Quick books accounting package is commonly utilized by numerous companies in Australia. It was first invented and branded by the Intuit firm in the year 1982. Initially, QuickBooks Intuit software does not support financial transactions involving double entries. However, over time improvements were made in its functions. Moreover, in the year 2003, it was observed that the workflow of several small and medium enterprises in Australia was reduced by a significant percentage because of the effectiveness as well as the efficiency of the improved accounting system in the organizations. The new version created in 2003 also intended to minimize the frauds and errors arising due to human activities in the organization.
Wide usage of accounting systems under the ERP systems has been first observed in Australia in early 2000. Along these lines, the QuickBooks Intuit accounting system was the first component of the strategic information system utilized by the organizations. Improvement in the performance of several business organizations in Australia because of the implementation of the new accounting information systems. As per the research, QuickBooks serves nearly 33.000 users in Australia. Nevertheless, these statistics demonstrate that the market position of accounting software is still growing. Australia is the fastest-growing region for Intuit.
Small and medium enterprises are the leaders of the QuickBooks accounting software in Australia. This group of organizations utilizes QuickBooks to establish coherent relationships with the customers by improving the performance of the companies. The competitive advantage of QuickBooks software as well as its significance in relation to different organizational operations. The authors stated that following the implementation of the new strategic information systems, organizations have again a competitive advantage. This is because the software allows the firms to track and monitor their business profits as well as other associated operations.