Technology Solution to a Business Problem Subject of Course Project Advanced technology is proved to be beneficial for organizations and business more than ever before, it helped in bringing business close. It assisted in each and every aspect of business from making team of best employees, to booking order, delivery of products and their support. We need to use advanced technology in order to help business needs of an organization or use specific technology to solve a business related issue for an organization.
Business problem statement Our target company is facing an issue related to its financial conditions, company is determine to use technology in order to stable its financial. This company need a single software using cloud computing for its employees to work from home and for communication purposes. Company want to provide a healthy environment for working and allowing its employees to use advance technology which is efficient and could help employees to communicate each other, no one outside of company should be able to view their communications or company data.
Name of the company or organization Tenements is a multinational banking software systems (TTT) Provider Company, it has TTS clients in 125 countries around the world and employees in more than 50 countries. It is one of the leading organization specialized in the field of banking software solution and support. General benefits it will provide the organization We need to develop a cloud technology based software that will enable our target company to communicate with employees worldwide and allowing them to work from home resulting in reduction in company cost of operations.
This project will be a cost effective solution to the business needs of our target company by using advance technology. This technology in broader view if applied in more organizations can also benefit economy of our country. High level approach The approach behind this project is to help our target company by using latest software techniques such as cloud computing and remote access. The access control and centralized server are essential part of this software system.
This software will use browser as an interface to login into main server. Centralized server is connected to servers in client sites worldwide. A Client authentication layer is used to allow access to any server. Audience asked students of technology to help in meeting business issues. Technical details does not required in this project as management need to Just understand the concept and benefits of technology to resolve financial issues faced by their company.
Table of Contents Abstract 5 Introduction 6 Company background 6 Discussion of business problem 7 High level solution 8 Benefit of using Remote Access Software with cloud computing Business/Technical approach 10 Business process changes 12 Technology used to augment the solution 13 Conclusions and overall recommendations 15 High-level implementation plan 16 Project Summary 16 Bibliography 18 Abstract 9 Using IT Technology through software is the ultimate way to future. In future software could be used for reading minds, accessing disabilities and diagnosing any diseases.
It can also be used to fresh up minds or make minds more relax through any programs that can access to human brain and read it. Software technology will not only benefit us as individual but it will also benefit our business. IT technology is already at high level that now we can think of anything which was impossible in the past. This technology is already giving us a dream world where we can watch Live sews Live sports, can connect to any friend; can talk them while been away. Technology has no limitations, it can do anything or at least we can assume that it is capable of doing anything by time.
As now we can see that IT technology is very helpful in our daily life, the questions is that is it also helpful in our business and if it is then which technology will be best? In this case we will focus on using software technology to assist a specific company in its operation while reducing expenses and making this company more profitable. We will focus on branch less office as software re helping us to connect with each other and allowing us to access remotely. This remote access could be used with cloud computing which can result in a combination of services provided to remote servers without traveling on site.
Introduction World is now changing every day, things which were miracle in history are now a part of our daily life, technology will be more unpredictable in future. In past there were days when money in banks was handled by Just paperwork and as the number of customers and giving them good service in time. Technology made it possible and owe only in US more than 50% financial transactions are E-payments and no paper work is done to transfer money from one end to another. This is modern technology which is helping us to get ourselves meet with the challenges of future.
Our thesis statement is “Technology Just a way of helping business or it could help in financial crises of an organization? ” Company background Tenements (Banking Software Systems Company) Tenements is a banking software provider company, it was founded in year 1993. It is listed in Swiss Stock exchange. This company is a leading provider in banking software with its own database called ‘Sybase’. Company headquartered is in Geneva and it have more than 50 offices worldwide. The banking software system provided by Tenements is named as TTT system as it allow banks to perform transactions 24 hours in a day.
Tenements has over 1,500 clients in 125 countries around the world. TTT is ranked as first or second amongst the bestselling banking systems in last decade. Company’s clients are more profitable than any other banking software systems as these client get on average 30 percent higher returns than their competitors which makes this company as a leading banking software system and solution provider. To support its operations worldwide company have its employees around the world which helps running its operation smoothly and provide support to its client on client sites.
Company has also setup its help desk in Achaean (India) which provide support around the clock to its customers. Help desk has a call center and an issue management system to track and solve each issue. Tenements invest around 25 percent of its revenue to research and development in order to improve its core banking system and it make a new advanced version often each year in order to help its clients to meet new challenges and practice in banking and finance industry. Discussion of business problem We need to use technology to solve issue to our target company, the question is that what are issues faced by our target company?
