Management Information System
A Management Information System (MIS) is a broadly applied and used term for a three-resource system required for effective organization management. Its objective is to design and practice procedures, processes, and routines that provide suitably detailed reports in a consistent, accurate, and timely manner. The resources are information, technology and people, from outside and inside an organization, with top priority given to “people.” This data is then processed, imploded, and stored in a centralized database or data warehouse where it is constantly updated and made available to all who have the authority to access it, in a form that suits their purpose. The “System” is a collection of information management methods involving computer software and hardware or otherwise improving and supporting the quality and efficiency of business operations and human decision making.
Public Bank uses MIS to search the data and help to minimize error data. Data collection is selecting collected data such as name, gender, birth date, address, etc. Data processing is transform into indicators, which reflect program performance and outcomes and which provide valuable information about the program to decision makers. To ensure the value of the MIS, data must be verified, validated, and updated regularly. Information management is data have been transformed into useful indication, the information can be used for program supervision, control and accountability, and monitoring and evaluation. Systems are needed to ensure quality and security of information flow. Dissemination. Data are disseminated in various formats and for different audiences like monthly financial statements.
Transaction Processing System
Transaction Processing System is a type of information processing system, hardware and software combination, which supports Transaction processing. A transaction processing system collects and stores data about transactions and sometimes controls decisions made as part of a transaction. The bank’s transaction system is the activity that changes stored data, examples of such an activity would be making a cash withdrawal at an ATM or using a credit card.
Online banking is a excellent example of transaction processing system in the Public Bank. Online banking allows customers of its customers to carry on financial transaction on a secured website operated by Public Bank, which can be a retail bank, virtual bank, building society or credit union. Customers can use online banking to pay bill. It can helps customers save money and time when paying bills. Online bank also offer the convenience of checking customers’ account information from their cell phone. Check their balance by SMS or receive alerts when money is withdrawn or a check clears.
Later on, Public Bank also implements real time transaction processing as the immediate processing of data with the database update as the transaction is being carried out. For example, when a customer withdraws a sum of money from his or her account the transactions are processed and the account balance updated as soon as possible, allowing both the customer and bank to keep track of funds.
Enterprise Resource Planning System
Enterprise Resource Planning (EPR) System is the integration and management of external and internal information across an entire organization- embracing finance, manufacturing, service and sale, human resource management, customer relationship management. Enterprise Resource Planning is also the seamless information flow and integration among various sectors or sections of banking industry. It is the automatically of business workflow. The purpose of ERP is facilitate the flow of information between all business functions inside the boundaries of the organization and manage the connections to outside stakeholders.
An ERP system offers wide –ranging integration between different banking system modules. Public Bank uses ERP to integrates user, information, processes, and applications for higher productivity. It facilitates decision making with simulations for enhanced responsiveness and change.
Next, ERP system offers facility of sharing bank processes with vendor, customers, and other partners for optimum use of bank assets. Public Bank use ERP to combines planning, report and analysis of all bank assets in one process. ERP for banking solutions make available on one platform a widespread variety of functions, numerous industry-specific features, a wide collection of augmentation option, and support for bank assets. ERP system is essentially multi currency, module based, multi linguistic, multi user and multi-firm in operation. It provides online support, online trading and generate online manuals. In banks it can be integrated with all financial system and back-office system.
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