INFORMATION SYSTEM REQUIREMENTS

Information System Requirements

[Name of the Institute]

Table of Contents

Assessment 22135A/013

Part 13

HSBC's Core Business3

Industry4

Employees4

Information System in HSBC5

Part 25

Information System User Requirements5

Hardware and Software Requirements of the Company7

Uses and Handling of Accounting Information8

Policies and Procedures Relating to Information Systems9

Assessment 22135A/0210

Part 110

Internal Control system10

Administrative/preventive internal control10

A Financial Control10

Operational Control11

Principles, procedures and Processes11

Process Step11

Procedures12

Strengths and Weaknesses of Organizational Process12

Strategies to Address13

The Appropriate Use of Resources13

Ways to Monitor Costs14

Reducing operating costs14

Cost Estimation14

Cost Benefit Analysis15

Cost Control15

Achievement and Maintenance Of Professional Accounting Standards16

Schedule17

Part 219

References21

Information System Requirements

Assessment 22135A/01

Part 1

A management information system is a computerized technical information system. The management information system is engaged with the principles of business management; this is more business-oriented system. It deals with designing, building, and management of information systems. It is concerned with the data processing into the information. After transmuting into the information, it is then communicated to different departments of an organization for suitable decision making. The collection of data includes the utilization of information technology, which comprises PC and telecommunications networks. Computers are vital for quantitative data collection than qualitative (Boulianne, 2009, pp.229-244).

HSBC's Core Business

The HSBC Bank (HSBC Holdings plc), according to the CNN Global 500 list in 2011, is the 46th largest company in the world. The total assets of the company amounted to U.S. dollars 2.556 trillion at the end of 2011. The profit before tax in 2011 was U.S. dollars 16.797 billion. By market capitalization in 2011 of € 102.72 billion, it is the largest bank in Europe.

The Hong Kong and Shanghai Banking Corporation formed an institution in 1865, which formed the basis of HSBC. Founding shareholder at that time was the German private bank Joh Berenberg, Gossler & Co., which teamed up with other business people, to finance the growing international trade between Europe, China and the United States. The first Board of Directors of HSBC was composed of British, German, Swiss, Persian and American businessmen. In the period of German business interests had significant influence on the development of the bank, which is reflected among other things, by two German businessmen, who then sat on the Executive Board for many years.

Industry

At present, the banking industry is facing many challenges that include globalization, competition of capital deposit, loans, increasing customer demands and profit margin. In this challenging business environment, the quality service is the fundamental goal for most of the retail banks while customer satisfaction and loyalty are the main concerns of it. Effective analyses of customer journey mapping can help a company to compete with competitors, acquire customer satisfaction, loyalty and retain profit (Keller, 2008, 12-19).

HSBC has adopted the customer relationship management system in order to enhance the customer satisfaction. It is more likely that HSBC is evolving new policies in the banking system by making innovations in the current customer management system that challenges its competitors. Effective analysis of customer experience is an opportunity for the retail banks to rebound customer beliefs and create long term competitive differentiation

Employees

The company has a total of 285,000 employees, who belongs to various ...