Implementation of ERP System in Commonwealth Bank

Running head: Strategic information system
Strategic information system

Strategic information system
Table of Contents
Introduction.................................................................................................................................................3
Business process..........................................................................................................................................3
Requirements of the business......................................................................................................................5
Determine system requirements..................................................................................................................6
Vendor and software selection.....................................................................................................................7
Ways in which Commonwealth group utilize the technologies to improve and enhance the activity........10
Level of efficiency of the technology implementation..............................................................................12
Potential security, risks and data breaches.................................................................................................12
Guidelines to mitigate the risks.................................................................................................................13
Conclusion.................................................................................................................................................13
References.................................................................................................................................................14
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Strategic information system
Introduction
The primary aim of this task is to provide brief information about the implementation of ERP
system in the organization. ERP system is essential to enhance and increase the outputs of the
firm. This system is implemented by many companies to conduct the business operations in a
hassle free manner. Commonwealth bank has been taken in the task to outline the significance of
the ERP system within the organization. No company can survive its business without using ERP
system at the workplace. Furthermore, the paper explains the business process and business
requirements and along with this, here is the discussion about the vendor and process selection.
This report also explains that how ERP system provides ample of benefits to the customers as
well as organization. It also discusses that how Commonwealth bank reduces the risks and
challenges that are associated with ERP system. It has been found that ERP/AIS software is
essential for each and every industry to flourish its operations widely. There are ample of
information regarding the ERP system has been detailed below.
Business process
It has been noted that business process of each and every industry is quite different from others
however the objectives and goals of the industries are eventually same to explore and flourish the
business successfully (Ptak and Schragenheim, 2016). Common wealth bank of Australia is an
Australian multinational bank with businesses across New Zealand, Asia, United Kingdom and
United states. It renders wide range of financial services including institutional banking,
business, retail, funds management, investment, insurance, superannuation and broking services.
It is the biggest listed company in the Australia. The bank was established in 22nd December
1911 having headquartered is situated in Darling Harbour, Sydney Australia. There are approx
51,800 employees working in the organization. It has been studied that the company follows
hierarchal organization structure. It is a well known company in the Australia. It has been able to
make a dynamic position in the global market (Chavan, 2013).
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Strategic information system
(Source: https://technet.microsoft.com/en-us/library/hh209332.aspx)
(Source: https://www.researchgate.net/figure/Current-online-business-process-
flow_fig1_224171620)
After the various researchers, it has been analyzed that business process of banking industry is
wider to expand and explore the business activities and operations in a hassle free manner.
Business process is a collection of linked tasks and duties which find their end in the delivery of
a service or product to a client. In other words, a business process may be defined as a set of
tasks and activities that help to attain the long term goals and objectives. The business processes
manages and controls the each and every activity related to the finance. It helps in protecting the
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