$RU-case-05ext-SoA process

$RU-case-05ext-SoA process - $RU Teaching Case...

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Unformatted text preview: $RU Teaching Case (INFS1000) by Dr. Kai Riemer Part 5 (extended): Preparing the SoA Martin Skyesdale has carried out an interview with Murray and Kerrie and has now gained a pretty good understanding of $RU’s main business process and the main steps involved: 1) Calling the client, 2) running the discovery meeting, 3) preparing the SoA, 4) presenting the document in a second meeting and then, if the customer wants it, 5) implement the stra ­ tegic investment plan. However, as Kerrie indicated in the first interview, there is more to it! In order to understand in more detail how $RU operates, Martin needs to acquire a better understanding of the above activities. Accordingly, his BPMN process model shows that most these activities are actually sub processes and not atomic tasks. That means they need to be modelled in more detail. To this end, Martin arranges for a couple more interviews. As a start, he wants to gain a better understanding of how the Statement of Advice is prepared, as this is a centrepiece in $RU’s business model. And so, on another sunny Sydney after ­ noon, he sits down with Murray and Kerrie over coffee and asks them all about it. Here is what they have to say: Interviewer: As I told you on the phone, today I’d like to talk about how the state ­ ment of advice is prepared. Murray: Sure. Where do we start? Interviewer: You have just finished the discovery meeting. Murray: Ah, ok. After the discover meeting we prepare what’s now called the statement of advice. It used to be called a financial plan. Well, basi ­ cally I’ll sit down with the transcript from the meeting and the client’s documents. That is, if it’s all straight forward. There might be, that the client hasn’t lodged a tax return for the last three years, why haven’t they done that? So if anything like that comes up, any questi ­ ons in their financial information, we might have to send some do ­ cuments off to an accountant and get all this sorted out. And then do the statement later. Interviewer: Ok, and the whole thing’s pretty much a one ­person show? Murray: Yeah. That’s me. That’s what I do… Then in the plan, the advice could be, invest the money here or pay off your mortgage or a whole range of different things that you could be saying to them. And then you normally come up with a detailed investment plan. Managed funds, that sort of thing. Interviewer: And that’s a document? Faculty of Economics & Business Discipline of Business Information Systems Page 1 $RU Teaching Case (INFS1000) by Dr. Kai Riemer Kerrie: Yeah, so… Interviewer: [Interrupts] Who would prepare that document? Kerrie: We actually send that – we send that to an external firm because the ­ se statements of advice are – how would you describe them – they’re… Murray: It’s a legal document… Kerrie: …with all legal disclaimers all the way through it. Murray: This has all basically come about for a compliance purpose and so the statement of advice is a compliance document. Murray: It’s reasonably standard. It’s a reasonably standard document. Interviewer: What do you send off, a list of ideas? Kerrie: Yes. Interviewer: Is that like – is it a letter, is it an email or… Kerrie: No it’s a fax. It’s a table all filled out with all this information from Murray. Interviewer: Like a template. Kerrie: Yes, a word template. Interviewer: Then you print and fax that off to …? Kerrie: It’s called a Para planner. We’ve got this woman, runs her own busi ­ ness and she does all the plans for our firm. So our partner at Par ­ ramatta sends them there as well and she knows basically what a $RU document has to look like. She prepares it, with logos, eve ­ rything… Murray: It was pretty important to us to outsource the Para planning because it’s too expensive for us to have someone dedicated to us in our firm. It’s very cost effective for her to be – she does us and she does a few other firms so it works very well. Interviewer: Then she sends back – what does she send? Faculty of Economics & Business Discipline of Business Information Systems Page 2 $RU Teaching Case (INFS1000) by Dr. Kai Riemer Kerrie: A Word document back, yeah. Interviewer: Okay, to who, to you? Kerrie: To Murray normally, yeah. Interviewer: Then you look through it. Murray: Yeah, it might be ok straight away. If we are not entirely satisfied, I do some editing, add some stuff and then create the final document and then print it off. Interviewer: OK, and that is that. Kerrie: Yeah, that’s finished then. Faculty of Economics & Business Discipline of Business Information Systems Page 3 ...
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