AIS/ERP Systems Business Essay: Case Study On Westpac Banking Corporation.

You will be required to conduct research on AIS/ERP Systems for your client. Your team is required to pick a case study in one of the areas mentioned below (not limited to). Then prepare a Business Report for the client detailing the processes of selecting an AIS/ERP to help them to make informed decision for investment in information system to take their business to the next level including:

1. Define business processes,
2. Develop business requirements,
3. Determine the systems requirements,
4. Software and vendor selection
5. Determine at least three ways which companies or organizations utilize such
technologies to improve business efficiency
6. Evaluate the level of efficiency of the technology implementation
7. Examine potential security risks, data breaches
8. Provide guidelines on how these risks could be mitigated.

Westpac Banking Corporation is chosen from the banking sector in order to access and analyze how AIS/ERP Systems would help the bank in improving its efficiency in the market. Additionally, with regards to the selected company detailed information about the business process, business requirements, systems requirements, and software and vendor selection would be provided. At the same time, technologies utilization methods, security risks, data breaches would be identified and address in the paper. Finally, a number of methods and strategies would be recommended to the company in order to overcome challenges associated with the security issues and data breaches.   

Westpac Banking Corporation is also known as Westpac in the banking sector of Australia. Moreover, it is the fourth largest financial service company and banks in the country with the highest market capitalization, and largest branch network. The bank is also well-known for its trusted, reputed and flexible products and services in the Australian banking and financial sector. In addition to this, there are several types of banking products and financial services are offered by the company to their customers at the best possible rate. On the other hand, the company is offering a number of financial products to satisfy their customer’s financial needs and wants. At the same time it is also accessed that, this bank had adopted different innovative banking and financial strategies in order to achieve competitive scope from the competitive banking market.  In addition to this, it is also important to know that, this bank is using different business process in order conduct their banking and financial business. The following flowcharts and diagrams clearly indicate the business banking process utilized by the bank in order to attain organizational strategic vision and mission.

In addition to this, the following business process of the company reflects that, the company is conducting all the types of banking and financial services functions to fulfill the organizational mission and vision. This is the main reason that company is able to full services at the lower cost to their customers. The company is also focusing on offering full service to their customers after and before the sale of products.  

After analyzing, accessing and evaluating the banking business process of Westpac, it is found that, there are a lot of major, significant and indispensable functions of the bank are associated and directly linked with the IS/T. For example, the functions related to marketing, sales, human resources management, banking operations, accounting and finance etc are the key indispensable functions of the bank that would require effective technologies, information systems/technology, accounting software. For case, in order to bring innovation, flexibility, accountability, reliability, creditability within the accounting, auditing and financial functions, the company would require AIS/ERP. This new system would help the bank in dealing with the current banking challenges, reducing overhead costs, and improving productivity (Johansson, and Sudzina, 2008).

Business Requirements

On the other hand, in order to run the banking business functions more smoothly, accurately, professionally, and fast, the bank must invest in the AIS/ERP. This would also allow the bank not only to improve individual and organizational productivity, but also help the bank in attaining competitive scope, fulfilling information technology related goals and objectives in an effective and proper manner. At the same time, the bank would also need to compete in the market and gain competitive advantages over the competitors in the banking sector, so, by considering all these things and aspects, it should adopt and execute AIS/ERP at the workplace. It would also assist the company in creating of long realistic relationships with the shareholders and customers. On the other hand, in order to deal with the organizational errors and challenges, the bank would have to spend their time, money on the use of new systems. This would also help the company in aligning its objectives and goals with the organizational strategic vision and mission. For case, ERP system would allow the bank to conduct planning and prepare plans for the success and growth of the firm (Wieder, Booth, Matolcsy, and Ossimitz, 2006).

