Implementation of ERP System at Maybank: Significance, Challenges, and Project Planning

In this assessment we will discuss about erp system at maybank and below are the summaries point:- Maybank, a prominent bank in Malaysia, aims to implement an ERP system to manage complex banking operations efficiently. The paper evaluates the significance of ERP implementation at Maybank, discussing challenges and project planning. Issues identified include the need for managing retail banking, corporate banking, and wealth management operations effectively.

Running head: IMPLEMENTATION OF THE ERP SYSTEM AT MAYBANK
IMPLEMENTATION OF THE ERP SYSTEM AT MAYBANK
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1IMPLEMENTATION OF THE ERP SYSTEM AT MAYBANK
Executive Summery
The functionalities of the banking sector are growing complex day by day. Earlier days the
functionalities of the banking sector were limited to a certain boundary. However, in the modern
day banking practice, banking organizations have to maintain and manage different operations
apart from the retail banking. In order to manage all these tasks efficiently, there is a need to
implement the enterprise resource planning in the banking organizations. This paper will help to
evaluate the significance of implementing the enterprise resource architecture in Maybank,
Malaysia. In the context of the discussion the problems and the challenges will be discussed.
The conclusion can be drawn from the factors identified in the assessment.

2IMPLEMENTATION OF THE ERP SYSTEM AT MAYBANK
Table of Contents
Introduction......................................................................................................................................3
Identified issues:..............................................................................................................................3
Description of the project plan:.......................................................................................................4
Explanation of the project plan:.......................................................................................................5
Methodology used and its application:............................................................................................5
Project highlights, set-backs and problems:....................................................................................7
Set-backs and problems:..................................................................................................................8
Project outcomes:.............................................................................................................................9
Recommendations:..........................................................................................................................9
Conclusion.....................................................................................................................................10
References......................................................................................................................................11

3IMPLEMENTATION OF THE ERP SYSTEM AT MAYBANK
Introduction
Maybank is one of the renowned banks in Malaysia. The functioning of the bank
includes retail banking which is associated with serving the consumers of the bank (Tian & Xu,
2015). Apart from that the business of this banking organization includes corporate banking that
includes business with the corporate sectors through making the investments and providing them
loan. Apart from that the Maybank provides wealth management to the users.
The main objective of this paper is to understand the significance and the use of the
enterprise resource planning at Maybank. In this context, the advantages and the challenge have
also discussed (Bakunzibake, Grönlund & Klein, 2016). The discussion will highlight the
methodology for the implementation and the objective of the project plan.
Identified issues:
The main objective for the implementation of the enterprise resource planning at
Maybank is to manage the data and the information (Almajali, Masa'deh & Tarhini,2016). The
bank has different departments for the functioning. In this context, implementation of the
enterprise resource planning will help in the synchronization of workings from the different
departments.
Apart from that the management of the data and the information can be managed
automatically. This will bring the flexibility in the functioning and will reduce the dependency
on the manual process. The modified process can decrease the number of errors in the system.

4IMPLEMENTATION OF THE ERP SYSTEM AT MAYBANK
Description of the project plan:
The proposed ERP system for the Maybank will manage three types of functioning for
the Maybank. Three types of functioning are operational management, tactical management and
strategic management (Clegg & Wan, 2019). The operational management will help to manage
the day to day work for the bank. This will largely manage the operations of the retail banking.
Tactical management will include short term decision making and middle level management
decision making. Strategic management will include making the long term decisions those will
indicate the future direction of the Maybank.
The proposed implemented ERP system will help in managing the financial system and
back office operations. The operational management will in cooperate all payment transactions
along with maintaining the transaction data (De Toni, Fornasier & Nonino, 2015). This will also
include the monitoring of the transactions. The process will be automated so that there will be
less chance for the human error (DZIEA, Sikora & Nowak, 2016). The preparation of the
financial statements and the keeping the records for the bank will be also managed by the ERP.
The portfolio management for the organization can be done with the help of the ERP
system. This will help Maybank to understand the functioning and the necessary actions needed
to be taken in order to modify the business and the functioning of the bank. This will also
indicate the areas for the improvisation.
Functioning of the Maybank includes managing the large amount of data. The data can be
the information about existing consumers of the bank. Moreover, this also includes managing of
the transaction and organizational data. The bank is currently facing the problem regarding the
storage and maintaining the information.

5IMPLEMENTATION OF THE ERP SYSTEM AT MAYBANK
Explanation of the project plan:
In order to implement enterprise resource planning for Maybank, proper project
implementation plan is needed to be maintained. At the initial stage the analysis of the
requirement is needed to be done. The requirement gathering can be done on the basis of the
current needs of the bank and the type of functioning of the bank (Bansal & Agarwal, 2015).
During the gathering of the requirement phase, all the stakeholders of the bank are needed to be
considered. On the basis of the requirement, the planning is done. Planning is about making the
blueprint for the development of the project. The execution phase is associated with the
implementation of the enterprise resource planning at Maybank.
The evaluation of the system after the implementation is important in order to analyze the
effectiveness of the system (Shen, Chen & Wang, 2016). In this case, the monitoring and control
phase of the project is important. In this phase, the evaluation of the implemented ERP system
for Maybank can be done in a proper way (Chang et al., 2015). Based on the evaluation and
feedback, modifications can be made on the system. After the evaluation and the modification, if
the implemented ERP can serve the desired result, the project can be closed. In this context, it
can be said the implementation of the project is successful.
Methodology used and its application:
System development lifecycle is used for the implemented of the ERP system at
Maybank. System Development Life Cycle (SDLC) is defined as the systematic process for the
implementation of the software and information technology system in the organization (Saade &
Nijher, 2016). In this case, the proposed ERP is software that manages the functions of
Maybank, hence the use of SDLC methodology is justified.