Tenements has successfully manage its operation in past several years that resulted in a satisfied customer base. Its customer have crossed 1 500 figure which shows the strength of company software system and work load for providing support to these customer. Company strength in terms of number of employee is very strong but due to financial crises faced by financial organizations worldwide especially in banking industry, lead financial organizations to reduce their budgets and these organizations are not investing to buy new software systems or upgrade their existing software.
This in overall resulted in a slow market for our company. Our target company need to rethink about its operational cost and go for other options like cost cutting or making feasible its operation to survive in this crises. Company is paying healthy salaries and other expenses to its consultant worldwide which includes traveling across globe, hotels and per deems, as company need to provide worldwide support for its banking expenses and other major expenses include operational cost in form of rent for office buildings and utilities bills.
Company have two options to deal with this issue, one to reduce their staff, second to choose any other way to reduce their expenses. Reducing employees in these hard time look like better option and could benefit financial condition directly but MD of company has decided to keep his staff and he want to go for second options and want advanced technology to help in reducing expenses. Now company is looking for a better solution to reduce their traveling cost ND other expenses. High level solution Technological change is needful in every business.
Business can only meet the challenges of present and future by the help of technology. If any organization wants success in its operations then it should make itself adoptable to any change, Information technology is changing and helping more business day by day. Information technology brought change in our business and helping us with integration, standardization, simplification and modularity. By applying these properties business can meet the satisfaction of their customers. Shift of technology s occurring from mechanical devices to electrical and from electrical to electronics and from electronics to software.
For understanding this concept a simple examples would be locks which were in past made of mechanical instruments then electrical locks came into market which has mechanical parts but were electrically handled then electronics locks are available and now the most advanced locks at financial institutions validate user through the help of a software by eye scan or thumb scanning, it is verified by a software through image processing which uses electronics, electrical and mechanical instruments to open lock.
This is the fact that the technology which is leading change in today world is software technology, it is advancing rapidly and helping business. Our company Tenements need an advanced software system to coordinate with its employees and help employees to work worldwide without traveling hence reducing cost for the company. This software should be secure from any internal or external attacks and it should provide a remote access to company data base as well as to its clients worldwide. This software need to use cloud computing in order to make a well-organized network amongst all clients and company.
An advanced software having capable of remote access through browser interface should be develop. This software has browser based user interface, employees can use this software through internet connection at home or anywhere. A centralized server is used as a base for all connections around the world; this server can provide access to other client server. (Dawn) A Remote access involve a group of two or more systems, connected to a network that securely communicates over a public network (the Internet).
Remote access may exist between a PC at home and private network, or a remote local area network and riveter network. In either case all connection should route from a main server so that security could not be compromised for our company. Office building as all employees will working from home. There will be a reduction in rental cost for employer, it will also reduce office expensive in term of furniture, furnishing. Less financial burden of utility bills (electricity, internet etc. ) this technology is helpful for the company in reducing its expenses up to 20 percent. – Employee’s satisfactions as they feel good and are Just nearby their families. Employees can help their families in case of emergency etc. – Less expenses on paper work, it will also fasten the working as all communications will be through emails with the help of our remote access software. 4- Traveling time and cost saving which is good for both employee and employer, while in same city some employees needs to travel more than two hours to get to their offices, some employees need to travel outside of country in order to provide support to clients around the world. – More productivity as employees are not tired by traveling and employees can save their traveling expense and traveling time. 6- Company can et employees from other countries and get good minds with lower pay scales which will also help to reduce heavy salary expenses. 7- 24 hours productivity due to time difference between different regions of world as employees and clients both exists worldwide.
Business/Technical approach 1- First of all we need to build a Remote Access Software which could reduce our company expenses and fulfill our future needs, this software should be capable of giving us * Main resources for communication, we can use it to communicate to all employees and clients by using cloud computing technology. For most of consultants of our company meetings with client is essential part of Job description, for this purpose our software should provide audio and video conferencing options. Chatting option should be included for employees so they could take assistance in resolving any issue. * Soft copies of documents could easily send through attachments. * This software should encrypt all information and documents before sending to any end. 2- Company should have administrators for at least three time zones so that company can work without day and night timing difference. – Cloud computing technology should be used in centralized server for easy and quick response to its users. – This software should be compatible with Phone and other mobile devices, if any employee needs to travel and meet any client at its location, it should use access to our remote access software with the help of mobile device using browser, so company management can directly coordinate with him while traveling or on client site. (DRP. Line and Pang) A Remote access connection helps us in extending boundaries of our physical network. Resources that access to a remote server can identically access to all resources of that server network and it look like as if they are physically connected.
