ANZ Banking Group: Business Report On AIS/ERP Systems

Business Processes of ANZ Banking Group

Essentially, with regards to this examination paper, ANZ Banking Group is chosen as a case study keeping in mind the end goal to satisfy and accomplish the key motivation behind the review. Moreover, with respect to this examination paper, distinctive key issues would be talked about amid the investigation of the paper. For example, in this exploration paper, the business procedures of the chose Bank would be broke down so as to comprehend the business operations and working. Also, a point by point dialog on the business and framework prerequisites, programming and vendor selection would be directed. Moreover, this examination paper would address and break down the diverse ways or strategies that could be utilized innovations to enhance business productivity. Then again, the level of effectiveness of the innovation usage would be assessed keeping in mind the end goal to satisfy the destinations of the review. In the meantime, potential security dangers, information breaks would be inspected with regards to ANZ Banking Group. At last, different techniques, ways and procedures would be proposed and recommended to defeat the issues identified with security dangers, information breaks    

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ANZ Bank is one of the leading financial company in the country that offering financial products and services to their customers across the national boundaries. In addition to this, it is also the biggest and largest banking company in the Australia in term of profit, market share, and market capitalization rate. The financial products and services are designed by the company by considering customers needs, wants and perception. And this is one of the main reasons that it is fourth largest bank of the Australian banking industry. This banking company has also international operations. For example, it is conducting and performing its various banking functions in the New Zeeland, and more than thirty notations of the global world.  Apart from this, it is also important to know that, the bank has not only limited products or services because it has a number of banking and financial products and services (ANZ Banking Group.2017).

This helps the company in motivating, encouraging and satisfying their number of customers in an effective and proper manner. For example, the main banking and financial products of the company are credit/debit cards, business loan, individual loans, insurance, retail banking, current/saving accounts, term loans, deposits etc. In addition to this, the company is using various innovative and dynamic business strategies and methods to compete their competitors by offering low cost products and services. For example, the corporate level strategies are helping the company to achieve competitive advantages from the market and overcome different business challenges in an effective and proper manner. Finally, it can be said that, the ANZ bank came into the market in order to provide full banking services to the customers(ANZ Banking Group.2017).           

The below chart is provides a clear overview about the banking business process used by the ANZ bank in order to conduct and perform various banking functions in an effective and properly manner.

Business Requirements

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The above chart indicates that, the business process of the ANZ bank is characterized with two main systems such as: branch delivery system and deposit management system. So, bank is offering full services to their clients. Additionally, it is likewise examined that, the business procedures of ANZ bank is more powerful, vital and compelling. It concentrates on giving full scope of financial products and services to their customers or clients. The business procedures of the ANZ bank are likewise shows that it gives all the real sorts of saving money and budgetary administrations to the clients with a specific end goal to satisfy their necessities and needs. In addition, it is additionally broke down that, ANZ bank is likewise completely devoted to offer full s range of financial services and products to their individual and corporate clients (Wright, 2008).

As indicated by the business procedures of ANZ bank, all the key elements of the organization are straightforwardly or by implication identified with IT/IS (information system/information technology). For instance, every products/services given by the organization is identified with information system, so the organization ought to embrace inventive information systems, apparatuses and method so as to maintain their banking and financial business operations, and capacities all the more precisely, viably, creatively and legitimately. With the assistance of IT/IS, ANZ bank would have the capacity to enhance its managing an account procedure and frameworks. It is on account of the new framework would permit ANZ bank to direct their saving money and monetary capacities over data framework all the more creatively, precisely and quick. IT/IS would give noteworthy chances to ANZ bank to successfully convey and connect with their clients. Similarly, the organization would have the capacity to fulfill every one of the requirements and needs of their clients (Bidgoli, 2006).

