Fincorp Case Study On Enterprise Architecture
Question
Task:
In this assessment, students are required to write a report. The report covers the topics covered
ULO-2, ULO-5 and ULO-6 from week 1 to week 10 inclusive. The students need to study the lectures
slides and the chapters associated for the weekly lecture along with the tutorial material. The aim of
this report is to assess the students’ understanding of the key concepts of the topics explained from
week 1 to week 10. The report will be submitted to moodle.
Report 2
FinCorp is a mid-size financial company. A couple of years ago FinCorp decided to establish a fullfledged EA practice to accommodate with the growing problems around non-transparency of its IT
investments and poor business and IT alignment in general. In order to boost its EA initiative, the
company decided to purchase a specialized software tool for enterprise architecture. For this purpose,
its IT leaders studied the available offerings on the EA tool market, contacted most promising vendors,
organized meetings with vendor representatives and listened to their presentations. As a result,
FinCorp had selected and acquired a rather powerful and expensive tool for enterprise architecture
from a well-known vendor. Then, the company had installed and configured the tool, established a
central repository for storing architectural information and sent its architecture team to a special
training supplied by the tool vendor. After the training, architects had documented most areas of the
organizational IT landscape and associated business processes in the EA repository and started to
update this information to keep it current. Architects were also impressed with the modeling,
visualization and analytical capabilities offered by their new EA tool.
However, FinCorp’s CIO is pretty skeptical towards the chosen EA tool. He believes that the company
is only wasting money on the tool as it is essentially nothing more than a sophisticated repository of
current-state information. Furthermore, the tool is used by only 4-5 people in the entire organization
(all architects), does not facilitate informed decision-making among business stakeholders in any
sense and does not contribute to achieving the original objectives of the EA initiative to improve
business and IT alignment.
Write a report with 2000 word count that would be presented to FinCorp’s CIO that would address
the CIO concerns on the following:
1. The core concepts of data and information architecture and how the newly implemented EA
is the best option for FinCorp.
2. In your report discuss how the news installed specialized software tool for enterprise
architecture would support continuity plans in the context of EA
3. In your report discuss the role of audit and compliance standards in EA and how the newly
implemented software tool would facilitate informed decision-making among business
stakeholders in FinCorp.
4. Discuss how the newly installed tool would contribute to achieving the original objectives of
the EA initiative to improve business and IT alignment.
Answer
Executive Summary
In this report, the Fincorp case study has been analysed in which an EA tool has been undertaken by the organisation to be implemented that would enable the organisation to store a large amount of data within the organisation. Moreover, the roles of auditing and compliance department in the upliftment and betterment of the performance of the organisation have been discussed and the way through which the software can help various organisations to perform in a better way has also been highlighted. The way in which the organisation would be able to re-implement the objectives of the organisation has also been discussed in this Fincorp case study analysis.
Introduction
In this report, the study of Enterprise Architecture has been done based on a Fincorp case study. The Fincorp case study states that a newly developed software tool would be implemented in the organisation that would enable the architects to perform their tasks in an easier way for the company. This initiative can boost the EA initiative to act based on the current scenario in the system and the tool that would encourage to update the current information. Moreover, in this report, the concepts of data and information architecture are highlighted and how the new EA can be the best option for the organisation of Fincorp has been discussed.
Concepts of Data and Information Architecture
As provided in the Fincorp case study, the collection and movement of data within an organisation are referred to as data architecture. The data architecture also refers to the collection of storage of a huge amount of data within the organisation for the betterment of the business as the collection. Moreover, the proper storage of data would impact the growth of the organisation in the future as the data architecture would enable the organisation to act according to the realization of the essentiality of the target state. On the other hand, information architecture would refer to the individual points in meaningful as well as useful information for the organisation. The architecture of data is important for an organisation like Fincorp to organise and strategize the data. Moreover, the data stored in the organisation is required to be managed by the organisation for the purpose of better platforms for storing the data. As per the readings of Paea and Baird, (2018) considered in the Fincorp case study analysis, information architecture is a set of information that is managed and organized by the organisation for making the organisation function in a much better way. Hence, data and information architecture are the way through which the organisation manages the important data and information within the organisation that can help the organisation to perform in a better way in future.
