ANZ Banking Group Strategic Information System: Requirements & Risks

This report provides a comprehensive analysis of the Strategic Information System employed by the Australia and New Zealand Banking Group (ANZ). It begins by defining the bank's core business processes, including liquidity management, transaction management, and static data maintenance, emphasizing the need for an Enterprise Resource Planning (ERP) system like Oracle to manage their complexity. The report then details the key business requirements of ANZ, such as effective cash management, finance, customer relationship management, and human resources, highlighting how ERP implementation can support these needs. Furthermore, it explores the system requirements for Oracle ERP, emphasizing its role in enhancing efficiency, security, and data management. The report also discusses the criteria for software and vendor selection, including assessing vendor credentials, considering customer opinions, and evaluating scalability and costs. It identifies three ways ANZ utilizes technology to improve business efficiency: strategy forecasting and flexibility, management integration, and big data analytics with cloud computing. An evaluation of the technology implementation's efficiency and a subsequent examination of potential security risks and data breaches are presented, followed by guidelines on risk mitigation. The report concludes by underscoring the importance of a well-implemented strategic information system for ANZ's overall competence and effectiveness.

Strategic Information system
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Table of Contents
Introduction:....................................................................................................................................3
1. Define business processes........................................................................................................4
2. Develop business requirements...............................................................................................5
3. Determine the systems requirements.......................................................................................6
4. Software and vendor selection.................................................................................................8
5. Determine at least three ways which companies or organization utilize such technologies to
improve business efficiency..........................................................................................................10
6. Evaluate the level of efficiency of the technology implementation..........................................12
7. Examine Potential security risk and data breaches....................................................................14
8. Provide guidelines on how these risks could be mitigated........................................................16
Conclusion:....................................................................................................................................18
References:....................................................................................................................................19
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Introduction:
This report introduces to the conception of Strategic Information system. Australia and New
Zealand Banking Group is an Australian bank which is managing its business globally. the
organziation is investing a good amount in technology and IT solutions to foster the modern
business needs. This report shows the business process and business requirements of ANZ
banking group. Further, this report shows the systems requirements and vendor selection for the
bank. This report highlights the three ways which are implemented by Australia and New
Zealand Banking Group to improve the overall competence and effectiveness of the banking
business. The report also reveals the system prerequisite for the implementation of the enterprise
resource planning software and the adoption of the enterprise resource planning will support in
taking better investment decision .finally this report shows the risk faced by the ANZ bank and
guidelines for managing or mitigating those risk.
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1. Define business processes
Australia and New Zealand Banking Group which is commonly known as ANZ, is the 3rd
largest bank by the market capitalization in Australia, after the Westpac Banking Corporation
and Commonwealth Bank. the banking procedure conducted by ANZ are complex and consist of
liquidity management process (transfer, cross management of cash or liquidity and settlement),
distribution and the transaction management.in addition to this, the other processes which are
performed by ANZ bank consist of external and internal CSD settlement, the asset service
process and supporting settlement procedure like the cancellations, reservation, underwriting,
etc. the prime procedure which is undertaken by the ANZ bank is static data maintenance
process. Due to the complexity of the processes, there is a need for the ANZ bank to install the
enterprise resource planning software in the banking operations. The bank performs functions
function of underwriting, call center support, credit loans or consumer support, interface for
consumer data custody services, recoveries processing,, management of technology platforms,
regulatory and program compliance, portfolio analytics, collections, default management, , fraud
mitigation and detection reporting, conversions, custom development, risk management
and foreclosure (Dumas, et. al., 2013).
The ANZ corporate functions are the fields of business that service the organization globally. the
company is engaged in didgital banking which leads the strategic development and delivery of
excellent experience for the bank's staff and consumers. The bank is performing all the basic
consumer acquisition process which consists of underwriting, credit approval, document
processing, on-boarding, account opening, customer care and the merchant or customer credit
verification and evaluation. ANZ bank recognized the needs of information technology solutions
and infrastructure for maintaining the security of the clients. There is need to install the
enterprise resource planning software as they will help in taking improved investment decisions
and will maintain the operations of the company in an effective and efficient manner (Chang,
2016).
