Discuss about the ERP System In Bank of Queensland.
Strategic information systems or SIS are nothing but information system which have been developed for providing response to large number of business initiative (Zeng and Skibniewski, 2013). There are large number of business initiatives which are considered to be specific for business and organization. All of these are mainly required for satisfying the requirements of the organization. It ultimately focuses on reaching various kinds of goals and objectives of any firm. This is mainly required for fulfilling the competitive edge for an organization which makes their business popular and specific to large number of people. Strategic information system helps various kinds of business to become much more innovative by providing innovation to large number of operation of business (Van Der Aalst et al., 2016). Strategic information system can be easily defined as most important kind of feature in domain of information technology. Various kinds of processes like categorizing, processing and transfer of information can be easily done with the help of this strategic information system. ERP (Enterprise Resource planning) can be easily defined as a most effective way or method of integration of various business processes of specific firm. So, it can be easily defined as integrated management of various kinds of business processes which is regulated by the help of software.
In the coming of the report an idea has been provided regarding Bank of Queensland which is a well bank of Australia. The report mainly reflects on the proper selection of ERP for the bank of Queensland. The ERP selection will help the bank for carrying out various kinds of business processes. The report mainly deals with detail research of ERP for various business process, analysis of system requirements, needs of business, proper selection of vendor, various kinds of security risks, strategies for mitigating risks. All the necessary details will be provided in the coming pages of the report.
Business processes can be stated as set of different connected tasks which is used for delivering any kind of products and services to large number of clients (Tarhini, Ammar and Tarhini, 2015). Business processes can be easily defined as a set of collection of large number of activities along with task that can be useful for organization like Bank of Queensland for achieving its goals and objectives. Different process of business can easily establish correlation among each other and along with this it comes up with same set of goals for making their business unique and superior in the domain. In it a sequence is generally followed for execution of various kinds of business activities and process related to it (Sustainment, 2014). Any kind of business process is generally displayed by the help of flowchart which gives a large sequence of activities which is present in it. Most important kind of business process is customer satisfaction which is considered to highly improvised. Along with it comes up ability to easily react for several changes and alteration which are used in market.
There are mainly three types of business operation. This operation can easily define the ultimate processes and after that creating a preliminary value like placing or taking order or any kind of manufacturing related to it. Management process can be easily defined as the second kind of business processes (Shen, Chen and Wang, 2016). This type of process can easily oversee various kinds of operational processes by involvement of corporate governance, oversight of employment and oversight of budgetary. The third of processes can be defined as supporting processes which are used for providing support to major kinds of operation.
Bank of Queensland mainly comprises of various kinds of business process which are present in the system. There are large number of important for the Bank of Queensland(Shaul and Tauber, 2013).
Lending operation for various personal: They tend to provide personal loan to large number of customer of this bank.
Lending operation for Business: Second business process is for Bank of Queensland as they can provide loans for any business operation.
Lending for security: Third vital business process is that they can easily provide money as loans for large number of security purpose (Seo, 2013). This type of business operation is mainly provided to any organization.
Accounting for customers: After that a vital business process is accounting of large number of customers.
Processing of cheque: This is considered to be another vital business process for Bank of Queensland.
Other kinds of processing of payment: Various kinds of payments can be easily processed for this bank of Queensland.
Maintenance of Account: Various kinds of accounts of customer are generally maintained by their help in a proper way so that no kind of proper case related to security of the money.
Business requirements can be easily defined as specification which has been delivered once. It mainly providing a value for description of benefits of features of the system of viewpoints. Business needs of any kind of business can be easily defined as Stakeholders needs specification (Rosemann, and vom Brocke, 2015). Various kinds of systems, products and software which are needed for determining procedure for delivery, satisfying and meeting all the needs and requirements of business operation. Various kinds of requirements are generally offered for utilization of proper development and procurement of other kinds of system for software.
Three major kinds of reasons are mainly acquired for business requirements. It mainly requires to have proper kind of several needs for the business, filling up output of criteria and satisfaction of customers and other kinds of stakeholders (Ram, Corkindale and Wu, 2013). Business requirements come with high level for high level of products and related services. It comes up certain number of requirements for vague value products or services for major kinds of failure.
