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Business Transaction Centre Management

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Question:

Discuss about the Business Transaction Centre Management ?
 
 

Answer :

Introducation :

Overview of the Program

The purpose of this transaction center is to generally provide an enhanced transactions ability in the community. It will be providing banking services, ATMs, Centrelink services in addition to Medicare easy claims, printing, secretarial services, tourism, and involvement in employment schemes, facilities for visiting professional, post, fax, phone and internet.

These services will be offered in the community to facilitate the ease of transacting. The services to be offered here will include deposits, withdrawals, loans and even related banking services to the community. The additional services will include credit and debit cards given to the community members to facilitate the business transactions (Al-Mudimigh, 2015).

The community will draw major benefits from ATMs, bank services and Centrelink services. For example, by being allowed to deposit their money in the bank and withdraw and make online payment anytime they wish, the security of the money will be ensured. Also, using the Centrelink services, they will own online accounts which they can use to pay for services including medical and insurance services. Moreover, the community will still be able to get loans and even mortgage which will help them improve their living standards.

The credit and debits cards will be issued for them to facilitate their business transactions. Also, the community will earn interests on the deposits hence increasing their wealth base. The communication strategies for agencies involved will include telephones, letters and even mass communication. The staff will be highly trained to manage the additional services offered including the effective engagement of every stakeholder including the community members.     

The community faces serious disadvantages due to lack of Centrelink services and Baking services in the Business Transaction Center. There is an urgent need to provide these services in the area to help in the transaction in the community. It is increasingly impossible in the 21st century to run businesses without banking services and Centrelink services. The lack of these services impede the business and even individual transactions of the entire community. The provision of these services in the area will increase the businesses in the area.

As indicated above, this program really needs to be funded as people have problems having to carry huge amount of unsafe cash every time they buy goods and services. In fact the problem is even more compounded as people face insecurity issues since they have to carry hard cash. With the introduction of Centrelink services, the people will open online accounts and they will easily pay and get paid for various services they want to be offered to them without necessarily having to physically go for these services.

 


Project/Program Needs Statement

The main challenge facing the community is the lack of banking services including an Automated Teller Machine and Centrelink services. This problem impedes the delivery of effective and adequate service by the community Transaction Center.  The needs assessment in the community earmarked this challenge as an urgently needed to complement the already offered services including Medicare easy claims, printing, secretarial services, tourism, involvement in employment schemes, facilities for visiting professional, post, fax, phone and internet.

The lack of ATMs in the center has led to allow of inconvenience. People cannot withdraw cash at any part system to which an ATM is connected. The people also lack the debit card and, therefore, it becomes unsafe as people always have to carry cash around with them. The lack of debit card has also prevented people from using it to pay at certain retail shops besides keeping their money safe. People, therefore, lack the vastest array of services of any financial institution. With banks, the community would benefit from the thrift of deposits offered by banks to encourage savings as well as checkable (demand) deposits that would offer a mean of payment for purchases of services and goods. The residents also lack the services of credit offered by banks via direct loans by discounting notes which business customers hold as well as provision of credit guarantees.

The community further lacks the loans offered by banks to consumers for purchases of durable commodities including automobiles, as well as for home improvements. Having banks will also manage help in managing the property of customers under the trust agreement as well as manage the cash positions of their respective business customers. The community will also be able to purchase as well as lease equipment to customers as an option to direct loans. Banking services in the center will also help their clients with buying as well as selling securities via discount brokerage subsidiaries, acquisition and sale of foreign currencies, supplying of venture capital to commence a new business, as well as purchase annuities to supply upcoming funding at retirement or additional long-term projects like supporting a college education.

The introduction of Centrelink in the Business Transaction Center will be a major boost to the community. It will facilitate the delivery of an array of payment as well as services for the unemployed, retirees, parents, carers, dibbled, families, and other people from a diverse linguistic and cultural backgrounds. It will also provide Centrelink online accounts that will provide a secure manner for the account holder to submit any claim, receive reminders, activity requirements, report income as well as update details for certain Centrelink payment online. It will enable the account holders to make application for an advance payment, request replacement card, complete rent review among other beneficial provisions.

 


Project/Program Goals

The goal of this proposal is to enhance the transaction in the community by installing banking services and Centrelink services within the Business Transaction Center to facilitate the ease of transacting in the community without the need to carry unsafe cash while transacting.  

Project/Program Activities and Resources (Scope)

The Business Transaction Center will include a number of activities. The activities will be divided into two phases. On one hand, the activities will be categorized to those link to the installation of banking services and on the other end those link to Centrelink Services. In relation to banking services, various activities will be undertaken. The first activity will be to acquire land for building the bank and ATMs. Here, the land will have to be purchased and building constructed. ATMs will also be installed (Safeena & Date, 2015).

The construction and installation of ATM is expected to take a period of 2 months. The other activity will be fittings and portioning of building to allow for fixtures and fitting. On the other hand, the Centrelink offices will also be finished and furnished with all the resources required. Once the buildings will be ready for occupation, the installation and configuration of every technology required will be done upon the purchase of all the technologies including the necessary Applications required.

