Enterprise Architecture Analysis for FinCorp: Software and Compliance

This report provides an in-depth analysis of FinCorp's enterprise architecture, focusing on its implementation of a specialized software tool. It examines the concepts of data and information architecture, emphasizing their importance for FinCorp's operations and transparency. The report explores how the new software supports continuity plans and facilitates informed decision-making through audit and compliance standards. It also discusses the software's contribution to achieving the original objectives of the enterprise architecture initiatives, specifically in improving IT alignment. The report acknowledges both the benefits, such as improved productivity, data maintenance, and better decision-making, and the drawbacks, like the high cost of the tool. The study provides a comprehensive overview of the software's impact on FinCorp's business processes, IT alignment, and overall strategic goals, offering insights into its effectiveness and limitations.

Enterprise Architecture
1

Table of Contents
INTRODUCTION 3
MAIN BODY 3
Concept of data and informations architecture along with importance of newly implemented
EA for FinCorp 3
How new installed specialised software tool for enterprise architecture can support continuity
plans. 4
Roles of audit and compliance standards in EA along with discussing that how newly
implemented software tool facilitate informed decision making 5
Discussing as how newly implemented software tool can contribute to achieving original
objectives of the EA initiatives to improve IT alignment 7
CONCLUSION 8
REFERENCES 9
2

INTRODUCTION
Business process is a set of some activities which are being undertaken by companies to
accomplish their goals (Harmon, 2019). This present study is based on FinCorp which is a mid
size financial company who is suffering from many problems and one of the main problems is
non-transparency and poor business IT alignment. This study is going to show importance of
making use of software tools of enterprise architecture which can allow this company to improve
decision making process and making an effective alignment in its goals and IT objectives. Lastly,
it will show importance of using audit and compliance standards in enterprise architecture.
MAIN BODY
Concept of data and informations architecture along with importance of newly implemented EA
for FinCorp
Before discussing about concept of information architecture it is important to know that
what enterprise architecture is. In this context, it can be said that it is a procedure by which
companies of different sectors and especially of financial sector organize as well as standardize
their IT infrastructure by aligning their goals. this process allows companies to make IT growth,
transforming processes into digital and modernize their IT processes in order to being the market
leader and keeping transparency (Marjani and et.al., 2017). In the context of data and
information architecture it can be said that it is a process of collecting, storing and movement of
all important informations across in a company. It allows company to sort important and usable
data among all collected and stored informations and making use of them in taking effective
decision related business processes. With effective information architecture, FinCorp financial
company can provide a structured description of their business to their stakeholders which can
help them out in making an effective relation between company’s structured informations to
business processes and requirements. So, it can be said that data architecture plays an important
role in accomplishing goals by managing all processes in an effective manner.
In the context of newly implemented enterprise architecture by FinCorp, it can be said
that it can help it out in accomplishing its goal and managing all processes in an effective
manner. FinCorp is suffering from many problems related to its financial business informations
3

and processes and maintaining transparency. For this purpose it made a decision of implementing
an effective enterprise architecture tool and for that it analysed all tools and made decision of
selecting the best one by taking suggestions of all people. So, it decided to implement Powerful
and expensive tool of Enterprise architecture or EA repository. This selected EA repository is a
collection of artefacts which can allow it to make its stakeholders aware about its current as well
as target IT landscape. With the help of this tool, FinCorp can create a huge volume of
architectural output. This selected tool by FinCorp company has ability to hold all those
informations which concerned with the EA and associated artefacts. It also helps them out in
analysing requirement of repository storing. By storing informations and making use of this tool,
FinCorp can manage all important and relevant informations to architecture requirement. But on
the flip side, it is also stated that the selected tool by FinCorp is expensive and powerful which
can increase implementation and overall operational cost (Hui, Kwok and Ip, 2016). Overall, it
can be said that selected tool for EA by this company is effective and can allow it to accomplish
its goals.
How new installed specialised software tool for enterprise architecture can support continuity
plans.
It is stated that FinCorp financial company selected an effective software tool for
enterprise architecture in order to accomplish goals and improving transparency of all its
informations. The newly installed software tool or Central repository for storing architectural
informations can help this company in storing all informations and data at one place. It is one of
the effective and powerful centralized model of EA which is being used by companies to work
on codes at the time of connected to the server itself. One of the main effectiveness of this
selected model by FinCorp is it has an ability to maintain a single source of truth which leads
accuracy and reliability of informations to its stakeholders (Hailemariam and et.al., 2019).
Data repository is a large database infrastructure which allows company to collect,
manage, store, analyse, share and reporting all important data of their business with relevant
people in order to make better decision regarding business growth and processes. There are
4