The new system would require to understand and analyze various aspects of the AIS/ERP or information systems. Moreover, the bank has to consider internal and external factors that could negatively affect the success of the new systems. For example, the level of competition, changes in the attitudes and perceptions, up-gradation in the technology, impact of globalized economy etc are the key factors that has to analyze before using and implementing information systems. On the other hand, the management of the bank should also access the impact of political, legal, environmental, social, cultural, technological environment or factors on the new systems. This would help the management to attain key IT objectives. At the same time, opportunities, befits and costs of new implementation would also need to consider in the term of system requirements. Along with this, the functions, services, functionalities and features associated with the new systems would have to consider effectively by the bank. Additionally, limitations and disadvantages of using the new systems would need to consider in order fulfilling the long term organizational goals (Kumar, Pollanen, and Maheshwari, 2008).

The selection of a software as well as vendor should not be based on the observation. It should be based on the key functionalities, services, features, flexibility. Moreover, it is also important to know that, in the present time, a number of companies are working in the Australian software industry that is offering a wide range of software applications to both individual and corporate customers. The software packages offered by these companies are different in term of cost, benefits, uses, need and functions. For example, MYOB, Recon, XERO, SAP, etc are the leading and fast growing players in the software industry of Australia. These vendors are offering unique software products to a number of customers.

Systems Requirements

On the other hand, it is also analyzed that, ERP, DSS, TPS, MIS, etc are the major software and applications available in the market of Australia that could be used by the company in order to fulfill its information technology related objectives and improve productivity and profitability. This software could help the company in fulfilling its needs, wants regarding the information systems and technology. Additionally, it would be essential for the company to effectively understand the benefits, services, functions, and functionalities of the new systems. The following below given table is developed that is providing a clear view and information about the major vendors, their software along with key services, functions, and functionalities (Haug, Pedersen, and Arlbjørn, 2010).           

The above given table clearly indicates that, the bank should use SAP ERP in order to attain IT investment objectives and improve organizational efficiency.

There are unlimited methods and ways that could be adopted by the business firms to use technologies in order to improve business efficiency. In addition to this, it is also important to know that, utilization of technology is a way by which companies link their business strategies, methods and process with the technology in order to support both long term and short term organizational goals, objectives mission and vision. The following are the fundamental ways that must be used and considered by the company in order to utilize technologies to improve business efficiency (Ellis, and Van Belle, 2009).

Conducting Planning and Improving Communication: This is the fundamental and most significant method to utilize technology. As per this method, a company should conduct specific plan about how to use technology within the company to attain key objectives. So, this method indicates that the IT manager, top management or the company must develop dynamic plan about the use of technology to gain competitive advantages and improve RIO. Moreover, this plan would also help the company to manage the money because implementation a technology would be costly decision for the company. At the same time, the company must also focus on improving communication with their employees, stakeholders and customers about the use of new technology. This would promote open communication and innovation within the company. For example, communications would help the company in the flow of information within a business (Dien, 2010).

Redesign Key Business Processes: This method suggests that, in order to effectively implement the technology within the current business process, a company should rethink about the current organizational and business process. On the other hand, specific and innovative strategies should be proposed to use technology. This method would help the company in attaining its information systems related objectives. Moreover, as per this method, a company should also promote and encourage innovation within the company by redesigning its current business process van (Gurp, Prehofer, and Bosch, 2010).   

Software and Vendor Selection

Employee Motivation: It is one of the most and dynamic way or method to use technology within the company. As per this method, a company should motivate and encourage their staff, employees or stakeholder to come with the new and innovative ideas. This strategy would promote open communication and innovation at the workplace. In the same way, the people of the company would feel more motivated and provides specific methods to use technology within the company. Hence, employee motivation is essential element in the successfully implementation of a technology within the current business environment (Poba-Nzaou, Raymond, and Fabi, 2008).

It is more important and complicated task for business firms those are using information systems, technologies and other software tools and application. It is because in evaluating the level of efficiency of the technology implementation, a company has not only spent the money but also has to give more time and effort. It is a lengthy and time consuming process. But, by evaluating the level of efficiency, a company could achieve its business goals as well as IT investment objectives. In order to do this, several techniques, methods, procedures and steps should be followed by the company effectively and appropriately. For case, the one of the most appropriate and innovative method is to create and develop specific and excellent apps in order to analyze the efficiency of the technology implementation. On the other hand, the company should conduct analysis on the cost/benefits/opportunities associated with the new technology or system. This step would allow the company to track the progress of the technology execution. At the same time, the company must redesign and access its current business process, organizational structure, performance of existing platforms. This will help in analyzing the level of efficiency. At the same time, the senior management of the company must also give their views about the performance of technology. Along with this, both the types of factors such as: internal and external must considered in evaluating the technology. In the same way, use of power source is another method that could also be used by the company. Overall, it can be summarized that, different factors, methods, and procedures must be used to effectively evaluate the efficiency of the technology implementation (Botta-Genoulaz, Millet, and Grabot, 2005).