This will allows for our consultants, offshore support and external vendors to connect to a corporate network while on any place on earth, perform their work remotely. Number of concurrent remote connections is limited by the bandwidth of public network. Technically this software will be installed only on a where an authentication is required. After authentication cloud computing technology is used to connect all client servers around the world and give access to particular server for operations.
All servers on which Tenements has implemented its banking software need to deploy this remote access software with a link to centralized server. A precaution should be taken while deploying our remote access software on client server which is that this software should not access to database layer, financial data of client organization should not be accessed, only application layer should be allowed to accessed through remote access software and should be used to fix bugs in case of any issues.
Another authorization layer should be implemented on each client server so that accessing any client server will only be Seibel by authentication by client. Activity logs should be maintain on client servers to develop more trust amongst the client and company. (Smooth and Tan) Business process changes This technology is different from today in terms of working environment and we need to use technology in such way that it will benefit our company by reducing its operational cost.
We will develop a remote access software which could help our company employees to sit at home and work for the company. This is the innovative way of doing business and can fulfill the needs of our company, it will help our many to meet with the critical financial conditions. This will change our business process as we will be coordinating to clients around the world through virtual access and cloud computing, using cloud computing will be a beneficial step for our company.
Company need to change its business processes in such a way that it should use advance technology for its operation and coordination with its consultants and clients. In case of any deployment of software at client side on client server, this software do not need to be installed on every PC as it runs through rouser interface with a login authentication, this will provide access of server to a specific company employee and a log of each and every step should be maintain by this software so in case of any security breach I. T admit or management can trace down the issue.
Management and team leads should have access to view all activities performed by remote access software without interrupting any session. Security of remote software access should be implemented in such manner that employees can login only through specific devices which are register with software on centralized server. In case of any device is lost or theft an immediate report by the employees is required through email so that access to that particular device can be denied. Access rights to client server should be based on employee responsibilities. Arbitrary) Technology used to augment the solution Globally access to clients of our company with the help of remote access software and cloud computing will be a great benefit for the company as company will have all communication through one channel. This software will help in personal security of employees as they work mostly from home. This software will encrypt any official comments from the sender side and at receiver end it will decrypt. With the help of remote access and cloud computing company could run its operations worldwide 24 nights due to time difference in different regions.
Ladies will be more comfortable to work for company as they are able to take care of children while working. Less stress for employee as they are more relax while working from home, this factor will lead to more productivity, this will help company to reduce its expenses and move towards profitability. Accessing technology for the purpose of office free organization is a refers use of technology and it will fit perfectly for our company. Our remote access software will create more efficient working environments for all employees and will eventually benefit employer.
The use of remote access software and cloud computing technologies will create a society where peoples have more time for their families this will benefit social life of employees. Management access control policy should be implemented to control access properties of each employee as per his designation. Risk mitigation strategies needed to be implemented in the development of our emote access software so that it could be more secure and productive. The Password policy needed to be implemented to control user password selection by defining mask and other properties of the password.
Password policy must enforces following conditions * Whether user ID and password could be same * Maximum use of consecutive characters in password. * Lifetime of passwords. * Number of alphabetic characters. * Lower case and upper case number of letters * Number of numeric characters. * Length of password. * Whether user’s can use any previous password. (Opaque) Conclusions and overall recommendations This company is a leading provider of banking software, it software system is considered as one of the best across the global but this company have not benefited its operation and HER with the help of advance technology.
Our target company Tenements can handle this bad financial situation with the help of our software technology which will result helping company financial by reducing its operational costs. This company need to use our defined remote access software which could help not only securing Jobs for the employees but it will also make a healthy environment for the employees. Company need to hire consultant from different areas around the world to provide support at client site, for this purpose company need to use our remote access software with cloud computing to make a central medium of communication for its employees.
Securing access to our software will help company to work without any threats from hackers or any misuse by employee. This technology can also be used by other organizations which will in large benefit our country as it will decrease in import bill by reducing crude oil imports as transportation will be lesser used for coming to office which will help governments to divert this money to public development projects.
High-level implementation plan The issues related to company is financial and can be cater through assists employees to work from home and save their traveling time and cost, this will also benefit the company to reduce its expenses as there will be no need for large office building or traveling across globe. Employees will be providing support, communicating each other and sending documents through cloud computing which is access through highly efficient remote access software. This software will use cloud computing technology to give access to data and other resources.