Examine the strategic value of information systems in a Collection organisation.

Essay by infosysUniversity, Bachelor's October 2006

download word file, 3 pages 5.0

Collections Unit collects all the defaulted loans. The business objective obviously involves CRM systems to improve services to collect, negotiate and create the circumstances within which problem debt solutions can be successfully resolved with the aim of:

- Meeting budget goal

- Maximizing manpower

- Service improvement

- More effective management

Business Structure

The Collections Unit comprises of:

1. A team of about 80 Collection Officers - they are frontline people to contact and locate debtors who are owing to our clients.

2. Five Collection Supervisors who cover the work including officer lists and maintenance, account distribution and summary of payments by account.

3. Three Accounting Officers who deals with accounts establishment, adjustments, payments and reversals.

4. One Approval Manager who plays the role of approval of financial transactions, judgments, revisions, remissions and write-offs.

5. A pool of supporting staff to deal with daily administrative services.

Structural Alignment between Information Systems and the Collection Unit

An online accounts receivable system called ARS (Accounts Receivable System) is modified.

The ARS system improves unit's ability to manage and recover its receivables by providing a consolidated tool that will serve the needs of its clients. ARS is housed in the Ontario Information Technology Centre and provides online and update capabilities from anywhere in the country.

The system is an online accounting and recovery unit, featuring:

- The ability to establish and adjust accounts online.

- The ability to create client accounts and record notes online.

- Functionality for the calculation of interest.

- A monthly statement of account and automated letter production.

- Comprehensive status judgment.

- On-line statistics

Problems of Current Information System

ARS is an Enterprise Application System (ERP)dealing with accounts receivable financial function. Due to the complexity of each departments and privacy of taxpayers' information, ARS is one of...