1. Liberty Wines is a UK company which basically supplies wines to restaurants, supermarket and other retailers. The Company was started as a small venture and has grown over the years. Due to the growth, the business organization has been seen facing various risks in managing up with the said expansion. The overall IT structure in place is not enough to match up with the growth and the speed of the processor installed is very slow as well. So much that it fails to handle the present set of data successfully. The employees also are not being able to respond to their customer base on time thus leading to a setback in the customer order processing as well as inventory management.
At the start of the business of Liberty Wines, the IT structure that was installed was not enough to take into stance the growth prospects. The company could not compete with other organizations who were a part of the same business line due to inefficiency of Liberty Wines to manage huge volumes of data (Winkle. 2013). The retail business is all about serving the customers well and due to a slow IT system it failed to do the needful therefore leading to a loss of many customers as well to its competitors.
Thus server virtualisation finally helped the company in many ways. It has a lot of benefits to offer such as under:
i. Environmental benefit: Server virtualisation ensured that the company’s carbon footprint gets slashed down by sixty percent as due to the shift to virtualisation, the cost of power and usage of air conditioners declined substantially.
ii. Server speed: Server virtualisation has led to an increase in the speed of the server. The company is now able to reply to its customers well on time without any buffer in hand. This enables to build a good reputation in front of the customers instantly.
iii. Ease in disaster recovery:Due to server virtualisation, Liberty Wines has been able to incorporate three essential components. First and foremost, the same frees a company from being dependent upon a particular vendor for hardware support as a disaster recovery site does not need any identical hardware. Secondly, the organization reduced the number of servers to only three which enabled it to create a replica of the site very easily. Lastly, a second server backup is created which helps to recover in case of crashing of the main server.
iv. Cost reduction: Because the number of servers got reduced significantly, hence the overhead costs also automatically got reduced as the office space needed also got reduced (Kupfer, 2012).
2. Financial Crimes Enforcement Network, popularly known as FinCen was established in the year 1990 and till about almost two decades it had to undergo various issues related to the usage of outdated information technology system. So much that its main purpose of establishment was getting defeated i.e. to fight the financial crimes (Rouse, 2011). Due to lack of adequate online system, its quality was also not up to the mark as they were unable to analyse the data on time and with sufficiency. They used off line of interaction which led to stoppages on their way towards success.
FinCen is required to look into upgradation of the investigative capabilities, the infrastructure that supports the IT system and the set of data. On taking care of these, the bureau will be able to successfully collect timely valuable data, process and present the same to the respective users. Time is the main crux of this bureau which can improve only if the IT system is improvised. For the same, they have launched an application enabling the users to get hold of the required information instantly at any time of the hour.
The financial intelligence is reliant upon the promising analysis of the records so as to recognize the cases and associations that would render possible illicit and dishonest behaviour and conduct.
The work of FinCen is of utmost importance from the point of view of a country’s security. The intelligence team of the bureau enable the timely detection of money laundering acts as well as terrorism (D’Souza, 2012). Detection of such instances can enable the national forces to be alert and take action in advance so that the nation is safe from any such disruption which can endanger one’s safety and security.
The recent financial crime that FinCen has detected and disrupted is by Ann Martin who has worked with FinCen. She helped to collect huge amount of information in the year 2010 about the smuggling of cash fro American Narcotics Sales to Mexico, depositing the same into the banks their and then again re-transmitting the money back to America. The Government of Mexico, applauded the work of Ann stating that for the very first time they have been able to discover specific data against the said crime and is being able to take an action. However, it has been possible only because of the integration of the IT system of FinCen which supported in correlation of valuable information from numerable sources without any delay (Partners for Public Services. 2011).
References:
D’Souza, J. (2012). Terrorist Financing , Money laundering, and Tax Evasion: Examining the Performance of Financial Intelligence Units. CRC Press: London
Kupfer,M. (2012). Top 5 benefits of server virtualisation for your business. Retrieved from https://blackdiamondsolutions.com/top-5-benefits-of-server-virtualization-for-your-business/
Partners for Public Services. (2011). Ann Martin: Disrupting the Flow of Dirty Money. Retrieved from https://breakinggov.com/2011/09/20/ann-martin-disrupting-the-flow-of-dirty-money/
Rouse,M. (2011). Financial Crimes Enforcement Network (FinCen). Retrieved from https://searchfinancialsecurity.techtarget.com/definition/Financial-Crimes-Enforcement-Network-FinCEN
Winkle,W.V. (2013). Business Continuity and Virtualisation. Retrieved from https://www.tomsitpro.com/articles/virtualization-disaster_recovery-business_continuity,2-193.html