Understanding the newly implemented EA for Fincorp
The newly implemented EA within the organisation of Fincorp is the best option for the successful operation of architects. This is so because the organisation would be having a various range of activities that can be done very effectively and efficiently with the help of the software. Moreover, the tool has the capability to solve the growing problems that prevail around the non-transparency of the investments done in the IT sector and the business. According to Hansen and Hacks, (2017) in regards to the Fincorp case study, the software of EA that has been used by Fincorp is specialized and specially designed for the Enterprise Architecture of the organisation. A number of vendors were contacted by the organisation who was the most promising ones and hence, in this way the organisation has been able to select the best software tool for its operation as it would also enable the organisation to perform better. On the other hand, each of the vendors was given time for presenting their highly specialized software in the meeting conducted with the vendors. The organisation of Fincorp has been able to select and acquire the most expensive and powerful tool for the EA in its organisation. Therefore, it can be said that the tool having high specification and power to operate for EA has been hired by the organisation and therefore, its implementation is indeed the best option for Fincorp.
Supporting the continuity plans for specialized tool in EA
Continuity plan used in the Fincorp case study refers to the identification of the possible impacts of various disasters in a business. It is a process through which the losses or the negative impacts on a business are dealt and recovered before it takes a hazardous turn for the business. In the organisation of Fincorp, it has thought of expanding the business through implementing a full-fledged practice of EA within the system (Lapalme et al. 2016). Moreover, the organisation has also thought of dealing with the non-transparency of various investments in IT and poor businesses. Therefore, the organisation has implemented the practice of EA within it so that the growing problems related to transparency and business can be dealt and cured for the betterment of the operations of the company in future. The newly implemented tool for EA is highly designed and specialised for the purpose of dealing with the difficulties at various positions of the business. Therefore, the new software has the ability to perform difficult tasks in the organisation. Hence, it can be said in this analysis of Fincorp case study that in this manner the tool of EA can play an important role in supporting the continuity plan for Fincorp.
The tool that has been installed in the organisation has a central repository that enables the organisation to store various architectural information of the organisation and also the investments being made at different levels by the organisation (Huang, 2017). Therefore, it can be said that the organisation would not be able to access various data and information after the details are updated within the system. EA specialisation tool is used for controlling and managing large size data and information in the organisation in which such tools have been installed. Moreover, it would also enable the organisation to understand whether the transparency within the organisation is being maintained to their best or not. However, the investments in information and poor business and other investments in various sectors are required to be recorded in the specialised software so that the organisation would also be able to identify the areas where special interests are required to be given. Therefore, in this way, the new specialized tools of EA would support the organisation to execute the continuity plan by identifying areas that require special support by the organisation. The continuity plan of recovering the problems in the business would enable the organisation to work better and would, therefore, support the organisation by enabling them to undertake various ways through which the transparency among the IT investments can be enhanced within the organisation. Therefore, it would indeed enable the organisation to perform better towards the recovery of the problems that may appear to it in the near future.
What is the role of Audit and Compliance in EA in the given context of Fincorp case study?
The audit department in an organisation helps in highlighting the areas where there is a mismatch in the reports and the actual delivery of service. The audit is conducted in various sectors where the service is being provided by the company. It is done periodically so that the organisation can be able to identify the lacking where it is required to focus on further improvements (Zaki? et al. 2018). Moreover, the auditing department helps an organisation to see and look after various departments and also to identify whether desired facilities are being desirably provided to the customers or not. Following a set of rules and regulations within an organisation is also observed and confirmed by the audit department. Therefore, the audit department highlights the areas where special focus is required by the company. On the other hand, the compliance department also plays an important role in the verification of the documents and also to prove whether the observations taken up by the audits are correct or not. In regards to the given Fincorp case study, the observations of the audit are corrected and verified by the compliance department by demanding and organising proofs against the allegations (Roumell and Salajan, 2016). Moreover, auditing and compliance departments work hand in hand for identification of various problems and issues being raised in the organisation. Therefore, the compliance auditing department makes an organisation understand the weaknesses of arose in the regulatory process. Therefore, in such cases, compliance and auditing are the friend departments that operate for the organisation to identify and cross verify whether everything is working according to the needs of the organisation or not.
In the Fincorp case study, there has been an issue of non-transparency within the organisation. The scenario of non-transparency is expected to be highlighted through a series of events that has been highlighted by the compliance and the auditing departments. Therefore, it can be said that the organisation would, therefore, be required to act strictly for enhancing transparency within the organisation. The Fincorp case study focuses on Enterprise Architecture development through the implementation of specially designed software within the system. The auditing and compliance department mentioned in the given Fincorp case study, therefore, can also have an advantage of operating in a much better way for the organisation. The data collected and stored in the software would enable the department to access them according to the requirements and hence, it can be said that the organisation would also make them understand the ways through which new steps can be taken to identify the problems within the organisation. In this way, the EA software tool would enable compliance and auditing to perform more freely and to play a better role much efficiently within the organisation. Hence, the decision making of the organisation can be enhanced as the working of the organisation and the company would be improved.