Various kinds of requirements of Bank of Queensland. Different needs of Bank of Queensland has been discussed like:
Personal Credit: It is considered as most important need or requirement for various business of Bank of Queensland. Personal credit is mainly evaluated by the application of various kinds of loans for bank of Queensland (Pearlson, Saunders and Galletta, 2016). Major kinds of issues which are addressed is totally based on normal tickets. Various kinds of characters are mainly recorded for paying all the necessary kinds of debts and loans. Various kinds of characters are mainly recorded for providing the debts to the current market which is considered to be significant for various kinds of bank (Nofal and Yusof, 2013). Personal credit is mainly considered to better than any other kind of bank. Bank of Queensland is mainly considered to be cost effective and important for large number of banks which are present in Australia.
Credit of Business: Second important requirement for Bank of Queensland is considered to provide better business for credit (Meyer, 2013). At this particular moment the business begins comes up with large number of operation in a year. The business will easily have good kind of credit score which is mainly incorporated along with name and tax ID number. Credit report mainly provides each and every obligation along with debt which is mainly associated with the bank (Matende and Ogao, 2013). It also provides good kind of credit score which is required for good loan for the business,
Large Asset of Base: Thirdly, Bank of Queensland needs a large base of assets. Business loans are also available for providing security any kind of security against specific assets which are provided (Leon, 2014). They have mainly put their assets which can be used for improvisation of business and it can be easily achieved by having loans from parent bank. This will ultimately help in value of business in a proper way.
Proper Business plan: Fourthly, Bank of Queensland needs a proper kind of business plan. Business plan mainly allows reflection of all profits of business which is considered to be vital for upcoming years (Laudon and Laudon, 2016). This particular plan will ultimately help in financing various kinds of resources of the organization and along with this it will help in obtaining finances of an organization.
Each and every kind of software needs some certain number of software which comes up large number of which are mainly present on the system (Laplante, 2017). This thing is defined as the requirement of computer system for any business organization. Requirements can be easily defined as basic kind of guidelines which mainly opposes the various kinds of basic rules. Two kinds of requirements are mainly utilized that is minimum and various sets for recommendation. Along with this it comes up with option of minimum and sets for recommendation. Along with this high power of processing of is considered as the newest kind of version for various kinds of software. All the provided requirements tend to eventually increase in the period of time (Kasemsap, 2015). Second vital definition of requirements is that it provides all the requirements in a proper way so that proper needs or requirements of the system are satisfied.
Bank of Queensland mainly deals with various kinds of customers and their money and so the requirements of the system are considered to be very much vital for any bank for working it in proper way. There are large number of requirements of Bank of Queensland:
Hardware requirements: It is considered as one of the basic requirement of hardware which is known as HCL (Hardware Compatibility List). This particular hardware requirement is mainly needed for proper working of operating system (Hoch and Dulebohn, 2013). This is inclusive of Architecture, power requirements and lastly memory.
Software requirements: This is considered as the second most important requirement of the system. It mainly defines all the things which are installed in the system for providing a large number of function of the system (Ha and Ahn, 2014). Various kinds of software requirements of this Bank of Queensland are platform and web browser.
ERP (Enterprise Resource Planning) or the vendor is considered to be best for bank of Queensland is SAP. It is mainly considered as a vital vendor of ERP and along its application in various kinds of organization like Bank of Queensland (Galliers and Leidner, 2014). ERP system of bank will help in growing their business operation likes in sales, accounting, production along with human resource which is considered to be significant environment of integration. This particular kind of integration will help in flow of resources which are insignificant for integrated. This particular kind of integration will help in flow of information from one kind part or component to other component of SAP (Dey, Clegg and Cheffi, 2013). It can be easily achieved by the help of legal enforcement and processing controls. Another most important benefit of SAP is that Bank of Queensland mainly focus on effective utilization of resources like production capacity and manpower.
