Strategic Information System for National Australia Bank

Running head: Strategic information system
Strategic information system

Strategic information system
Table of Contents
Introduction.................................................................................................................................................3
Business process..........................................................................................................................................3
Requirements of business...........................................................................................................................5
Requirements of System.............................................................................................................................6
Software and vendor selection....................................................................................................................7
Ways in which bank use ERP software.........................................................................................................8
Level of competence of the technology execution....................................................................................10
Potential security risks, data breaches......................................................................................................11
Guidelines to mitigate the risk...................................................................................................................12
Conclusion.................................................................................................................................................13
References.................................................................................................................................................15
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Strategic information system
Introduction
The report talks about how Enterprise Resource Planning helps in processing the business and
managing the requirements of the business and the system. It includes suggestions to avoid the
risks and threats that are generally raised in business. The report talks about how banks functions
and operates as a business. It is a long assignment covering eight topics that focus how banks
manage to run their business and what risks it has to face. It gives knowledge on how the
requirements of business should be fulfilled so that banks can stand in the expectations of its
customers.
National Australia Bank has been taken in the task. It is situated in Australia and is considered
one of the largest financial institutions serving thousands of its customers since it establishment.
The bank was founded in 1982. The report shows how NAB has managed to flourish in all these
years and how effectively it has been working since ages. It is one of the largest banks of
Australia and is known to be the most efficient one. The report presents the picture of National
Australia Bank and how ERP system software works for the betterment of business.
Business process
The business process of any company has to be effective. It helps in the functioning of business.
The process involves proper accounting, maintaining finance, customer service and support and
number of services. ERP is one of the important and effective systems of functioning used in any
business (Jörgens, 2013). The banks of Australia use Enterprise Resource Planning in order to
process business. Every industry functions differently. Like the National Australia Bank (NAB)
uses ERP approach to process the business. The services provided by the bank are vast in
number as it provides services like customer support, withdrawal/ deposit center, enquiry and
passbook section, etc. the effective resource planning of the bank helps it to attract number of
customers. This increases their value by serving large number of society. For example, the
process takes place when customers open their account in the bank and follow all the regular
activities like depositing, withdrawing and transferring in monetary terms. The bank is
responsible for satisfying its customers to the maximum by providing support and solutions to
their problems. If the customers are satisfied the bank is able to open many accounts in order to
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Strategic information system
serve its customers. This way bank manages to attract number of customers to its branch and
raises its value in the country. The business process handles all the responsibilities so firmly that
it manages that its customers does not face any problem or issues. They handle the important
monetary transactions using various developed software which reduces the chances of risk or
errors (Blundell-Wignall, Atkinson and Roulet, 2014). This business process gives good results
to the bank. The process of business also involves targeting the required goal working in the
team. The members of the National Australia Bank work in group which helps the bank to
perform their responsibilities in lesser time and giving more output. More than one member is
assigned on the same position. This enables them to serve many customers at the same time and
helps them in solving their issues related to bank services in an appropriate manner. The business
process therefore seizes the wrong practices by providing all the facilities to its customers
(Cavusgil et al, 2014).
(Source: https://www.tuicool.com/articles/VfUZbu)
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