Note: No copy-paste from the internet or any other Chegg expert answer (Minimum 600 words please)

MYOB is a leading provider of business management solutions for small to medium size organisations in areas including accounting, payroll, job management and financial reporting.

Background Codecom, with Melbourne and Queensland offices, covers a broad range of telco services for companies of all sizes. Whether its a commercial installation or creating connectivity solutions, Codecom covers everything from hands-on installation to back-end equipment and accessories supply1.

Tasks

By reviewing the case study of Codecom you are required to write the answers addressing the following tasks:

1. Outline the specific functions provided by MYOB software (Kindly check MYOB software as I can't paste the link here). 2. Discuss the problems of using a manual accounting system. 3. Outline the benefits of using an online accounting software tool.

Case Study

Case Study MYOB Advanced Client Codecom | Partner Business Hub | Location Australia Product MYOB Advanced Business | Industry IT Services CODECOM A move to the cloud rings true for Codecom Established in 2006, Codecom has grown to be a leading supplier and manufacturer of cutting edge telecommunications equipment. Based in Melbourne and the Gold Coast, Codecom covers a broad range of telecommunications needs for companies big and small. Their sphere of work includes initial scoping requirements for major commercial installations, creating connectivity solutions and definitive implementation strategies, as well as the 'hands-on' installation of structured cabling, fibre optic cabling, plus the back-end supply of equipment and accessories. Problem Meeting demands and expectations Codecom knows that when you're delivering the very latest global technology solutions and equipment to your clients, you can't afford to be anything less than leading edge yourself. As Courtney Purcell, General Manager (Commercial) for Codecom points out, "We deliver industry-leading communications solutions, and build our reputation on quality, innovation and professionalism, so we have to ensure every aspect of our own business is equal to what we give our clients." As growth continued, Codecom realised that running two platforms MYOB AccountRight for accounting and Excel for logistics, invoices, quotes etc was putting a strain on the business. As Purcell notes, "The way we were working had become inefficient, with many functions being manual and time consuming, and this in turn impacted on managing stock, purchase orders, invoices, not to mention a lack of visibility across all functions of our business." "The way we were working had become inefficient, with many functions being manual and time consuming. Solution Future proofing calls for cloud-based ERP solution Given that the cost of purchasing and implementing a completely new business management system is significant, the team at Codecom carefully evaluated their options. After dismissing a number of products they contacted David Taylor at BusinessHub and after much consideration Codecom settled on MYOB Advanced. Purcell explains, "The functionality of MYOB Advanced met our many needs including customer special pricing, advanced stock management, a customer portal as well as CRM," and beyond these features, Purcell adds "We definitely wanted the system to be cloud-based." A detailed scope and understanding of Codecom's business was initiated. This 'business diagnostic mapped Codecom's current business processes, and helped determine where they wanted to be in the future. Existing data was reviewed and migration and configuration options were suggested, with requirements around customer special pricing & inventory (orders and codes to use) a major priority. The team at Codecom then went through the MYOB Advanced beta program, followed by a pilot program which gave them the opportunity to understand the operation of the software. Finally, once the migration of all the excel information including customer price deals, stock sheets and purchase order details etc was locked in, the BusinessHub team completed functional training prior to the 'go live as well as providing the post 'go live support to assist with the basic processing. Outcome Connecting with future success Codecom's move up to MYOB Advanced has been an unqualified success says Purcell, "Running every aspect of our business is 100% easier, particularly as we've really streamlined our processes and improved the accuracy of inventory and our customer pricing," and she adds, "now that we're cloud-based all aspects of our business are accessible everywhere, to the staff that need it." With MYOB Advanced, Codecom now has many valuable insights into their business that were previously unknown. Things like customer buying patterns and back order visibility and fulfilments, which enable them to make more informed and agile business decisions. With their ERP software now in the cloud, Codecom's business has been transformed, with all team members having access to accurate information at their fingertips, anywhere, anytime. This is vital to the decentralised workforce around AU and NZ and ensures accurate landed costing, accurate invoicing for quoted prices by sales reps, and accurate inventory to meet customer demands. From a financial perspective, another positive for Codecom has been the significant changes to the invoice structure that has driven a decrease in days to pay and increased overall cash flow, which is always good for the bottom line. "Now that we're cloud-based all aspects of our business are accessible everywhere, to the staff that need it." Before After + Running two platforms across the business was becoming increasingly inefficient + Cloud-based system