Impact of ERP on Banking Operations
Added on 2020-03-28
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Strategic Information System[DATE][COMPANY NAME][Company address]
Running Head: ReportContentsIntroduction...........................................................................................................................................2Part 1.................................................................................................................................................3Organizational structure........................................................................................................................3Operational Problems............................................................................................................................3System Acquisition method...................................................................................................................4Sales Process Followed by the Commonwealth Bank Of Australia.......................................................5Control issues and risks.........................................................................................................................6Part 2.................................................................................................................................................7Development and Adoption of Accounting Information System...........................................................7Market Size...........................................................................................................................................7Competitive advantage of market leaders..............................................................................................8Current Gaps and Challenges................................................................................................................9Conclusion.............................................................................................................................................9References...........................................................................................................................................101
Running Head: ReportIntroductionThis business report is based on the literature review, which explains the use of accounting softwares in the various banks of Australia. This study is formulated to identify and understand the Accounting Information System (AIS) used by the Commonwealth Bank of Australia. Its implementation and challenges faced by the organization will be clearly determined in this business report. The organizational structure along with the operational issues in the present organizational structure of the Commonwealth will also be stated. The complete information of the technological systems will be highlighted in the study. The first part of the report covers the above stated parameters [ CITATION Ami13 \l 1033 ]. The second part of the report states the development of the AIS system and the market size of the organization. Also, a brief discussion regarding the leaders in the prevailing market will also be discussed. The competitive advantages of the organization as well as the gaps that have been left unfulfilled are also deeply examined and appropriate recommendations are given in order to fill the gaps by the CBA. 2
Running Head: ReportPart 1Organizational structureThe Commonwealth Bank of Australia is the top leading banks of Australia. It is the multinational bank with operates in various countries like New Zealand, United States, United Kingdom and Australia. This bank is considered as the largest bank to be listed on the Australian Securities Exchange. This bank aims at providing various financial services to its customers [ CITATION Com174 \l 1033 ]. Commonwealth Bank of Australia is also known as CBA. This bank deals in retail banking, investment, broking services, superannuation, institutional banking, insurance, fund management and business. The CBA was founded in 1911 and is considered among the top four banks of Australia. This bank was opened in Melbourne, but then the bank shifted its headquarters to Sydney, Australia. Also, this bank has a strong and remarkable history. The vision of this bank is to enhance the financial well being of the customers by also securing them. The total number of branches of this bank around the globe is more than 1100. Around 50,000 people are employed in the CBA. The organizational culture of the bank is to maintain Accountability, Integrity, Excellence and Service in their organization. The bank strongly aims at providing the best customer services according to the needs of the customers. The bank adopts various innovations and technologies in order to sustain and remain its position as the leading bank of Australia[ CITATION ACS11 \l 1033 ]. Operational Problems With globalization, various innovations have been introduced in the technology platforms, which create problems for the organizations. In the current scenario, almost every 3
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