A detailed report on a proposal for an Information System that will streamline the account set up process for new Key Accounts in an Online Payment Company called PayPal
1. The Introduction
The following report details a proposal for setting up a new Information System for an online payment company called PayPal. The new system will enable business customers to upload requested documentation online when applying for their accounts, and because everything will be uploaded in a centralised area this will also allow internal PayPal stakeholders to access the information simultaneously.
PayPal is a system which customers can use to pay electronically and securely for goods over the Internet. Small, medium and corporate businesses can use PayPal as a way to get paid for their products on their web sites.
Because PayPal has a banking license, businesses that wish to use PayPal must apply for a PayPal account and provide various types of company documentation such as, certificate of incorporation, articles of association and memorandum of association. This documentation must be provided for verification purposes in accordance with PayPal’s regulatory body. There are many internal departments or stakeholders within PayPal that need to be involved in the account set up and verification process.
At present business customers have to provide PayPal with hard copies of their company documents, copies of which are then stored manually in filing cabinets, and can only be accessed by one internal stakeholder at a time. Therefore, as a result, the account set up process for Business Accounts is inefficient and relies too heavily on paper-based applications and manual filing systems. A defined, streamlined structure is required so as to accommodate efficient and coherent communication and process functionality amongst internal stakeholders.
The following chart demonstrates how internal stakeholders can access the account information simultaneously if the new system is put in place.
1. The Rationale
Information Systems should inform people. When planning and developing this new system it is important to keep this important objective in mind. By informing, the information system will assist the users to make intelligent decisions based on relevant information which will also be derived in turn from reliable data that has been checked by authorised stakeholders (Bell and Wood-Harper 2003, p.7)
If PayPal wishes to remain effective in the extremely competitive environment of the online payment industry they will need to have access to excellent information on their customers, on the work their internal departments are doing and on the financial consequences of their decisions. This new information system will help them greatly with these objectives. This information system will also enable PayPal employees from the whole organisation to access information immediately and provide them with a picture of the customer’s total relationship with PayPal. (Kaplan and Norton 1998, p. 134).
3. The Current Situation
Firstly, research is done on exactly how the current system works by carrying out the following tasks.
Talking to the people who work with the system.
Asking users to answer some questionnaires about how good/bad the current system is. Observing how people use the system.
After the initial research on the existing system is completed various studies and analysis can take place before making the final decision on whether the new system can be implemented or not.
4. The Strategy
There can be risks and uncertainties in systems development, but once thorough analysis and research has been carried out it should be straight forward in determining if the new system and business process will have a positive strategic impact. Once the system is implemented we will be able to assess the benefits. Tangible benefits can be quantified in the short term and the intangible benefits may lead to long term...