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Your company is currently using Xero as their accounting information system.
Your company is currently using Xero as their accounting information system. The company's Managing director has asked you the accountant to evaluate moving to NetSuite- an all-rounder ERP (Enterprise resource planning system). You have to conduct some research on this product and recommend whether the company should make the move or not.
Some factors to consider in evaluating the new system would be as following:
Legislative requirements like reporting and auditing requirements
Accounting and bookkeeping policies relevant for financial control
Stakeholders' needs analysis
Financial and budgeting needs of the company
Relevant security, fraud and internal control mechanisms
Cost benefit analysis
Conversion issues/ legacy systems
