Canada - It Implementation in Bfsi Essays

721 Words Oct 10th, 2014 3 Pages
Ans 1:

Canada has the world's highest per capita membership in the credit union movement, with over 10 million members, or about one-third of the Canadian population. They should definitely improve their current banking systems which can prove to be a powerful competitive weapon that can be used to capture market share, improve customer service, reduce operating costs, and create new products and services.

Management perspective: It is highly unproductive for managers to be spending time collecting, processing, or even locating data and information necessary for decision making. Instead, managers should be spending their time applying information and bringing to bear their knowledge and experience in solving problems. This is possible
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Therefore, Credit Union need to have more reliable Management Information Systems that can provide a level of security that cannot be breached.

Environment (Other Competitors): The adoption of MIS applications will elevate the competitive advantage of the Credit Union. Indeed, the strategic value of information technology is extremely important in the advancement of customer satisfaction and growth of productivity. It will enable them to respond appropriately to changes in target markets and stay ahead of its competitors.

References: 1. C. Ferran and M.L Lenard, “An Object Oriented Approach to Banking Information Systems”, 1997, pp. 1-7. 2. World Bank: Implementing Financial Management Information System Projects: The World Bank Experience 3. IRS: Financial Management Information System (FMIS): Privacy Impact Assessment

Ans 3:
Hershey Foods Corporation was involved in an ERP System Implementation failure. The company spent $112 million and 30 months on their ERP project. When they went live in July 1999, the company experienced problems pushing orders through the system, resulting in shipping delays and deliveries of incomplete orders.
1) The project was originally scheduled to take four years, but the company forced the implementation to go live in just 30 months. 2) The company simultaneously implemented a customer-relations package and a logistics package, substantially increasing the overall complexity and employee

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