It is true that, when the company would use, apply, execute and implement the new system or software within the current business process in order to support organizational vision and mission, it may face several security related risks and data breaches. These would negatively affect the entire systems and objectives of the firm. For example, insecure practices would bring the issues related to theft, fraud, neglect and loss of sensitive and confidential issues. In addition to this, it is analyzed that, the company could also encounter the problem related to the cyber crime, hacking and theft. For instance, anyone could be able to collect the confidential and private information of the company by generating fake user ID and password through unauthorized practices. This may harm the system and information of the company. On the other hand, it is also important to know that, in the use of new system, the company may also face different kinds of security issues including virus, spyware, Trojan, Adware, Scareware, Worms etc. These security issues would negatively affect the functioning of the new system and would generate various types of risks and issues in the current and future time in the front of company. Along with this, it is also found that, these security issues or data breaches would not only affect the new system but also affect the success, productivity, objectives and other business aspects. Simply, it can be said that, the company would not be able to attain its key IT investment objectives because data breaches or security risks would bring a lot of additional costs for the company. So, the company must adopt innovative procedures and methods to handle such issues and challenges in an effective and proper manner (Rolandsson, Bergquist, and Ljungberg, 2011).   

It is essential and important to adopt various specific ways and method to effectively deal and mange data breaches and security risks. So, a number of ways could be used to mitigate these issues or challenges. For case, a company should protect private and confidential information by using a powerful security policy at the workplace. For case, the firm should provide security and privacy training to all the individual or people related to the systems about the data breaches. This would aware them about the security issues and overcome potential issues. On the other hand, it is also important for the companies to define accessibilities, tract data, monitor data linkage and ban on unencrypted device. Additionally, the company should also use effective measures to control and monitor their employee activities in order to avoid potential issues. Furthermore, a company should also focus on conducting security and data breaches risk analysis. This would allow the company to prepare potential risks and issues effectively (Beard, and Sumner, 2004).

At the same time, it would also be more effective for a company to properly communicate and use reliable sanctions in the context of information privacy and security violations. Moreover, the company must also spend their time and efforts in creating, developing and proposing specific innovative and dynamic security policies and procedures towards controlling and handling confidential and private information. They system should be password protect so no one could access sensitive information and data of the company. All the current software and applications should be updated by the company on the regular time. Along with this, IT staff or professional should be hired by the company to provide specific guidelines about the use of new system or software. This is more effective strategy that could be used by the firm in order to address and solve the security related issues at the time. In addition to this, it is also more necessary for the staff of the company to monitor all the activities of the network by using innovative ways and method (Staehr, 2010).

Moreover, it is also found that, a company should also cross check and verify the vulnerabilities within the networks in the software in order to deal with such issues. Along with this, the company should also take back up of data on the regular time by reassessing their email management. In the same way, the company should also boost security by implementing two-factor authentication. Additionally, a document recovery plans must also be developed at the workplace to overcome security issues (Al-Mashari, Al-Mudimigh, and Zairi, 2003).      

Conclusion: 

Based on the investigation of the study, the main finding of this research report is that, in today’s digital business era, it is more valuable and essential for the companies to adopt and use various types of systems not only to improve profitability but also efficiency. Additionally, it is also found that, the use of information system within company is more helpful in gaining tangible and intangible benefits. Moreover, it is accessed that, SAP, MYOB, Recon, Xero are the key vendor or software service providers in the market and these software applications could be used by the company in order to fulfill IT investment objectives. Finally, it can be concluded that, the implementation process of ERP or other software can generate various types of security riks and issues that should be handled by using specific methods and ways.

References:     

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