IT/IS would likewise help the ANZ bank in expanding the quantity of clients and diminishing the operational or overhead cost successfully. Then again, ANZ bank would likewise have the capacity to offer minimal effort administrations to their clients. This would give upper hands to ANZ bank and it is ready to enhance its present execution. Generally the new framework would help ANZ bank in achieving its center and key objectives in a successful and legitimate way. Moreover, there is quick need to utilize IS/IT framework inside the bank keeping in mind the end goal to gather the ongoing data and manage the wasteful aspects in the present business forms. Consequently, ANZ bank ought to embrace an IT/IS framework as a vital arranging instrument by connecting it with the hierarchical objectives and targets (Blanchard, DGriebel, Pobbe, and  Blanchard, 2011).

In the present time, globalized economy, advancement in the innovations, more aggressive business condition, changes in the client recognition and presentation of new IT/IS framework and so on are the real strengths or elements that may straightforwardly or by implication drive the ANZ bank to embrace and actualize IT/IS and advances keeping in mind the end goal to viably run and direct their business. In this way, it is winding up noticeably more imperative and basic for the organizations to use and execute conceivable data frameworks and innovations at the working environment for the reason to accomplish corporate goals. Similarly, ANZ bank must utilize and execute different sorts’ data frameworks and instruments by considering their functionalities, administrations, and components. For instance, this would help ANZ bank with a specific end goal to accomplish their IT/IS speculation objectives and destinations (Furht, 2010).

Systems Requirements

 ANZ bank fixate ought to likewise concentrate on understanding the criticalness, significance and positive parts of IT/IS for the aggregate achievement. Then again, ANZ bank ought to likewise break down the effect of IT/IS on the business achievement and enhancing authoritative profitability. The administration of the ANZ bank ought to likewise break down and assess the parts and effect of IT/IS framework in improving the speed, exactness of business procedures and exchanges. In addition, through IT/IS, ANZ bank would likewise have the capacity to conquer different operational issues and enhance current business prepare. For case, IT/IS would assume a key part in diminishing the hierarchical wasteful aspects inside its business procedure and exercises. This would likewise spur and empower the staff and representative of ANZ bank to satisfy their everyday assignments and obligations all the more adequately. It implies the new framework, for example, ERP would help the workers of ANZ bank to accomplish their capacities auspicious and precisely (Parsons and Oja, 2012). 

In addition, IT/IS would likewise give a great deal of unmistakable and impalpable business chances to the ANZ bank and its workers. For case, it would enhance basic leadership capacity of its staff and administration and they would have the capacity to take and settle on key choices in the intricate business circumstance. Besides, IT/IS would likewise permit the ANZ bank to produce data and information in a more important way. In general, one might say that, with the powerful utilize and execution of IT/IS, ANZ bank would have the capacity to contend in the market and accomplish upper hands over the compactors (Gitman, and McDaniel, 2007).

In the present time of advanced time, there are different organizations or firms that are giving distinctive sorts of software,, tools, information system and technologies. For instance, TPS, SAP, ERP, DSS, and bookkeeping programming or bundles are the significant apparatuses or frameworks that could be utilized by the bank with a specific end goal to bring advancement at the working environment. Also, every one of these frameworks are the information systems or software or technologies accessible in the market that could be utilized by ANZ bank according to authoritative needs, structure, business handle and corporate techniques and approaches.

MYOB: It is another driving vendor in the Australian software industry that is putting forth an extensive variety of application or software to the clients so that could run different capacities viably. MYOF application is gives offices to the client identified with tax assessment, inventory network, charging, and finance and so on. This product is present to-date data, continuous data, and speed and exactness in business truncations. This product is additionally used to spare cost and rouse the staff of ANZ bank (MYOB. 2017).