allows team members to have accurate information at their fingertips, anywhere, anytime + Business processes at every level are now streamlined with big gains in efficiency + Many functions were manual and time consuming + Precise insights into inventory ensures accurate quoting and more satisfied customers + Limited visibility across the operations meant less informed business decisions + New invoice structure has delivered a decrease in days to pay and improved cash flow. Case Study MYOB Advanced Client Codecom | Partner Business Hub | Location Australia Product MYOB Advanced Business | Industry IT Services CODECOM A move to the cloud rings true for Codecom Established in 2006, Codecom has grown to be a leading supplier and manufacturer of cutting edge telecommunications equipment. Based in Melbourne and the Gold Coast, Codecom covers a broad range of telecommunications needs for companies big and small. Their sphere of work includes initial scoping requirements for major commercial installations, creating connectivity solutions and definitive implementation strategies, as well as the 'hands-on' installation of structured cabling, fibre optic cabling, plus the back-end supply of equipment and accessories. Problem Meeting demands and expectations Codecom knows that when you're delivering the very latest global technology solutions and equipment to your clients, you can't afford to be anything less than leading edge yourself. As Courtney Purcell, General Manager (Commercial) for Codecom points out, "We deliver industry-leading communications solutions, and build our reputation on quality, innovation and professionalism, so we have to ensure every aspect of our own business is equal to what we give our clients." As growth continued, Codecom realised that running two platforms MYOB AccountRight for accounting and Excel for logistics, invoices, quotes etc was putting a strain on the business. As Purcell notes, "The way we were working had become inefficient, with many functions being manual and time consuming, and this in turn impacted on managing stock, purchase orders, invoices, not to mention a lack of visibility across all functions of our business." "The way we were working had become inefficient, with many functions being manual and time consuming. Solution Future proofing calls for cloud-based ERP solution Given that the cost of purchasing and implementing a completely new business management system is significant, the team at Codecom carefully evaluated their options. After dismissing a number of products they contacted David Taylor at BusinessHub and after much consideration Codecom settled on MYOB Advanced. Purcell explains, "The functionality of MYOB Advanced met our many needs including customer special pricing, advanced stock management, a customer portal as well as CRM," and beyond these features, Purcell adds "We definitely wanted the system to be cloud-based." A detailed scope and understanding of Codecom's business was initiated. This 'business diagnostic mapped Codecom's current business processes, and helped determine where they wanted to be in the future. Existing data was reviewed and migration and configuration options were suggested, with requirements around customer special pricing & inventory (orders and codes to use) a major priority. The team at Codecom then went through the MYOB Advanced beta program, followed by a pilot program which gave them the opportunity to understand the operation of the software. Finally, once the migration of all the excel information including customer price deals, stock sheets and purchase order details etc was locked in, the BusinessHub team completed functional training prior to the 'go live as well as providing the post 'go live support to assist with the basic processing. Outcome Connecting with future success Codecom's move up to MYOB Advanced has been an unqualified success says Purcell, "Running every aspect of our business is 100% easier, particularly as we've really streamlined our processes and improved the accuracy of inventory and our customer pricing," and she adds, "now that we're cloud-based all aspects of our business are accessible everywhere, to the staff that need it." With MYOB Advanced, Codecom now has many valuable insights into their business that were previously unknown. Things like customer buying patterns and back order visibility and fulfilments, which enable them to make more informed and agile business decisions. With their ERP software now in the cloud, Codecom's business has been transformed, with all team members having access to accurate information at their fingertips, anywhere, anytime. This is vital to the decentralised workforce around AU and NZ and ensures accurate landed costing, accurate invoicing for quoted prices by sales reps, and accurate inventory to meet customer demands. From a financial perspective, another positive for Codecom has been the significant changes to the invoice structure that has driven a decrease in days to pay and increased overall cash flow, which is always good for the bottom line. "Now that we're cloud-based all aspects of our business are accessible everywhere, to the staff that need it." Before After + Running two platforms across the business was becoming increasingly inefficient + Cloud-based system allows team members to have accurate information at their fingertips, anywhere, anytime + Business processes at every level are now streamlined with big gains in efficiency + Many functions were manual and time consuming + Precise insights into inventory ensures accurate quoting and more satisfied customers + Limited visibility across the operations meant less informed business decisions + New invoice structure has delivered a decrease in days to pay and improved cash flow