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2. Develop business requirements
The prime needs of the ANZ bank consist of effective cash management procedure, finance,
consumer relationship management and human resources. All the business requirements can be
maintained properly by implementing enterprise resource planning software. Below specified is
the core business requirement of the ANZ banking group:
 One of the key business requirements of ANZ banking group is the finance. Money is required
for maintaining all the business processes which are carried out by the ANZ bank. All the
software’s and human resources can be hired or installed by the bank only if there is adequate
finance available with the company
 The Australia and New Zealand Banking Group is required to install Strategy implementation
strategies which comprise of numerous other measures like an endorsement and an
implementation judgment, training and support or nay another method for maintaining the risk
and control. ANZ banking Group is required to develop strategies so that it can survive in the
competitive business environment
 Maintaining good relations with the consumers is another prime requirement of the ANZ
banking group. The bank works for the needs of the consumers so it is required to maintain the
information of the clients safe and secure. Keeping a close contact with clients helps in the
bulidng strong reputation of the bank in the market.
 For the effective and efficient functioning of the Anza banking group, technical resources are
required. The proper management of cash receivables and inventory can be done by
implementing Oracle- enterprise resource planning software. For launching Oracle software the
bank needs to hire efficient resources that have some expertise in running and using these
softwares. Hence technical requirements are the key business requirements of Australia and New
Zealand Banking Group (Frias, 2014).
It is important for the Australia and New Zealand Banking Group to recognize its business
requirements so that it can serve to the needs of its clients in an effective and efficient manner.
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3. Determine the systems requirements
The need for implementation of Oracle ERP is essential for Australia and New Zealand Banking
Group. With the launch of this software, the organization will get numerous benefit s. the bank
can expand its consumer bases and can diversify its portfolio. Oracle-ERP reduces the work of
the internal staff. The Oracle – ERP solution should align with the objectives and goals of the
ANZ banking group. Oracle ERP is the single hand solutions for all the business problems which
are faced by the ANZ banking Group. The system is obligatory to upsurge the overall efficiency
of the banking business.it must be noted that the ERP solutions help in maintaining a good
relationship with the creditors, management and general consumers of the organizations. Due to
the application of the enterprise resource planning software mostly the Oracle, the entire business
operations which are performed by the bank are now more systematized and under control
Figure: Implementation of Oracle
Source: (Raju, et. al., 2014).
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In the contemporary world, the demand for IT solutions is rising due to the number of hackers
and unauthorized access. Oracle ERP helps in marinating the safety and security of the client’s
information. The banking procedures which are conducted by the bank will become more easy
and effective. In the past years, the bank suffered heavy losses due to its inability to survive in
the competitive world. The organisation was not able to manage the data of its clei8nts and was
constantly facing the issue of cyber-attacks and crimes. Hence, implantation of oracle ERP
solution can be adopted by the ANZ banking group for regulating its business processes and
functions in an effective and efficient manner. moreover, for the accurate im0plemnattion of the
Oracle-ERP software the ANZ banking group is required to be flexible (Raju, et. al., 2014).
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4. Software and vendor selection
It is important for the ANZ banking group to select appropriate software and vendor so that
business operations can be managed successfully. The software and the vendor selection by
Australia and New Zealand Banking Group are done on the basis of the following criteria:
Figuring out what the bank really needs:
One of the most significant things to do is to collect accurate, systematic necessities for what's
required in software, The Oracle – ERP solution should align with the objectives and goals of the
ANZ banking group and should meet the requirements of the investors. As a result, it is critical
to regulating the business necessities before cross-examining the software vendors.
Examining the software provider's certificates and credentials:
When assessing the technology partners and software vendors look into their background. It is
also significant to look for strong credibility and capabilities
Consider the opinions of other consumers
Ask the vendors for mentions in the banking industry. When emailing or speaking with
consumers, be definite to ask: Exactly how long have they been a customer? How has this
supplier addressed their precise requirements as a bank doing business in their precise industry?
