achieve sustainability in competitii e market
Hencefonh. it can be concluded that. the abo e scenario is highlighting the need of technology innoi’ntion and incorporation in a business organisation. In spitc of hai’ing sufficient financial ini’estment hazards. successful technology innoi’ation can enable a company s grou’th in a better » aj It is a kind of strategic itianagement that the B.Box coitipa»y needs to incorporate Ho» e cr. hic major gap has bcen noticed as hic coinpan› docs not possess sufficient strci gth of human resource Thus. it is important for the company that. it immediately incorporate strategic innoi’ation the accounting softu are in order to conduct a protected business opportunity in the global scalc.
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