Contribution of tools in the achievements of objectives of EA
The tool that has been installed in the organisation would provide access to the internal system to only four-five people at a time. Therefore, considering the facts provided in the Fincorp case study, it can be said that although it can store a huge amount of data and information within itself, yet the access of the people for using according to the requirement may not count for the goodwill of the organisation (Castillo et al. 2017). A situation may occur that a particular person within Fincorp would immediately require the access of the software for working, but the access is being denied as it was logged in already by four or five people which denote that the software is being fully used by some other people. Therefore, time would be wasted in such cases as a series of permission is required to be granted for accessing that software. Hence, the decision-making portion can get delayed due to incapability of that official to access the right and required information at the right time. On the other hand, if the software is being used very strategically, then it would allow the organisation to perform very effectively by looking into the figures and verifying the old trends.
The objective of Fincorp illustrated in the Fincorp case study is to provide the best quality service to the customers and the stakeholders of the company. The objective can be effectively implemented and performed only after the organisation can motivate the employees to work hard for the organisation. It is the foremost duty of the organisation to impress the employees regarding the good services that are provided by the organisation. Therefore, in case of any discrepancies or any rule-breaking, the organisation will be able to understand and get notified regarding those. Moreover, it is also understood that the software tool for EA implemented within the organisation would enable various officials and professionals to access and understand the importance of data and information storage within the system. In this way, it can be said that Fincorp would enable the organisation to understand the ways through which the non-transparency is occurring and take immediate actions regarding this. Similarly, it would also enable the organisation to improve the IT alignment with the new software and the business. The IT alignment would enable the organisation to understand the ways in which the IT can act in a better way for providing service. Alignment of IT would improve the business as various important things can be done within a small span of time. Therefore, this way, the software would enable the organisation to reimplement and re-establish the objectives of the organisation by promoting transparency. The software can again be used to eliminate the problems and make different departments perform in the organisation in a better way (Dang, and Pekkola, 2017). Therefore, it can be said that the software of EA indeed plays a very important role in the establishment of the organisation objectives and promote a clearer picture of the organisation in the minds of the customers and the stakeholders.
Conclusion
In the report, the study is based on a Fincorp case study that relates the importance of EA software in the organisation and how the software can enable various departments to perform, in a better way, through accessing important information and data. The auditing and compliance department plays a better role in highlighting the issues that are occurring within Fincorp. However, using the specialised software such problems can be dealt with and understood in a much easier way that would save time as well. Therefore, it can be concluded basis the Fincorp case study that the organisation of Fincorp would be able to perform better in the market and would be able to eliminate non-transparency and promote transparency within the organisation.
References
Castillo, L.F., Raymundo, C. and Mateos, F.D., 2017, November. Information architecture model for data governance initiatives in Peruvian universities. Fincorp case study In Proceedings of the 9th International Conference on Management of Digital EcoSystems (pp. 104-107).
Dang, D.D. and Pekkola, S., 2017. Systematic Literature Review on Enterprise Architecture in the Public Sector. Electronic Journal of e-Government, 15(2).
Hansen, P. and Hacks, S., 2017. Continuous delivery for enterprise architecture maintenance. Full-scale Software Engineering/The Art of Software Testing, 56.
Huang, Y., 2017. Information architecture for effective Workload Control: an insight from a successful implementation. Production Planning & Control, 28(5), pp.351-366.
Lapalme, J., Gerber, A., Van der Merwe, A., Zachman, J., De Vries, M. and Hinkelmann, K., 2016. Exploring the future of enterprise architecture: A Zachman perspective. Computers in Industry, 79, pp.103-113.
Paea, S. and Baird, R., 2018. Information Architecture (IA): Using multidimensional scaling (MDS) and K-Means clustering algorithm for analysis of card sorting data. Journal of Usability Studies, 13(3), pp.138-157.
Roumell, E.A. and Salajan, F.D., 2016. The evolution of US e-learning policy: a content analysis of the National Education Technology Plans. Educational Policy, 30(2), pp.365-397.
Zaki?, V., Nikoli?, M. and Kova?evi?, V., 2018. International experiences in cooperative audit and lessons for Serbia. Fincorp case study Ekonomika poljoprivrede, 65(3), pp.1111-1122.
