B Bakery is a family owned firm with around 70 employees and sales revenue increased to more than $ 13.5 million during the past year. It has been in business for over 50 years and supplies bread and confectionary products to a number of different businesses, including supermarkets and pub-chains. The firm has experienced mixed fortunes over the years in terms of business performance, but in the last few years has experienced a growth in orders for some of its new healthy product ranges. However, the Bakery has recently lost some key accounts as a result of being unable to produce some of its products at a competitive price.

Although the firm hired an accountant who was keeping their books for them and producing the financial statements each year, the firm thought they needed much more information to really run their business efficiently. They felt that they needed to make an investment in an accounting software to take their business to the next level.

1. Develop business requirements

What processes are indispensable to be performed? (350 words)

What outcomes are required from these processes to achieve business objectives? (350 words)