SAP: In the present time, SAP SE (Search Engine) is one of the main, worldwide and imaginative multinational software corporations that plan, create and gives venture programming to the business firms so they might oversee and run business operations, capacities and procedures all the more adequately and creatively. The organization is putting forth various application programming projects to their customers with the goal that they could be beat authoritative wasteful aspects adequately. SAP Software projects are exceedingly inventive that offers a great deal of unmistakable and elusive points of interest to the clients. Furthermore, it can likewise be said that, ANZ Banking Group could utilize SAP as an ERP framework so as to satisfy IT goals adequately (SAP. 2017). For instance, ERP is all the more effective programming that has capacity to coordinate distinctive business handle in a solitary framework. Additionally, with the assistance of this product, ANZ bank can likewise bring advancement and consistency inside the hierarchical business prepare adequately. In addition, this could likewise help ANZ bank in overseeing and treatment of general esteem chain. The ANZ bank could likewise convey and associate specifically with their partners or key clients. Similarly, through this, the organization could enhance consumer loyalty rate viably (Morley and Parker, 2009).

Xero: It is a New Zealand based programming or application organization that offers cloud based programming and application to their customers. This product depends on the SaaS (programming as an administration). The primary component of this product is that it could be introduce and utilize effortlessly and successfully with no additional expenses. This is additionally permits the ANZ bank to see their monetary position (Xero. 2017). Moreover, ANZ bank ought to consider and comprehend the conceivable functionalities, components and administrations before utilizing and actualizing any product. Essentially, one might say that, ANZ bank ought to settle on their choice in light of the accompanying components, administrations and functionalities of the product or applications (Xero. 2017).

Applications/Categories/functionalities: Generally, SAP is a high end software or application that could be used by the ANZ bank in order to overcome more complicated business issues. On the other hand, Xero is low & medium category software that could be used by the bank to analyze the financial position and strength of the company. But, it would not be suitable for the bank because it is appropriate for the small companies. MYOB is also same as the Xero and use to conduct the functions related to payroll and supply chain. So, it is suggested that, the Bank should invest the money in SAP because it would be more effective and appropriate as per the organizational need of the bank. This would help the bank in aligning its core banking goals with the strategic mission and vision of the company. It would also allow the bank to overcome several banking costs and overhead expense.  In term of speed, accuracy, innovation, it is most effective as compare to other information system tools, so it is suggested that, the company should use SAP as information system to bring innovation within the current banking systems and process and improve decision making at the company (Carol, 2009).  

There are distinctive imaginative and particular ways or procedures or strategies could be utilized by the ANZ managing an account Group to use advancements with a specific end goal to improve business proficiency.

Promoting Shared Objectives and Friendly Communication:  This is one of the best strategies that ANZ Banking Group could embrace to use new advancements at the work environment to enhance business productivity. According to this technique, the organization and its administration would need to concentrate on advancing open and agreeable correspondence framework inside the organization. For case, open correspondence would enable the organization to utilize advancements by connecting it with the corporate objectives and destinations (Whitman, and  Mattord, 2013).

Promoting use of IT/IS System at the company: This is the second strategy that can help the organization in using the advances at the working environment to upgrade business execution. According to this strategy, the administration of the organization ought to propel and empower their staff, laborers or representative to bring new thoughts and plan for the accomplishment of the organization. This progression would urge the authoritative individuals to utilize new and inventive data framework and advancements at the work environment.

Accessing Organizational and Individual work Productivity:  On the premise of this strategy, ANZ Banking Group would need to upgrade its business procedure, hierarchical structure and culture. The new business prepares or authoritative condition would advance the utilization of innovations in the organization with a specific end goal to upgrade business Efficiency (Whitman, and  Mattord, 2013).

It is more imperative and profitable to assess and investigate the level of effectiveness of the innovation usage. This progression would help the ANZ bank in achieving the innovation related destinations and capacities. Besides, with a specific end goal to assess the level of effectiveness of the innovation usage, a few variables ought to be considered by the top administration of ANZ bank in a successful and legitimate way. For instance, ANZ managing an account Group ought to consider the cost, advantage and opportunity examination for the innovation execution (Binu and Meenakumari, 2012).