several benefits of central repository and data repository tool which is being selected and
implemented by FinCorp Company include:
Improving productivity: One of the main benefits of centralised repository is it can
allow this company to increase productivity by managing all processes and maintaining
transparency of informations. When company manage its business processes in an effective
manner and keep all informations safe and secure then customers feel valued and they are more
likely to retain with the company for the long run. So, it can be said that selected tool by this
company has effectiveness.
Data maintenance: It is one of the main benefit of centralized repository or selected tool
by FinCorp company. It was one of the main reasons of this company to think about
implementing software tools for EA is maintaining data. Data integration via central repository
allows all users to make updates and keep themselves updated to all informations with any
change. By keeping themselves updates, each department of this financial company can adhere
to cross company workflows, saving time as well as improving productivity.
Informed employees: It is stated that with the help of this tool company can store
important informations and engage with its employees. Engaged employees have all
informations related to company as well as functions which they have to perform. It reduces
errors in processes and functions performed by them. So, it can be said that this tool help
company in reducing errors, maintaining quality by informing employees and engaging them.
Better decision: One of the other main benefits of selected tool or centralized repository
is it allows company to make better decision as all employees are well informed engaged. So,
they help company in making better decision by analysing all stored informations in a detailed
manner (Dong and Keshavjee, 2016).
So, from the above discussed benefits of EA tool which is being selected by the company
it can be said that it can support its continuity plans of documentation and visualizing
informations.
Roles of audit and compliance standards in EA along with discussing that how newly
implemented software tool facilitate informed decision making
Audit in enterprise architecture plays an important role as it allows stakeholders in
analysing that whether their company in well defined and functioning all architecture principles
as well as processes in place or not. One of the main reasons of analysing this is to help company
5

in telling them to make changes in strategies which can help them out to meet needs of
customers and organization. There are several benefits and reasons of using audit in enterprise
architecture include:
 There is an adequate and effective governance structure in place which can help company
in making transparent planning which is one of the main goals of this company as it is
stated that non-transparency is the main problems from which it is suffering. So, it can be
said that audit in EA can allow it to improve transparency and decision making process.
 As like effective government structure there are effective enterprise architecture
development and implementation processes in place which can help this company in
making alliances and alignment between itself and government of Australia.
 There is an effective oversight of enterprise architecture via performance measurement as
well as an effective monitoring which can help it out to make sure and getting effective
outcomes and realizing all key benefits (Duncan and Whittington, 2016).
For an effective audit engagement this company can make an effective use of risk based
approach which can allow it to establish its objectives, approach and scope for this.
In addition, it can also be said that compliances standards in enterprise architecture plays
an important role as it is an essential aspect of architecture governance. As per the compliance
standards, company needs to prepare a series of project impact assessments which allow
government and all stakeholders in analysing as how its architecture impact on major projects
within this business. On the other hand, an important aspect of this compliance standard, It
governance functions can help company in defining formal architecture compliance review
process for reviewing compliances of projects.
So, from the above discussed roles if audit and compliance standards, it can be said that it
plays an important role and it can help FinCorp company in accomplishing its goals and
improving decision making process. Selected software tool or centralized repository can
minimize potential for risks, ensure compliances, allows ease of access to stakeholders only to
their informations and maintaining privacy from outsiders. Selected too for enterprise
architecture can also allow stakeholders to integrate with automated organization risk
management (Hassan and Mollah, 2018).
6