Different benefits or advantages of SAP within Bank of Queensland are:
Competition: SAP can be useful for the organization as it can be would be improving for increasing the competition. It can easily value of competitive advantages for any organization.
Efficiency: ERP software can also help to eliminates the respective processes of any business and minimizing the requirements for getting into the information which is provided manually (Chofreh et al., 2014). Various kinds of business process can be considered to be streamline in this software.
Collaboration: Third advantage of this software is that it can be advantages for this organization for getting not sap collaboration (Chiu, 2014). It will also help in establishing collaboration among the department which can function in a separate way. Data is mainly centralized for this SAP software.
Cost saving: SAP ERP can be defined as a most cost-effective way and it does not incur any kind huge cost.
Scalability and Flexibility: SAP ERP comes up with option of scalability and flexibility. Structure of ERP system comes up amendments for new kind of users (Cao, Nicolaou and Bhattacharya, 2013). Structure of ERP system comes up amendments from large of users and it extremely flexible in nature.
Integrated Streamline: Next kind of significant advantage of SAP software for Bank of Queensland is the integration of various kinds of information (Bijan et al., 2013). It can be considered to be much useful for integrating various kinds of information in proper way and so ERP system can be easily integrated with ERP.
Streamlining of process: Various kinds of processes in Bank of Queensland are considered to be extremely complex in form or nature. Various kinds of processes are mainly required it to be streamline (Bijan et al., 2013). By the help of SAP software all the stated processes can be considered to be streamline in nature.
Customer Service: Customers mainly considered to be an important factor for this bank of Queensland. With the help of SAP software, the organization of Bank of Queensland can easily provide high quality of customer services.
Some of the suitable software for ANZ is SAP vendor.
Three ways which can be used for utilization of resources for SAP in Bank of Queensland is the process of increasing efficiency of various business are:
Improving productivity: First method of SAP ERP software in the business process of Bank of Queensland in increasing productivity. SAP helps in diverging of various kinds of functionalities of this bank in the domain of sales, purchasing, human resource and many other into a single function (Bijan et al., 2013). This will ultimately reduction of productivity of various banks to a new level.
Improving efficiency: Second method of utilization of SAP ERP is to increase the overall efficiency of Bank of Queensland. Generally, a bank needs various kinds of business processes with which they need extreme and efficient kind of things. With the help of SAP ERP chances of increasing inefficiency is minimized or reduced to a new level and so it is accepted widely all over the globe (Becker, Kugeler and Rosemann, 2013). Various kinds of business data are mainly stored within the provided software and this will ultimately reduce the complexity which comes up into action for maintenance of data in a manual way.
Improving Decision making: Thirdly, SAP ERP provides certain number of ways for decision making process. Whole process or method of decision making is taken for totally easy and simplified for some kinds of particular software. So, Bank of Queensland can be easily benefitted from this.
With the help of SAP software, the bank of Queensland will be much benefitted from it as a result the whole method of efficiency will be increased (Becker, Kugeler and Rosemann, 2013). There is list of parameters which will be improve the efficiency of bank as soon as the technology is implemented in it.
Customer satisfaction: Any bank round the globe will only become successful when various kinds of customers are satisfied from it (Becker, Kugeler and Rosemann, 2013). Customer satisfaction will be only gathered with adaptation of SAP which mainly helps in streamline of large number of business processes.
Increasing profit: As various business process is added into single value, extra cost is mainly discarded and so as a result profit will be increase with adaptation of SAP ERP software.
Good control on various business: Generally, it comes up with a good control on various business in a bank and so a result various business will be benefitted with the help of SAP.
Bank of Queensland is considered as one of the popular bank in Australia. They are providing services to large number of customers for more than 100 years and also have encountered various difficult situations in this period of time (Becker, Kugeler and Rosemann, 2013). One of the most important zones is security threats and various kinds of risk. There are large number of security threats or risk, along with data breaches within the system of Bank of Queensland. Various important area or zones of risk and data breaches in this bank are:
Distributed Denial of Services attacks: DDoS attacks mainly refers to most important kinds of risk in any banking system. In this type of attack cyber attacker can easily penetrate or attack can easily seek into the machine making it completely to authorized users. All these users do not have a proper kind of access to the data although being authorized (Antero, 2015). In this particular kind of attack even stops the various kinds of resources of network and so a large number of services are interpreted.
