HA2042 System Analysis and Selection on Westpac Banking Corporation Assessment Answer
System Analysis and Selection
The given report is based on Westpac Banking Corporation that was founded in Australia to provide banking as well as financial services to their people in appropriate manner. It is providing service at worldwide level. The main aim of report is to evaluate as well as recommend ERP software. The different business activities are provided such as loan, mortgage, customer banking, financial advisory and treasury and so on. For carrying such activities, it is important to have proper process by business so that they could deliver high quality products and services. Westpac is using 10x SuperCore software for their business which has made work easy and simple. This report discusses about software requirements where different ERP software vendors are classified along with describing products. The comparison is made in terms of ERP software packages and appropriate is selected and implemented in business.
It is crucial for business to analyse different system of information and evaluate them for selecting best one (Adela and et. al., 2018). This will helps to run business activities and operations in appropriate manner. In this report, employed as graduate consultant at ASX listed company where business is planning to make investment in ERP (Enterprise Resource Planning) systems for growth. The organisation selected for given assignment is Westpac Banking Corporation which is banking as well as financial service provide to people founded in 1817. It is operating at worldwide level having 1204 branches and 3222 ATMs. Being consultant report should be prepared and recommendation should be provide for ERP software. The main aim of report is to cover description of client, business activities and processes of client and feature of software for business activities. It also covers ERP software vendor, packages and suitability of most important packages.
Provide a description of your client and its business activities
The client selected for report is Westpac Banking Corporation which was founded on 8th April, 1817 headquarters at Sydney, Australia (Capilla, Carrión and Alameda-Hernandez, 2016). It is Australian financial services as well as bank providers and regarded as one of the big four bank as well as first oldest banking institution. Westpac has approx 14 million customers and employed 40,000 people operating at worldwide level and providing services to their customers. It is operating in different number of locations having 1,204 branches and 3222 ATMs.
Westpac Banks provide different category of banking as well as financial service in market such as consumer, institutional banking, business, wealth management services. Main vision is to become best service companies, assisting consumers, communities and people for growing at marketplace. Respective organisation has four key customer facing divisions such as:
Consumer- Liable for service as well as service to consumers
Westpac Institutional Bank (WIB)- Delivering different category of financial goods and services to government, corporate and institutional in connection with New Zealand and Australia.
Business- Liable for services as well as sales to small to medium, micro enterprises, commercial business and others.
Westpac New Zealand- Liable for selling and providing of services to wealth, banking and insurance products to customers (Dee and Wyckoff, 2015).
Apart from above, other divisions include: treasury, core support and group technology.
Discuss the key business processes for your client
It is important to understand key business process of Westpac Banking Corporation. Processes are divided as per activities provided by them to their customers at marketplace (dos Santos, Costa and Nogueira, 2015). Different activities includes finance & insurance, corporate banking, investment management, private equity, credit cards, mortgages, global wealth management, investment banking, consumer banking. In order to carry out such activities, process includes following: lending operations at personal, business, security, accounting of customers, cheque processing, account maintenance, cash handling, payment processing and others.
2. Systems requirements
Outline software features and functionalities that your client should consider to support its business activities
In order to support business activities, it is very important for Westpac to use proper software so that high results are attained (Duy and et. al., 2015). Here, Westpac is making team with UK based cloud native banking software technology that provides more than 10x SuperCore Trademark time’s better way to build digital banking as service platform. It has created new opportunities for business in order to serve bank as well as industry clients to serve their customers. This software provides Westpac with minority shareholding as well as coming from National Building Society, which is regarded as largest building society in world (Westpac selects 10x for new approach to banking in Australia, 2020). Westpac is regarded as first Australian banking market to come up with 10x technology.
According to CEO of Westpac, they are preparing digital future through investing in new market of digital only through banking platform which will complement to existing businesses of banking. This will assist in operating bank as a service model for bringing new technologies to market with help of partners.
The main features of 10x SuperCore is to power platform that configured to each other and help client in quick, easy and automatic manner (Gao and et. al., 2017). This helps in lowering cost and upgrading existing systems. Unique service oriented architectures possess set of open as well as channel agnostic APIs and so on. This technology has supported business activities of Westpac to conduct their operations in appropriate manner and attain maximum outcomes. There are different types of business activities that have conducted by respective organisation which are made easy and time saving by applying technology in their business.
The functionalities of 10x SuperCore is transforming banking to next generation with use of cloud native technology platform and enabling clients for engaging their customers through time, relevancy, personalised experience for managing money. Main functions are to make work easy and simple and working as per norms and values of business in appropriate manner.
Therefore, these above mentioned are main features as well as functionalities in order to support client for supporting business activities and operations in proper manner. The technology used by Westpac is 10x SuperCore making work very easy and simple for customer to provide them with adequate facilities and opportunities.