Discussing as how newly implemented software tool can contribute to achieving original
objectives of the EA initiatives to improve IT alignment
A centralized repository has an ability of Modelling visualization and analytical
capabilities. It is an effective tool which allows company to collect important data from all stored
data and from existing databases merged into one. One of the main aims and reasons of using
this tool in Enterprise architecture is to share all important informations in a central location and
allow all those data to be easily analysed, organized as well as secured. These functions can
make this company able to align its IT goals and making transparency. The project browser
allows company to structure their goals by telling them effective’s ways. With the help of
powerful and expensive software tool of enterprise architecture FinCorp company can view its
preventative goals, inform employees and stakeholders about all important informations along
with changes if happened in it. This newly implemented software has an ability to store all
important informations related to business processes by which employees find easier to analyse
them in deep manner and making use of them in completing given tasks related to IT. This also
allows them o reduce errors in processes which increase productivity and it is one of the main
aims of IT (Chang, 2016).
On the flip side, it is stated that selected software tool by the company is expensive which
is increasing cost of the company and reduce profit margin. In addition, it is also stated by some
members of this company that there is no need for FinCorp Company to implement this tool as it
is a waste of money because as per them it is a sophisticated repository of current state
informations. It is also stated that this expensive software tool has a capacity to access only 4-5
people of the whole company or architects which can affect decision making process. For
making an effective decision it is important for company to involve all members rather accessing
only 4-5 people. So, they said that they believe that this selected expensive tool cannot allow
their company to achieve original goals which is to improve business and IT alignment.
So, from this discussion and identified benefits of selected tool it can be said that it can
help this company partially in accomplishing goals but it may not help it out in making an
effective IT alignment because it is costly and have capacity to give access to only 4-5 people
(Akoum and Blum, 2019).
7

CONCLUSION
From the above discussed study it has been concluded that software tools of enterprise
architecture plays an important role as it allows companies to align their business objectives with
IT goals and maintaining transparency of all informations. Non-transparency is one of the main
problem which financial and IT companies often face and it creates other main problems for
them which need to be solved in a timely manner. This study has also discussed all benefits of
centralized and data repository which allows company to make an effective decision, inform all
stakeholders about all informations with current changes which also help them out in making
best financial decisions.
8

REFERENCES
Books and journal
Akoum, M. and Blum, V., 2019. Enterprise Architecture: A pillar in an integrated framework to
measure the Internal Control Effectiveness in the Oil & Gas Sector. In ICT for a Better
Life and a Better World (pp. 347-363). Springer, Cham.
Chang, J.F., 2016. Business process management systems: strategy and implementation. CRC
Press.
Dong, L. and Keshavjee, K., 2016. Why is information governance important for electronic
healthcare systems? A Canadian experience. Journal of Advances in Humanities and
Social Sciences. 2(5). pp.250-260.
Duncan, R.A.K. and Whittington, M., 2016. Enhancing cloud security and privacy: the cloud
audit problem. Cloud Computing 2016.
Hailemariam, A. and et.al., 2019, February. MPLEMENTING DATA TO ACTION
STRATEGIES: EPHI’S EXPERIENCE IN CREATING NATIONAL HEALTH
RESEARCH DATA REPOSITORY AND INTEGRATION SYSTEMS. In 30th EPHA
Annual Conference.
Harmon, P., 2019. Business process change: a business process management guide for managers
and process professionals. Morgan Kaufmann..
Hassan, A. and Mollah, S., 2018. Rich Architecture: Briefing on Shari’ah-Compliant Corporate
Governance. In Islamic Finance (pp. 295-299). Palgrave Macmillan, Cham.
Hui, Y.K., Kwok, L.F. and Ip, H.H., 2016, July. Developing a Central Repository for Capturing
Extracurricular Activities and Achievements Associated with Learning Outcomes.
In 2016 International Symposium on Educational Technology (ISET) (pp. 25-29). IEEE.
Marjani, M. and et.al., 2017. Big IoT data analytics: architecture, opportunities, and open
research challenges. IEEE Access. 5. pp.5247-5261.
9