Decision-makers first need to determine whether to invest in an intranet. To evaluate whether an intranet program would fit into a bank, a bank should address the following questions:
* Does the organization significantly produce, distribute, and update paper-based documents?
* Do employees often need to consolidate information from different places or sources?
* Does the organization require communication between people who are geographically dispersed?
* Are employees often required to research information to complete a task?
* Is the organization committed to a comprehensive reengineering project?
* Does the organization have the resources to implement and manage a significant technological project?
Commitment and resources are key components of a successful project. The intranet needs sufficient resources to complete the project judiciously and maintain its integrity. The bank must answer affirmatively to the above questions related to these factors for a successful intranet project. Decision makers should consider that some results are intangible and difficult to quantify.
There are obvious costs, such as buying a server, if necessary, and hiring an intranet development firm to establish the system. Other costs include training, initial input of forms and data, work process reengineering, and work time reallocated to the project during its initial phase. Gauging the returns on an intranet investment can also be complex, particularly as they multiply based on how well utilized the system becomes within the bank. If used effectively, work productivity increases into the foreseeable future. Many paper-based processes will be eliminated or condensed, which eventually allows the bank to reallocate resources into sales and customer-related activities. And, the bank will have enhanced internal communications and centralized operations.
"The interest spread for banks is continually shrinking with increased competition, thus the banks' profits are being squeezed meaning that they all will have to look hard at their internal efficiency to remain viable," states David Koto, Executive Vice President at Brintech. "The intranet is a vehicle that will allow them to operate more efficiently with less personnel."
* Does the organization significantly produce, distribute, and update paper-based documents?
* Do employees often need to consolidate information from different places or sources?
* Does the organization require communication between people who are geographically dispersed?
* Are employees often required to research information to complete a task?
* Is the organization committed to a comprehensive reengineering project?
* Does the organization have the resources to implement and manage a significant technological project?
Commitment and resources are key components of a successful project. The intranet needs sufficient resources to complete the project judiciously and maintain its integrity. The bank must answer affirmatively to the above questions related to these factors for a successful intranet project. Decision makers should consider that some results are intangible and difficult to quantify.
There are obvious costs, such as buying a server, if necessary, and hiring an intranet development firm to establish the system. Other costs include training, initial input of forms and data, work process reengineering, and work time reallocated to the project during its initial phase. Gauging the returns on an intranet investment can also be complex, particularly as they multiply based on how well utilized the system becomes within the bank. If used effectively, work productivity increases into the foreseeable future. Many paper-based processes will be eliminated or condensed, which eventually allows the bank to reallocate resources into sales and customer-related activities. And, the bank will have enhanced internal communications and centralized operations.
"The interest spread for banks is continually shrinking with increased competition, thus the banks' profits are being squeezed meaning that they all will have to look hard at their internal efficiency to remain viable," states David Koto, Executive Vice President at Brintech. "The intranet is a vehicle that will allow them to operate more efficiently with less personnel."
0 comments:
Post a Comment