$RU-case-05-business process

$RU-case-05-business process - $RU Teaching Case...

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Unformatted text preview: $RU Teaching Case (INFS1000) by Dr. Kai Riemer Part 5: The $RU business process $RU is now in the middle of its first stage of expansion. Two partners will join the North Syd ­ ney office in about two weeks time. This means that Murray had to rent two more offices on the same floor of the office tower and the reception area is also being rebuilt to service the larger office area. While the expansion is going well, with about 200 new clients being brought in straight away by the new partners, Murray starts to get worried about how the new planners will fit in. Over the past years he has formed a successful team with Kerrie, in which every one knows exactly what to do. However, they only know all these things instinctively, they never had to document anything. Murray is now worried about how they are going to get the two new planners (and maybe more in the future) to fit in. How will they know what to do? How can Murray expect the new planners to deliver the same $RU service, and in the same quality the clients are used to from Murray? Essentially, Murray wants that all planners who work with the business deliver the same quality. He wants to build a strong company reputation and for the clients to know exactly what to expect when they come to $RU: high quality, personalised service and little surprises. Because, as Murray reckons, when it comes to their hard ­earned Dollars, people want predictability, not surprises! At the same time, Murray is still in the middle of deciding how to get all of $RU’s information managed with the help of a database. He contemplates many questions: Should they design their own database based on the ERD, which Murray has already in his drawer? Or should they invest in standard software that will come with professional service and help desk sup ­ port? Murray decides to call Martin Skyesdale, an IT consultant with whom he has worked in the past, and to get his opinion on the situation. Martin explains that in fact all of Murray’s current problems come down to the one issue: $RU needs a better understanding of what they do. Murray needs to understand what Martin calls the business processes. The best way to do this, according to Martin is to get a visual representation of their business processes by way of process modelling. During process modelling, Martin explains, a structured model of a process is created. Such a model can then, on the one hand, serve as a blueprint for the new financial planners to understand how $RU operates. Hence, the process model can be used for training purposes. On the other hand, this model will provide the basis for changing the way in which $RU operates, once they implement their new Information System. Regard ­ less of whether they create their own database solution or buy standard software! “But how are we going to do this?”, Murray asks. “Well, it is as easy as this,” Martin replies, “I will do an interview with you and Kerrie and you will tell me exactly what and how you do things when you deal with your clients. We will tape ­record this interview and from the Faculty of Economics & Business Discipline of Business Information Systems Page 1 $RU Teaching Case (INFS1000) by Dr. Kai Riemer transcript we can then create a representation of the process, using standard business pro ­ cess modelling notation.“ Here is the transcript of this interview: Interviewer: Now, let’s talk about $RU’s business process. We start from the top: let’s say a new customer rings you up. Is that the first contact...? Kerrie: Well, most often we call them. If they’re referred by another customer, we usually call them. Murray has a chat with them on the phone. Interviewer: What happens then? Kerrie: Well, if they are happy an appointment’s booked for the first meeting. Murray: Then they come here. We’ll sit down and do what’s called a discovery meeting. Interviewer: How does it work? You ask them to bring in their what? Financial re ­ cords or things like that? Murray: Yeah, they get a letter that goes out to them beforehand. Interviewer: A letter goes out to them before the first meeting? Kerrie: Yes, I prepare and send a letter… Explaining to them it’s going to take an hour ­and ­a ­half. We want them to bring in tax returns, employee bene ­ fit statements, superannuation statements, wills, all important docu ­ ments. Murray: Then, on the day, we sit down and try to get a sense of the complexity of the client. And that’s for us, for me and for them to work out whether we’re the right firm for them and for us to work out whether they’re the right of client for us and that generally takes about an hour to an hour ­ and ­a ­half. Then the next step will be the preparation of a statement of advice. Interviewer: Is that only in case they are the right client or is that in any case? Murray: No, no, it’s only if they’re the right client for us, because that’s when the fees start being charged, after that first appointment. Interviewer: OK, what happens if they’re the right client? Murray: Well, a few days later you’ll sit down with the transcript of the meeting and with the client documents trying to work out where the client is, just trying to work out… Well, you come up with a strategy for the Faculty of Economics & Business Discipline of Business Information Systems Page 2 $RU Teaching Case (INFS1000) by Dr. Kai Riemer client, the financial plan basically… That’s where the main job is, trying to work it out, for the client  ­ what’s best. Kerrie: All that goes in the big document at the end – the Statement of Advice. That’s what it’s called now. Basically, like a financial plan. Interviewer: Then you send that, put that in the mail? Murray: No, they come in – the client comes in. You present the plan. Interviewer: You go through it in another meeting? Kerrie: Yeah, three or four weeks later probably. I call the client and we book another meeting. Murray: Yeah, generally about a month later. Kerrie: It’s not really a document you put in the mail because it’s like about that thick (shows) and the client needs to be explained what it all means. Interviewer: OK, you have this second meeting? Murray: It’s basically most people will say straight away, “yeah let’s implement.” So you just sign the paperwork at that appointment. And we collect a cheque at that appointment for the Statement of Advice. Interviewer: So, they then enter into a relationship? Murray: They don’t have to, yeah. They may say look I don’t want the relations ­ hip, in which case we shake hands we don’t see them again. Interviewer: OK, just to understand this, they might take the document, take the advice and then they’re free to go because they paid for the document? Murray: Yeah. Interviewer: Or they’ll sign a contract? Kerrie: Yes, most clients at this point, well, they sign the contract, we call it the ‘retainer’, and we implement… Interviewer: Implement? Kerrie: Yes, we start the investment process. We do what is proposed in the statement of advice – buy funds etc. – implement the strategy. Interviewer: I see. And then? Kerrie: That’s it. That’s basically finished. Well, for you to know what really happens during the meetings, or with what Murray does, the planning, Faculty of Economics & Business Discipline of Business Information Systems Page 3 $RU Teaching Case (INFS1000) by Dr. Kai Riemer or making the investments, I do that basically. Well to understand that better, we’d have to explain more... Interview: Yes, we need more interviews, more details yeah, but I guess this is a good description of the main process. Some of the steps, we’ll have to do separate interviews to get more details on these activities. Anyway, thanks for now! Murray: My pleasure. Faculty of Economics & Business Discipline of Business Information Systems Page 4 ...
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