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Strategic Management and Information Systems | Report

   

Added on  2020-04-01

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Strategic Management and Information Systems | Report_1
Running Head: ReportContentsIntroduction....................................................................................................................3Business process.............................................................................................................3Business requirements.....................................................................................................4Systems requirements......................................................................................................5Software and vendor selection..........................................................................................5Ways to utilize technology for business efficiency.............................................................6Efficiency from technology implementation......................................................................8Potential security risks.....................................................................................................8Mitigation strategies......................................................................................................11Conclusion....................................................................................................................12References....................................................................................................................13Bibliography.................................................................................................................152
Strategic Management and Information Systems | Report_2
Running Head: ReportIntroductionThis report is composed with the end goal of leading an examination on the Accounting Information System (AIS) and Enterprise Resource Planning (ERP) frameworks. The business report has been set up for a banking organization, in order to understand various business processes conducted by a bank, the necessities of the procedures of their business, the use of ERP framework in such an institute and the effect of execution of this framework on the productivity of the business forms [ CITATION Mat11 \l 1033 ]. On the completion of the examination of business and its procedures, this investigation plans to suggest an AIS/ERP framework for them, investigating the conceivable security dangers related with their application and the approaches to combat these dangers [ CITATION Ali16 \l 1033 ].Business processThe business procedure of any association can be comprehended with the assistance of the functions that they undertake. The functions performed by any bank can be majorly categorized into primary functions and secondary functions. The essential keeping money capacities are additionally ordered into two classes, these handling savings accounts, current accounts, recurring deposits and fixed deposits. The primary functions, also include the lending of grants and advances in the form of cash and credit, loans, overdraft and bills[ CITATION MIT12 \l 1033 ]. The non-banking elements of a financial banking institute canalso be put into two different categories, namely; agency functions and utility functions. The tasks in which the bank acts as an agent for its client and gets the work done for them and provides relevant services are known as the agency functions of the bank. The facilities given3
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Running Head: Reportby the banks as an agent include an exchange of money, gathering of cheques, periodic payments, portfolio administration, occasional accumulations and so forth. Aside from the office capacities, banks additionally go about as trustees, agents, consultants and overseers for their clients chipping away at the sake of their customers as the above establishments. They are the connection that the clients have and give them services that include dealing withdifferent banks and monetary organizations. The general utility capacities that the banks perform are issuing of drafts, letter of credits, locker office, guaranteeing of the offers, managing remote trade and cash trade, venture report, social welfare programs and so on[ CITATION GAk11 \l 1033 ].Business requirementsThe banks give administrations to the clients that empower them to pull back and store money, make request and make payments helpfully. The framework of the banking organization should be refreshed in order to provide updated opportunities to the clients and the partners and provide them with the latest figures and facts. The data given should additionally be precise and accessible consistently. The approach of data innovation in the managing a banking business framework has made it more portable, client well disposed and enhanced the nature of the administration being given to them. This has been made conceivable by the presentation of Accounting Information System, otherwise called digital banking. The presentation of innovation has additionally made it workable for the banks to scatter convenient and precise data identified with the treasury administration and data frameworks [ CITATION AMw13 \l 1033 ]. The revolution of innovation has expanded the aggressiveness of these banking and financial organizations and changed the way they build up their items and administrations. The globalization of the considerable number of business 4
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