System re-engineering kasb Securities Ltd
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The document discusses the principles and objectives of system re-engineering, focusing on its significance in improving business processes through technology and organizational changes. It outlines the stages of project implementation and emphasizes the importance of customer service, process efficiency, and continuous innovation. Additionally, the document provides an overview of Kasb Group's operations in the financial services sector, highlighting their competitive advantages and the need for further employee training to optimize their newly upgraded systems.
System re-engineering kasb Securities Ltd
- 1. System Re-Engineering On Shehroz Ahmed Adil – Unbreen Munir – Javeria Salam
- 2. Content About System Re-Engineering a. Description b. Objectives c. Methodology Company profile Survey analysis of company Recommendation Conclusion
- 3. What is system re-engineering? DESCRIPTION Business Process Reengineering involves changes in structures and in processes within the business environment. The entire technological, human, and organizational dimensions may be changed in BPR. Information Technology plays a major role in Business Process Reengineering as it provides office automation; it allows the business to be conducted in different locations, provides flexibility in manufacturing, permits quicker delivery to customers and supports rapid and paperless transactions. In general it allows an efficient and effective change in the manner in which work is performed.
- 4. What is the Business Process Re-engineering? The globalization of the economy and the liberalization of the trade markets have formulated new conditions in the market place which are characterized by instability and intensive competition in the business environment. Competition is continuously increasing with respect to price, quality and selection, service and promptness of delivery. Removal of barriers, international cooperation, technological innovations cause competition to intensify. All these changes impose the need for organizational transformation, where the entire processes, organization climate and organization structure are changed. Hammer and Champy provide the following definitions: Reengineering is the fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical contemporary measures of performance such as cost, quality, service and speed. Process is a structured, measured set of activities designed to produce a specified output for a particular customer or market. It implies a strong emphasis on how work is done within an organization. "(Davenport 1993).
- 5. 2 Objectives of System Re-Engineering When applying the SR management technique to a business organization the implementation team effort is focused on the following objectives: • Customer focus. • Customer service • Oriented processes aiming to eliminate customer complaints. The above given objectives are achieved through bond of components as a unit through certain stages which are all described ahead: Speed: Dramatic compression of the time it takes to complete a task for key business processes. For instance, if process before SR had an average cycle time 5 hours, after SR the average cycle time should be cut down to half an hour. Compression: Cutting major tasks of cost and capital, throughout the value chain. Organizing the processes a company develops transparency throughout the operational level reducing cost. For instance the decision to buy a large amount of raw material at 50% discount is connected to eleven cross checking’s in the organizational structure from cash flow, inventory, to production planning and marketing.This checking’s become easily implemented within the cross-functional teams, optimizing the decision making and cutting operational cost. Flexibility: Adaptive processes and structures to changing conditions and competition. Being closer to the customer the company can develop the awareness mechanisms to rapidly spot the weak points and adapt to new requirements of the market. Quality: Obsession with the superior service and value to the customers. The level of quality is always the same controlled and monitored by the processes, and does not depend mainly on the person, who servicing the customer. Innovation: Leadership through imaginative change providing to organization competitive advantage. Productivity: Improve drastically effectiveness and efficiency.
- 6. Methodology of a SR Project implementation: All methodologies could be divided in general 'model' stages: The Envision stage: the company reviews the existing strategy and business processes and based on that review business processes for improvement are targeted and IT opportunities are identified. The Initiation stage: project teams are assigned, performance goals , project planning and employee notification are set. The Diagnosis stage: documentation of processes and sub-processes takes place in terms of process attributes (activities, resources, communication, roles, IT and costs). The Redesign stage: new process design is developed by devising process design alternatives and through brainstorming and creativity techniques. The Reconstruction stage: management technique changes occur to ensure smooth migration to the new process responsibilities and human resource roles. The Evaluation stage: the new process is monitored to determine if goals are met and examine total quality programs
- 7. WHO WE ARE? KASB Group, established in 1958, has a long-standing tradition of trust and excellence in financial services in Pakistan, specializing primarily in investment banking, research, brokerage, asset management, Islamic finance and commercial banking. KASB Provides its customers access to a broad range of funding, financial and investment products, made possible by the Group's strong network of local and international partnerships.
- 8. MISSION: Excellence in customer service and customer innovation for sustained profitable growth through prudent business practices. Values: Vision Customer Focus and Innovation Attitude Passion and Quest that Drives Us Leadership Sense of Integrity, Trust & Accountability Upright Commitment to Being a Credible Corporate Citizen Excellence Distinction as a Habit Synergy Ability to Harness the Power of Teams
- 9. Our Principles. What sets us apart? KASB is home to Pakistan’s largest online trading platform ‘KASB Direct’ with over 3,500 clients who enjoy access to our award winning research. Sizeable group presence in financial sectors which allows us the opportunity to cross sell products and provide clients with a complete range of services. KASB is the only group offering integrated banking and brokerage solutions to clients. Complete suite of fundamental equity research products generated jointly though KASB and BAS-ML. One of few brokers with daily ‘technical’ research. Daily sales wrap ‘KASB Pakistan Today’ disseminated via Bloomberg is widely read and followed by clients. Local investor seminars in second tier cities to increase awareness about KSE. FIX compliant broker which provides an edge on international business. Overall view is that KASB securities is Pakistan’s Premier brokerage franchise, providing clients with exceptional service, real time market and economic developments and value added, return generating investment insights and recommendations. KASB Securities is one of the oldest and largest pure agency product and services including Equity, Fixed income and Forex sales and Trading as well as secuties and economic research for diversified.
- 10. SURVEY ANALYSIS What were objective of the company behind reengineering system? What were objective of the company behind reengineering system? What are the critical success factors of the project? What achievements are you looking for future? And how well the company is performing? What are the planning for the future?
- 11. Terminologies Most importantly the Head of I.T told us about the software which they have installed in their Organization, The Software have a wide range of server around 250 intra-users as per present situation there are 180-210 maximum intra-users at a time, which shows that to some extent their wont be an urgent upgrade needed for the company as they can extend their employees to 250. The Oracle is produced by Oracle and it’s name is “ORACLE 10G”.
- 12. ORACLE--10G Here are some of the basic functions provided by this software which controlled, maintained and enhanced by the Head of I.T at KASB SECURITIES are as follows:
- 13. Recommendation & Conclusion After the interviews conducted we did surveyed the departments where transactions of their clients were recorded and surprisingly the work was going according to the authorities described the transactions where listed on the software with every single type of it which will be described in the presentation. As far as the employees are concerned they explained that there had been some delays in processing of the transactions sometimes because of errors, as a result we can conclude that those errors were due to lack of training as the system upgraded have been only 2 months old, we recommend that KASB make arrangements for proper training to make their work more efficient and to make their clients more satisfied by their fast and advance services. This big decision to change their entire Traditional way manual system, the decision was very beneficial and will be more effective cost reducing and advance in future as it was being controlled effectively. Oracle 10G has many more functions which were given in the list previously and later on we hope they all are adopted to make the company performance more advance and client attracted. As future upgrade will totally depends on expansion of employees and that would only happen if there will be more work and clients which resolves into one objectives more effective performance and profit earning. The KASB Securities is competitive in the market and should be more effective in future if utilize the available sources wisely.