The MGMT Insurance Ltd. accepts payments on various insurance policies from employees of businesses across the island. These businesses deduct payments from employees’ salaries and pay the insurance company a lump sum each month. This total amount deducted is shown on each employee’s payslip. Deductions are due at the end of each month and each participating business submits one payment for its employees to the insurance company via online payments through the bank. However, if payments were received after 11:00 a.m., the bank does not process them until the next business day. At the beginning of each month an administrative assistant at MGMT Insurance Ltd. downloads the deductions for each company and allocates payments to the various policies. These payments include the client’s unique number along with his/her relevant policy numbers and amounts due. However, recently there has been some complaints that payments for some policies were not being allocated correctly. Additionally, assume that one client experienced a problem with insufficient deductions to cover his/her monthly premiums. As a new manager with the company, you wish to check the systems and processes to ensure that they are up-to-date and report your findings and possible recommendations at the upcoming meeting. REQUIRED Information Technology Management Reporting You need to analyse the above business processes and discuss what could possibly cause the troubles that the company is currently experiencing. You are attending a number of routine meetings that are conducted online. The meetings are organized in five partss to discuss a different part of the requirements. As a team, summarise the information shared so far and discuss TWO findings about your analysis that can be used to focus on the issues. Make TWO recommendations to prevent both the misallocation of deduction and the issue of too small a deduction.
The MGMT Insurance Ltd. accepts payments on various insurance policies from employees of businesses across the island. These businesses deduct payments from employees’ salaries and pay the insurance company a lump sum each month. This total amount deducted is shown on each employee’s payslip. Deductions are due at the end of each month and each participating business submits one payment for its employees to the insurance company via online payments through the bank. However, if payments were received after 11:00 a.m., the bank does not process them until the next business day. At the beginning of each month an administrative assistant at MGMT Insurance Ltd. downloads the deductions for each company and allocates payments to the various policies. These payments include the client’s unique number along with his/her relevant policy numbers and amounts due. However, recently there has been some complaints that payments for some policies were not being allocated correctly. Additionally, assume that one client experienced a problem with insufficient deductions to cover his/her monthly premiums. As a new manager with the company, you wish to check the systems and processes to ensure that they are up-to-date and report your findings and possible recommendations at the upcoming meeting.
REQUIRED
Information Technology Management Reporting
You need to analyse the above business processes and discuss what could possibly cause the troubles that the company is currently experiencing. You are attending a number of routine meetings that are conducted online. The meetings are organized in five partss to discuss a different part of the requirements.
As a team, summarise the information shared so far and discuss TWO findings about your analysis that can be used to focus on the issues. Make TWO recommendations to prevent both the misallocation of deduction and the issue of too small a deduction.
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