Value of Effective IT Systems: A Report on Barclays Bank

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Value of Effective IT systems
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Contents
LO1 Demonstrate an understanding of the role of different IT systems in support of
organizational objectives.................................................................................................................5
P1 Analyse the use of IT systems within the different functions of the organization..........5
P2 Explain how IT systems contribute to the achievement of objectives in the context of
an organization...........................................................................................................................7
M1 Evaluate how IT systems are applied in the different functions of the organization
and how they work together to achieve high performance....................................................9
D2: Critically evaluate the role and purpose of IT systems in different functions of an
organization, evaluating their contribution in achieving organizational objectives..........10
LO2 Analyse flexible and reliable IT systems that respond to organizational requirements........11
P3 Analyse the different IT systems store and process data for knowledge and
management, customer relationship management, data management, and
communication management..................................................................................................11
M2 Critically analyze the different ways IT stores and process data, providing specific
organizational examples..........................................................................................................13
D2 Demonstrating an understanding of the different ways of IT system store and process
data and critically evaluate the choices that have been made in a specific organization. .14
LO3 Evaluate IT systems that support value-added change within the organization....................15
P4 Evaluate how IT systems can be used to support value-added changes for improving
business operations, performance and sustainability...........................................................15
M3 Critically evaluate the advantages and disadvantages of IT systems which support
value-added change in an organizational context.................................................................16
D3 Provide justified recommendations for improving IT systems in the support of value-
added changes in an organizational context..........................................................................17
LO 4 Recommend practical IT solutions to given organizational scenarios'................................18
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P5 Recommend the scenarios that cover a range of common business problems
experienced at workplace........................................................................................................18
M4 Evaluate how IT systems support practical solutions to add future value to specific
business problems....................................................................................................................19
D4 Critique recommended practical solutions for the effective monitoring and evaluation
of IT systems with potential consequences of their implementation...................................20
Conclusion.....................................................................................................................................21
References......................................................................................................................................22
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Introduction
With the evolution of technology at a rapid pace, every organization is adopting new technology
in its business functions in order to generate more profits in their business. Adoption of new
technology not only assess the company is expanding its business but also support the company
in solving their business issues. This report highlights the importance of the IT system in the
functions of the company Barclays Bank. Barclays Bank can adopt the new technology in its
working function by implementing IT systems in the organization. This will support the
company in mounting new and innovative digital technology in their system which will assess
the Company in enhancing their overall performance of the bank. This report shows the
significance of IT systems in handling the queries of the customer. This system will improve
customer relationship management in the bank. This report also highlights how Barclays bank
can implement the IT system in their working function in order to generate more profits and to
enhance the growth of the company. In the end, the various recommendation is discussed which
will assess the Barclays bank in enhancing the overall performance of the company
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LO1 Demonstrate an understanding of the role of different IT systems in support of
organizational objectives
P1 Analyse the use of IT systems within the different functions of the organization
IT system is becoming one of the necessities in the functions of the business. It not only
improves the overall function of the business but also enhances the growth of the company in the
nation. Barclays bank one of the bank which provides online services to their customers. This
bank has many branches all over the world. Barclays bank founded in the year 2015 in order to
provide online banking services to its customers. Main headquarter of the bank is located in
London, England. As the company deals with online services, it is essential for the company to
implement an IT system in their working functions. IT system not only improve the efficiency of
the bank but also provide security to their existing system which will ensure that all the financial
information of the bank and their customers will remain secure. With the rising of technology,
there is an increase in the number of cyber-attacks as well. Hence it is necessary for the bank to
implement an IT system in their working function. With the help of IT system, Barclay's bank
not only manages their operations of the company effectively but also can maintain the balancing
management of banking and provide security to their financial data and also provide efficiency in
their role of designing (Shiau, et. al., 2015).
There are several uses of IT systems in the functions of the business. These uses are mention
below:
Increase the functions of Enterprise Resource Planning
IT system can improve the function of the Enterprise Resource Planning within the association.
ERP is connected with the various functions of the organization such as handling the staff,
accounting, HR planning and assigning the task to the employees. IT system can enhance the
functions of the ERP which will support the leaders of the company is taking appropriate
decisions in their strategies of future growth which will improve the planning process of the
association.
Improve the functions of the data management
IT system will assess the company in improving the function of the data management of the
company. With the help of the IT system, the Company can develop appropriate data and also
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examine the various complications in the project of the business. Barclays bank can implement
new technologies in their business by implementing IT system in their function which will
support the company in examining and managing the data or the association. This data can also
get secure with the help of IT system which will ensure the company that their financial data will
remain secure throughout the process. Manager of the company can secure the data of their
customers with the help of IT systems (Anderson, et. al., 2015).
Improvement in the process of the company
The success of any organization depends on the process of their company. With the help of the
IT system, Barclay's bank can examine their ongoing process in the association. This will allow
the company to make changes to their ongoing process and can implement new techniques in
their process. This will improve the working of the company and allow the company to work
appropriately. IT system can identify the various mistakes in the existing process and improve
those mistakes in order to enhance the efficiency of the association.
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P2 Explain how IT systems contribute to the achievement of objectives in the context of an
organization.
IT system contains various software and application due to which it supports the organization in
improving its overall performance properly. IT system plays an imperative role in maintaining
the efficiency of the company and to improve the overall performance of the company in the
market. There are several assess of the company especially in the banking sector which are
competencies of the business, human assets and financial assets All these assets can manage
effectively with the help of IT systems. With the support of digital technology and digital
communication, the company will be able to improve its business environment in the market.