3. Software selection
Visit websites of at least three (3) ERP software vendors and provide a brief description of each vendor and its products
It is important to analyse different types of ER software by business while implementing in organisation (Kaganski and et. al., 2017). Cost incurred for ERP software is very high for organisation so it has to evaluate in proper way to reach to final conclusion in appropriate manner.
|Description of Vendor||It is ERP software vendor which works for large enterprise across worldwide nations. With these solutions it can set longest duration for implementing and building need and requirements of consumers in appropriate manner (Luthra and et. al., 2017).||Oracle has made mark at global scale. It is regarded as platform which is set of complex of applications which is using for advanced as well as basic ways. The acquiring of NetSuite is developing as well as offering add on advanced functions through help of oracle product and providing benefits to market presence.||With the help of capital management features and focus financial management, it is possible for Workday solution to grow though end to end ERP. It is regarded as cloud based software vendor which mainly focus on financial management applications as well as capital management (Memon, Lee and Mari, 2015).|
|Product||SAP focus on different types of products such as enterprise, business software, industry software, software for small as well as medium business, platforms and so on. For example, SAP ERP, SAP Analytics, SAP for Retail, SAP Anywhere and others.||This mainly focuses on providing different products such as professional service automation, incentive management, e-commerce solution, ERP-nonprofits, services resources planning, CRM and so on.||There are various types of Workday Products such as Workday HCM, Workday Financial Management, Workday Benefits, Workday Students, Workday Recruiting and many more (Noh, Jo and Lee, 2015).|
Therefore, apart from above, there are different types of ERP software vendor which provide different types of software packages and tools to company to implement in business and attain maximum goal and objectives and attain best outcomes.
Compare and contrast features/functionalities of three ERP software packages offered by vendors
It is very important to analyse features as well as functionalities of ERP software packages that are offered by Vendor for making decisions so that best results are attained. They are as follows:
|ERP Software Packages||Features/Functionalities|
|SAP ERP||This is regarded as enterprise management platform which mainly focus on possessing all types of capabilities of supply chain management, human capital management, financial management, customer relationship solutions (Raman and et. al., 2017). This is deployed as Saas service, on premise or hybrid model. SAP ERP has different features such as monitoring human costs, process of invoices, recording external employees services, maintains planning as well as progress, collecting data plans as well as sheets, confirming service management orders and others. This is highly used software ERP by business as it provide various benefits to people in appropriate manner.|
|Oracle ERP Cloud||Oracle ERP is regarded as end to end solution for business management (Scheepens and et. al., 2015). This has designed for all sizes of business. There are different features of Oracle ERP cloud such as financial planning & analysis, accounting, management of order, managing risk, enterprise performance management, revenue recognition, procurement, product lifecycle and so on. Apart from these, other benefits are continuing product to support investment, accessing to multibillion dollar in terms of oracle research & development, customer driven innovation, proving upgrading methodologies and so on.|
|SAP Business One||This is regarded as business management software ERP that is mainly designed for both small as well as medium business (Sugiyarti and et. al., 2018). It is regarded as solution which has aims in automating key business functions in terms of operations, human resources and finance. There are various benefits of SAP business one which are as follows:|
Increase Revenue: This software helps in making easy as well as fast to real time information which aid at any time to identify new types of sales opportunities, bringing new products and building customer support.
Reducing Cost: Such software leads to reduce cost for maintaining system in compatibility when adding new functions to business. This will helps in adding outperform competitors.
Apart from above, other benefits of respective software are running business with one management solution, maintaining IT solution for growing and many more.
Identify the most suitable vendor and ERP software package for your client and explain why it is the best option
This is the last stage where selection of software should be performed in best manner so that business could attain success and growth (Yazdani and Payam, 2015). The client is Westpac Banking Corporation which needs to select best software for their banking business and run their activities and operations in suitable manner.
There are different types of vendor which are dealing in ERP software having their own products and services. All these vendors are different from one another and provide software as per need and requirements in appropriate manner. The suitable vendor for Westpac is SAP which has various products and software. It considers need of all business, industry, retail, banking and many more and providing various options to them to choose right software as required to them.
There are different types of ERP software package for clients and business. It includes, SAP, oracle, Suite and many more (Zahra and et. al., 2015). It is very important to select best option out of many. In case of Westpac Banking Corporation, it has selected SAP ERP software package for their business to run their activities and operations in diligent manner. This is regarded as best option for respective organisation due to several reasons. It is working for different purposes such as possessing capabilities of SCM, HRM, CRM and many more for their people. This software package is mainly designed in order to support as well as integrate each and every functional areas of business process like sales and distribution, manufacturing, accounting, finance and many more. In case of banking, SAP ERP software provide current release highlights in terms of enhancement of financial products, new solutions for management of card as well as syndicated loans, online and providing mobile solutions along with retail banking. It also helps in new cloud offer to transactional banking, SAP transactions and so on.
It also provide benefits for banking in terms of upcoming innovation where integrated financial services at data platform with help of financial product sub-ledger, end cloud solutions for banking and so on. In addition to this, it is also providing future plans which helps in combining operations as well as experience data for understanding what and why. The software leads to provide co-innovations in terms of virtual cards, virtual accounts and so on.
The report concluded that it is very important for organisation to implement Enterprise Resource Planning in appropriate manner so that best results are attained. The organisation selected for report is Westpac which is regarded as banking industry and providing different types of business activities in terms of finance, customer service and treasury and so on. For carrying out all these activities, it is very important to follow process of legal, auditing, services and so on. Business has adopted 10 X SuperCore technologies for running their activities and operations in appropriate manner and providing all types of services to customers in best manner. This is also important to select software for business and attain results. Here, software vendors are analysed such as SAP, oracle, workday and so on having different products and service to customer. All these have variety of products for their people and lead to attain maximum results. Software package includes oracle, SAP ERP and SAP business core. In addition to this, business has selected SAP ERP for business due tom large numbers of features and attaining maximum results.