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 requirementsAccounting and bookkeeping policies relevant for financial controlStakeholders’ needs analysisFinancial and budgeting needs of the companyRelevant security, fraud and internal control mechanismsCost benefit analysisConversion issues/ legacy systems
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