Barclays bank can implement IT systems in order to enhance the efficiency of their operations
with the support of various techniques and strategic approaches. With the support of these
strategic approaches, the company can complete its goals and objectives (Schwalbe, 2015). With
the support of several strategic objectives, the company can improve its business functions.
Some of the functions of the IT system are mention below:
Increase competitive impacts
Barclays bank can gain a competitive advantage in the market with the help of IT systems. IT
system can examine the various strategies of the competitors and also the company can be able to
identify the various techniques used by its competitors with the help of IT systems. This will,
allow the company to implement strategies in their working functions in order to gain a
competitive advantage in the market.
Excellence in the operations
With the help of IT systems, the company can enhance the overall productivity of the
organization. This will allow the company to develop its growth in the market. The company can
effectively manage the changes which take place in the business with the support of IT systems.
Barclays bank can also improve their business culture in order to develop the business
environment in the market with the assistance of IT systems (Percac-Lima, et. al., 2016).
Improvement in the decision-making system of the organization
With the help of IT systems, leaders of the company will be able to examine every data
effectively. This will allow the managers of the company to take effective decisions for the
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growth of the association. The company will also be able to generate more profits as new
strategies will be implemented in the process of the organization.
Improving services and business models
With the help of IT systems, Barclay's bank will be able to improve their various services and
also develop the business models. The company can implement various innovative strategies in
order to develop its business model with the support of IT systems. Barclays bank will be able to
implement new innovative techniques in order to provide new services to their clients and
employees. This will also improve the customer retention rate of the company.
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M1 Evaluate how IT systems are applied in the different functions of the organization and
how they work together to achieve high performance.
Barclays Bank can implement the IT systems in different functions of their company in order to
accomplish high performance in the business. With the help of IT systems, the Organization can
accomplish all its goals and objectives. Barclays bank can develop various planning in their
system which will allow the company to handle the staff effectively. Barclays bank can improve
the market growth of the company by implementing the application of IT system in their
business. The company can also possess various innovative strategies in their business which
will assess the company in enhancing the customer retention rate of the association and also
enhance the growth of the company in the market. Implementing IT system will help the
company in generating more profits in their business and also the company will be able to
maintain the sustainability of the business in the market that too for a long span of time. The
company can also improve its decision-making system by implementing the various applications
of the IT system in their business functions (Lee, et. al., 2015). IT system will assess the
managers of the company in accessing the proper information about the customers. This will
assess the organization in increasing the customer retention rate of the company.
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D2: Critically evaluate the role and purpose of IT systems in different functions of an
organization, evaluating their contribution in achieving organizational objectives
It has been examined that It system plays an important role in achieving the goals and objectives
of the organization. This can be done by appropriately accessing the data so that the leaders of
the company can examine different aspects of the functions of the company effectively. This
will also help the leaders of the company to take appropriate decisions in order to enhance the
growth of the company more in the market (Laudon, and Laudon, 2016). The main objective
behind implementing the IT system in the business function is to enhance the growth of the
company, increase the customer retention rate of the bank and to develop the market segments of
the association. Company's profits mostly depend on the number of customers they have.
Therefore, it is necessary for the association to provide effective services to their customers with
the help of IT systems in order to increase the customer retention rate.
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LO2 Analyse flexible and reliable IT systems that respond to organizational requirements
P3 Analyse the different IT systems store and process data for knowledge and
management, customer relationship management, data management, and communication
management.
With the assistance of IT systems, the company can not only improve the overall performance of
the association but also improve the engagement of all their stakeholders which will be beneficial
for the growth of the business in the international market. This will assess the pioneers of the
company in maintaining an effective working environment in the organization. The company can
improve all their departments effectively with the help of IT systems. There are different
manners through which IT systems can improve the efficiency and performance of the Barclays
bank. These are as follows:
 Developing customer relation management-
Barclays Bank can develop their customer relationship management by implementing IT
system in their business. The company will be able to examine the conditions of the
market due to which leaders of the company can examine the needs of the customers and
their requirements. This will assess the company in enhancing customer relationship
management within the organization. Barclays bank can examine the financial needs of
the customers and offer them various services in order to build more customers in the
organization. With the help of the IT system, the company can implement various effects
in order to build more customers in their organization. Providing effective and quality
services to the customers not only build more customers in the company but also improve
the customer retention rate of the organization (Farooq, et. al., 2015).
 Processing and storing new data
Barclays bank can improve its process of string data with the help of the IT system. It has
been examined that Implementation of the IT system in the company will help the
company in securing the data of the company. This system will ensure the company that
its customer's private data will remain secure throughout. There is always a big risk in
handling the private data of the customers due to which it is essential for the company to
implement IT system in their business so that the company will be able to secure their
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customer's confidential data from any kind of cyber-attack (Christiansen, et. al., 2014).
This system will also improve the process of data management in the organization.
 Management of communication
IT system asses the company in improving the communication of the employees. With
the support of IT systems, employees not only contribute more to the efficiency but also
communicate with each more in order to solve the queries of the customers. This will
improve the communication management of the company and employees will be able to
communicate with each other more effectively. Improvement in communication not only
enhance the performance of the employees but employees will be able to learn new skills
from each other. There will be better coordination between the employees which will
boost their confidence more and they will be able to work more efficiently.
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