Is the consumer service team knowledgeable and responsive?
Can it scale?
CIOs of the ANZ banks must enquire about and comprehend the level of scalability and
customization software solution offers, The last thing technology decision-makers and CIOs
want to be confronted with is the requirement to invest and re-evaluate in a new solution three or
two years down the road, when the prevailing system cannot handle the business's developing
needs.
Check for additional fees or hidden cost:
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Look for additional fees in the contract, like the hidden cost for in-person training, annual or
setup maintenance fees, document management services in addition to the once-a-month support
costs. The bank is required to watch for the provisions which permits the vendor to upsurge fees
throughout the course of a contract and perceive if there are necessities which would permit the
ANZ bank to get out of a contract after a year or six months if the oracle-ERP system is not
working in a proper manner (Lasisi, et. al., 2017).
Take a test drive.
Before pledging to a different software solution, be assured to frisson the tires. Then, throughout
the trial, be assured that the software comprises the features and functionality which are required
by the ANZ banking and don't be frightened to enquire the vendor regarding any issues or
complexities. While selecting the software to be sure that it perfectly fits in the ANZ bank for a
long period of time.
Agree to the KPIs (key performance indicators) before signing an agreement
The ANZ bank should work with the potential software suppliers to generate KPIs (key
performance indicators) prior to authorizing any agreements," "By placing KPIs in place upfront,
both the vendor and purchaser will exactly know what requires to become apparent to make the
software application a success.
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5. Determine at least three ways which companies or organization utilize such technologies
to improve business efficiency
Nowadays, technology is extensively utilized in the banking sector. Australia and New Zealand
Banking Group adopted innovative and strategic ways to utilize the technology in a way that the
entire efficiency and the effectiveness of the business of Australia and New Zealand Banking
Group increased. Due to the application of the enterprise resource planning software mostly the
Oracle, the entire business operations which are performed by the bank are now more
systematized and under control. There are three ways which are implemented by Australia and
New Zealand Banking Group to improve the overall competence and effectiveness of the
banking business and they are stated underneath:
Strategy forecasting and flexibility:
In the competitive world, it is important for the Australia and New Zealand Banking Group to
frame strategies and keeps forecasting them. For the accurate im0plemnattion of the Oracle-ERP
software, the ANZ banking group is required to be flexible. Flexibility assists in the smooth
implementation of ERP software in the bank.
Management integration:
Australia and New Zealand Banking Group integrated its business operations with the
technology solutions so that the operations of the company can be performed in a more
organized manner. The bank adopted this way to use the ERP- Oracle in the business processes
which are carried out by the bank (Monk and Wagner, 2012).
Big data analytics and cloud computing:
Big data analytics is the procedure of examining varied and large information sets -- i.e., big data
to expose concealed configurations, unknown relationships, marketplace tendencies, consumer
predilections and other useful information which can aid organization to make more-informed
business verdicts. Determined by specific analytics software and system, big data analytics can
point the approach to numerous business welfares, together with new revenue chances, more
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operative promotion, better consumer service, enhanced operational competence and competitive
benefits over competitors.
Figure: Cloud computing
Source: (Yamato, 2015).
Cloud computing is the on-demand distribution of computing power, applications, database
storage and other Information Technology resources through a cloud services platform through
the internet with pay-as-you-go pricing. Cloud computing provides a modest means to entrée
servers, databases and a broad set of application services over the Internet. Cloud services
platforms like Amazon Web Services maintains and owns the network-connected hardware
which is prerequisite for these application services, while the use and provisions what need
through a web application (Yamato, 2015).
All the above three stated ways are equally important methods which must be adopted by the
Australia and New Zealand Banking Group to implement ERP- Oracle. Adopting such
technologies will improve the efficiency and effectiveness of the business which is managed and
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controlled by the Australia and New Zealand Banking Group in numerous parts of Australia and
New Zealand.
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