 In addition, ANZ bank would likewise need to assess its authoritative structure and Existing Platforms accessible inside the organization. The necessities of end clients ought to be considered adequately by the top administration of the ANZ bank. Besides, appropriate support from the top administration and IT division ought to be considered with a specific end goal to assess the productivity of the innovation usage. Then again, it would likewise be more significant by the ANZ bank and administration to get to political, specialized, social and social components. Moreover, it would likewise be fundamental for ANZ bank to consider influence source, attractiveness and effectiveness so as to assess and dissect the level of proficiency of the innovation usage in a compelling and legitimate way (Veiga, and  Eloff, 2007).

The usage procedure may make a considerable measure of security dangers and information ruptures in the front of ANZ bank. For instance, ANZ bank may confront security issues identified with information hacking and online misrepresentation. For case, an outsider could utilize profitable and private and classified data of the organization by the unapproved get to that may make potential security dangers. Then again, ANZ bank may likewise experience the issues identified with digital wrongdoing, Social Media Attacks, Lack of Encryption, Cheating, Cyber Security dangers, control, misappropriation of benefits, fumble of information/data, mailing room extortion, Kickback misrepresentation, archive extortion, web/online extortion, Monetary guide misrepresentation and so on. In this way, these are the significant security hazard and information ruptures that could be confronted by the ANZ bank in the utilization of new innovation (Duggan, Johnson, and  Grawemeyer, 2012).

With a specific end goal to conquer such security related issues and information ruptures, it is recommended to the ANZ bank that it ought to build up a solid and strict security strategy at the working environment. Furthermore, the new framework ought to be secret word ensured so that any outsider couldn’t utilize organization’s data through unapproved get to. ANZ bank ought to likewise contract unique staff or a group of IT experts with the goal that they could screen and refresh the framework in the standard premise. This procedure would lessen the odds of misrepresentation, security dangers and information ruptures. Aside from this, ANZ s bank should likewise utilize moral and lawful benchmarks at the working environment so that nobody could utilize data by unapproved strategies. These procedures and strategies must be utilized by ANZ bank with a specific end goal to defeat potential security issues and information ruptures (Jansen, and Grance, 2011).

Conclusion

On the premise of above exchange, it is inferred that, ANZ banking Group ought to embrace and execute data frameworks and new innovation at the working environment by considering the capacities, administrations and functionalities of programming or applications. ANZ banking Group could utilize diverse particular approaches to utilize innovation at the work environment so as to bring advancement at the working environment and persuade their representatives. At long last, it can be reasoned that, execution of another innovation or data framework could brings different security issues and information breaks in the front of ANZ banking Group so these ought to be kept away from by utilizing distinctive techniques and ways.   

References

ANZ Banking Group (2017). About Us. Available At: https://www.anz.com.au/personal/ [Accessed on 20 May 2017]

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Carol, A.G. (2009) Recovery Act: As Initial Implementation Unfolds in States and Localities, Cengage Learning. Continued Attention to Accountability Issues Is Essential. USA: DIANE Publishing.

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NIST special publication, pp. 800, 144.

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Parsons, J.J. and Oja, D. (2012). Computer Concepts: Illustrated Introductory (9th ed.). USA: SAP (2017). About SAP. Available At: https://go.sap.com/index.html [Accessed on 20 May 2017] Upate: Today and Tomorrow. USA: Cengage Learning.

Veiga, A. D., and  Eloff, J. H. (2007). An information security governance framework.

Information Systems Management, 24(4), pp. 361-372.

Whitman, M. and  Mattord, H. (2013). Management of Information Security (4th ed.). USA: Cengage Learning.

Wright, C.S. (2008). The IT Regulatory and Standards Compliance Handbook: How to Survive Information Systems Audit and Assessments. USA: Syngress.

Xero (2017). Available At: https://www.xero.com/ [Accessed on 20 May 2017]