The whole process will take one month. Both the non-staff as well as staff resources will be used. Among non-staff resources, various outsourcing or subcontracting will take place. Installation of application will be done by outsourced experts. On the hand, staff resources will include banking professionals as well as Centrelink experts. The performance measures will be based on increase in transaction via banks and ATMs withdrawal and deposits of money. Success will also be measured using number of clients running online accounts of Centrelink and bank accounts.        

Budget

Salary Expenses

Amount ($)

Recruitment

Salary (award level and rate, hours work)

Superannuation

1000

40,000

20,000

 

 

Administrative/Operational expenditure

 

Accommodation

Advertising and Publicity

Catering

Computer Expenses

Consultant/Guest Speaker

Equipment (computers, projects)                                

Hire of vehicles

Hire of venue

Insurance

Photocopying and Printing

Postage

Stationery supplies

Telephone

Travel

Workshop/conferences fees

20000

10000

20000

1000

3000

100,000

20,000

2000

120,000

1000

500

200

2000

2000

4000

Assessment and Reporting Expenses

 

Audit Fees

Evaluation Expenses

3000

4000

 

 


Monitoring and Evaluation

Monitoring and evaluation of a project is important. In this program, it will be evaluated and monitored based on its success. To begin with, the monitoring and evaluation will be focused on the ability of the program to meet its goals and purposes.  The monitoring will be done on basis on the ease of transaction in business transaction center. It will bring benefits of having the Centrelink services, bank services as well as ATMs in the area.

The progress of opening the bank accounts and online Centrelink accounts will also be checked. The outcomes of the program will form the basis for monitoring and evaluating the program. The people who have opened these accounts will be followed up and ask about their feedbacks and how they find it using the new additional services like withdrawals, depositing as well as making payment using the Centrelink.

The feedback arising from these clients will form the basis for analysis to check how the program is benefiting the community and even the challenges facing the community. The recognition of these challenges will form the basis for adjusting to improve the transaction. Various persons will be used in the monitoring and evaluation processes. For example, auditors and monitors and evaluators will be recruited to undertake the process. These professional will be given the necessary support and ample time and enabling environment to undertake the process (Westhorp, Stevens & Rogers, 2016).

The auditors’ independence will be assured and evaluators will be given every information required to perform their respective duties. Various records will be kept as the monitoring and evaluation being undertaken. For example, some of the critical records as listed above will include number of bank account holders, number of debit and credit card holders, online accounts for Centrelink and even the amount of withdrawals and deposits being recorded (Lu et al., 2015). 

Other records will include the amount of payment services being done through Centrelink services. The other records that will be recorded will include challenges facing the community as a result of the introduction of these extra services. The timeframe for monitoring and evaluation will commences after the first three months and done subsequently at an interval of two months.

The frequency of evaluation and monitoring will enable to the evaluators and monitors to know the true position in terms of progress of the program with respect to the achievements of its goals. Various costs will be involved within monitoring and evaluation of the program. For example, the salaries and wages of paying the monitors and evaluators. Another cost that will be involved will include the cost of materials for undertaking monitoring and evaluation (Halligan, 2015).

 

Summary   

The community faces serious disadvantages due to lack of Centrelink services and Baking services in the Business Transaction Center. There is an urgent need to provide these services in the area to help in the transaction in the community. It is increasingly impossible in the 21st century to run businesses without banking services and Centrelink services. The lack of these services impede the business and even individual transactions of the entire community. The provision of these services in the area will increase the businesses in the area (Chen, 2013).

As indicated above, this program really needs to be funded as people have problems having to carry huge amount of unsafe cash every time they buy goods and services. In fact the problem is even more compounded as people face insecurity issues since they have to carry hard cash. With the introduction of Centrelink services, the people will open online accounts and they will easily pay and get paid for various services they want to be offered to them without necessarily having to physically go for these services.

The funding of this program will have a vast positive to the community. For example, the community will draw major benefits from ATMs, bank services and Centrelink services. For example, by being allowed to deposit their money in the bank and withdraw and make online payment anytime they wish, the security of the money will be ensured (Agboola, 2015).

Also, using the Centrelink services, they will own online accounts which they can use to pay for services including medical and insurance services. Moreover, the community will still be able to get loans and even mortgage which will help them improve their living standards. The credit and debits cards will be issued for them to facilitate their business transactions. Also, the community will earn interests on the deposits hence increasing their wealth base.

 

References

Agboola, A. (2015). Electronic payment systems and tele-banking services in Nigeria. The Journal of Internet Banking and Commerce, 2006.

Al-Mudimigh, A. S. (2015). E-business strategy in an online banking services: a case study. The Journal of Internet Banking and Commerce, 2007.

Chen, C. (2013). Perceived risk, usage frequency of mobile banking services. Managing Service Quality: An International Journal, 23(5), 410-436.

Halligan, J. (2015). Coordination of welfare through a large integrated organization: The Australian Department of Human Services. Public Management Review, 17(7), 1002-1020.

Lu, M. T., Tzeng, G. H., Cheng, H., & Hsu, C. C. (2015). Exploring mobile banking services for user behavior in intention adoption: using new hybrid MADM model. Service business, 9(3), 541-565.

Safeena, R., & Date, H. (2015). Customer perspectives on e-business value: case study on internet banking. The Journal of Internet Banking and Commerce, 2010.

Westhorp, G., Stevens, K., & Rogers, P. J. (2016). Using realist action research for service redesign. Evaluation, 22(3), 361-379.

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