Strategic Information system : Assignment
Added on 2021-06-16
19 Pages4340 Words29 Views
Running Head: Strategic Information system 1The importance of ERP System in Banking industry- Commonwealth Bank
Strategic Information system 2ContentsIntroduction......................................................................................................................................3Business process..............................................................................................................................4Requirements of business................................................................................................................5Requirements of System..................................................................................................................6Software and vendor selection.........................................................................................................8Ways in which bank use ERP software.........................................................................................10Level of competence of the technology execution........................................................................12Potential security risks, data breaches...........................................................................................12Mitigation of risks..........................................................................................................................13Conclusion.....................................................................................................................................14References......................................................................................................................................15
Strategic Information system 3Introduction Strategic information system is helped to develop in response to corporate business initiative. They are planned to provide competitive benefits to the organization. There is a salient feature inthe strategic information system in the world of information technology. Enterprise resource planning is the system that facilitates business to attain the efficiency in their business process. Itis an effective approach that assists an organization to automate their systems in a way that they can attain benefits in the competitive environment. It is hard for an organization to support their number of activities through utilizing an ordinary business process. It is considered as the helping system to the bank industries in developing the activities in a sufficient manner in the targeted market. Moreover, the business process of the bank industry is defined below in this report and the needs of the business to adopt the software will be defined below. Along with that it also defined that selection of the vendor and software for the Banks and the process that elaborates that the banks have implemented successfully in their process to amplify the productivity of the banks. Furthermore, the report defines the various level of productivity of the implementation of the technology in which potential risks are linked with several activities of the banking industry utilizing the software and the moderate to solve these risks. It is necessary for the banking industry to execute the ERP/AIS software in the operations of the business to maintain the sustainability of the same industry in the target market. There are number of details regarding software are discussed below.
Strategic Information system 4Business processThe business process of every industry is different from others but the aim of every industry is same to represent them in the target group. The Commonwealth Bank of Australia is multinational bank. This bank is provided number of services to the customers by entailing fundsmanagement, investment, insurance, superannuation and institutional banking with the help of strategic information system. CBA has 52,000 employees all over Australia for which it has adopted hierarchal organization structure. It shall be noted that this bank has repudiated position in the banking industry that facilitates in developing the sales continuously. It is essential for the bank to have the effective process of business to attract number of customers and make them satisfied through the services. The business process of bank is mentioned below which will be facilitated to understand the concept of the bank to attract the number of customers.
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