6IMPLEMENTATION OF THE ERP SYSTEM AT MAYBANK
There are many techniques to apply SDLC methodology in the implementation and the
selection and the right approach is done on the basis of the requirements. In this case, the agile
methodology has adopted for the implementation of ERP system. The main reason for choosing
the agile methodology is that this methodology is flexible. The implementation of ERP system
may needs changes during the development of the project. Following are the steps for the
development of the ERP system for Maybank:
Baseline:
The baseline of the project consists of four steps-
 The preparation of the project which includes mentioning the roles and responsibilities of
each members of the team (Mauro, 2018). Apart from that in these steps the specification
of the hardware and the software those can be used is mentioned.
 Envision process will deal with all the operating process in the organization. Apart from
that the identification of the dependent conditions are identified in this step.
 The function base line system will deal with the implementation of the basic and
modified functioning for ERP.
 Evaluation process will analyze the performance of the ERP.
Sprint Realization:
Sprint Realization consists of five steps. These steps are-
 At the initial phase sprint planning meeting can be done in order to define the target for
the implementation to the team.

7IMPLEMENTATION OF THE ERP SYSTEM AT MAYBANK
 In the delta realization, the implementation team will become aware about the
information and resources needed for the implementation.
 The daily status about the progress of the project can be discussed and recorded through
the daily meetings. In case, if the team member faces any problem he or she can discuss
that matter with the project manager or team leader. This will help to enhance the flow of
the communication in the project team.
 Sprint demo sessions can help to determine if the demo system is meeting all the
requirements and the objectives.
 After the demo session, the sprint review can be done in order to identify the areas for
improvements.
Project highlights, set-backs and problems:
The project is about the implementation of ERP at Maybank. The main objective of the
ERP system is to manage the functionality of the Maybank. This will bring the flexibility in the
management system of this banking organization (Chofreh et al.,2016). The data and the
information can be managed effectively. Apart from that the security of the information and the
system can be enhanced in a certain extent.
Maybank can take the advantage of the ERP system implementation in the competitive
market. This will help the bank to perform well compared to the other banks. Apart from that the
implementation will help the bank to provide better service to the consumers of the bank. The
synchronization of the different functionalities from the different departments can be managed
effectively through the ERP implementation.

8IMPLEMENTATION OF THE ERP SYSTEM AT MAYBANK
Set-backs and problems:
During the implementation phase and after implementation of the enterprise resource
planning, Maybank can phase certain problems. Some of these problems are related to the
implementation problems. The possible problems regarding the ERP system are as follows:
 Selection of the ERP: The selection of the ERP may not meet all the requirements of
Maybank. Different ERP software is available in the market. However, the selection of
the right ERP system and ERP vendor is based on the requirements of the Maybank. In
case if the analysis of the requirements for the May bank is not done in a proper way,
there is a possibility that the system may fail to serve its purpose.
 Selection of the methodology: the selection of the right SDLC methodology is needed to
be done. There is various SDLC methodologies which are less complex than the agile
methodology. However, the selection of those methodologies may not serve the right
purpose during the development phase (Babaei, Gholami & Altafi, 2015). So, it can be
said that the selection of the methodology is needed to be done based on the compatibility
of the methodology with the requirements of Maybank.
 Lack of training: The lack of training of the employees in the organization can become
problem for the organization (Altamony et al., 2016). The employees in the organization
are not familiar with the newly implemented ERP system (Rahimi et al., 2016). In this
case, managing the new system can be problematic for the employees. This can have the
direct impact of the functioning of the organization.
Project outcomes:
The outcome of the project includes the following-

9IMPLEMENTATION OF THE ERP SYSTEM AT MAYBANK
 May bank can manage the data and information more efficiently.
 The decision making and the strategic planning can be done accurately based on the
information provided by the ERP system.
 Smart analysis of the market condition can indicate Maybank about the future steps for
the organization in order to achieve the desired goal.
 The consumers of the bank can get advanced service as the bank will implement various
customer oriented facilities through this implementation.
 The security of the data and information stored in the system of the bank are confidential.
The implementation of the ERP system will help in enhancing the security of the data and
information.
Recommendations:
The recommendations those can be made for the proper development and the implementation
of the ERP system at Maybank are as follows:
 The selection of the ERP system is needed to be done on the basis of the requirements of
Maybank.
 The specification of the hardware and software is needed to be done at the starting of the
project.
 The employees in the organization are needed to be made familiar with the newly
implemented system.
 Following of the agile methodology during the implementation is needed to be done in
the proper way.

10IMPLEMENTATION OF THE ERP SYSTEM AT MAYBANK
 The flow of communication and the sharing of the knowledge in the development team
have to be done so that the problems can be resolved easily.
Conclusion
The discussion is regarding the implementation of the enterprise resource planning
system at Maybank. In the discussion the significance of the ERP system in the Maybank and its
usefulness has been discussed. The functioning of this bank is largely dependent on the manual
processing. However, the use of the technology is done in the organization at certain extent, but
they are not update versions of the trending technology. The business of the bank is expanding.
In this context, the management of the bank has decided to implement the emerging technology
to manage the entire functioning of the bank. This implementation can be done through the
enterprise resource planning at Maybank. From the discussion it can be said that digital
disruption at Maybank is needed as the bank is currently operating over different financial
sectors. However, some of the problems has been identified those can be a constraints for
Maybank. The mitigation of those problems can be done through the systematic approach. The
recommendations have been made through which the improvisation of the entire system can be
done.

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12IMPLEMENTATION OF THE ERP SYSTEM AT MAYBANK
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13IMPLEMENTATION OF THE ERP SYSTEM AT MAYBANK
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