Phishing: Second important type of security risk and issues is phishing. It is considered as the most basic way for having all confidentiality information or other kind of data like usernames or password or even credentials or even bank account and credit cards (Amrollahi, Ghapanchi and Talaei-Khoei, 2013). This particular type of risk mainly takes place when the attackers can easily distinguish himself like trustworthy entity from any kind of electronic equipment’s.
Trojan horse: It can be easily defined like a malicious program of computer that can be used for misleading large number of users for real retention (Amrollahi, Ghapanchi and Talaei-Khoei, 2013). This particular kind of security is mainly spread by the help of social engineering by tricking or clicking on malicious emails.
Attacks from insiders: Another significant kind of security risk in Bank of Queensland is attack from inside. Any person who is within bank deliberately or accidental kinds of breaches of data or any kind of information.
Improper alignment of application controls: This particular kind of application control mainly helps in controlling various kinds of application in Bank of Queensland. One of the major kind of security risk which is associated is misalignment of large number of control application.
Inadequate Management of Processes: This is an another kind of important risk which mainly arises due to inadequate management of vendor. Various kinds of problems come into action just because of this in Bank of Queensland.
Infrastructure for various kinds of security issues: The most well-known kind of risk for any kind of specific bank is its vulnerability of its security infrastructure (Amrollahi, Ghapanchi and Talaei-Khoei, 2013). Infrastructure of bank should be maintained in such a way that it can be vulnerable to large number of risk.
SAP vendor of ERP software is considered to be extremely helpful for this bank of Queensland in overcoming large number of risks (Amrollahi, Ghapanchi and Talaei-Khoei, 2013). There are large number of guidelines for overcoming or mitigating risk which are discussed below in details:
Proper alignment with application control: SAP software mainly consist of alignment of application and any kind of misalignment of control are overcome or mitigated.
Build in cyber security: This is most significant kind of feature or benefit of SAP software which mainly consists of build cyber security which is present in it (Amrollahi, Ghapanchi and Talaei-Khoei, 2013). Various kind of cyber security risk are Trojan horse, malware, phishing, spoofing and many other for overcoming or mitigating with the help of ERP software.
Overcoming attacks of insiders: SAP generally helps in aggregation of various kinds of duties of various kinds of employees which are present in the bank and it can easily access various kinds of confidentiality information (Amrollahi, Ghapanchi and Talaei-Khoei, 2013). So as a result insider attacks can be easily reduced by the help of this kind of ERP software.
Management of infrastructure: This kind of infrastructure of Bank of Queensland is mainly secured with in SAP and ANZ should adopt various kinds of software of SAP ERP.
Conclusion
From the above discussion it can be concluded that this report is all about strategic information system or SIS. It can be easily used for setting up of guidelines which can be used or utilized in large number of application. It generally has certain number of plans which comes up strategies of existing number of principles. Most important kind of objective of implementation of Strategic information system which can be used for enabling large number of number of applications. This type of strategic system is mainly divided into three types that is financial division, strategic division and lastly operational division. Along it is totally depend on kind of system and type of strategic system which is mainly incorporated. Next important benefit of this type of information system is that it can easily help in easy decision making in much easier for it. When this kind of strategic system is integrated with the help of support system then business objective and goals are mainly streamlined and information can be easily aligned properly with provided with strategies. Apart from this SIS (Strategic information system) is mainly responsible for providing possible kind of solution for long and short of objectives which is provided. Various kinds of application are therefore managed with the help of ERP software. The case study of Bank of Queensland are selected for this report. Along with there are some other kinds of business processes for this particular bank. The above report also discusses various advantages and disadvantages of ERP software for Bank of Queensland. The report also focuses on the all the needs or requirements of the business. All the requirements of the system and suitable software along with selection of vendor for this Bank of Queensland. Apart from this various method have discussed which can be used improving various business process of Bank of Queensland.
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