Erp for Banking Industry

2659 Words Sep 29th, 2014 11 Pages
Short Communications

ERP FOR BANKING INDUSTRY
Subodh Kesharwani
Enterprise Resource Planning application software is appropriate for organizations in all economic sectors including banking industry. This wide applicability is largely possible as ERP offers considerable flexibility to customize the software by tailoring it to the individual organizational needs. In this short review paper, it is attempted to enumerate potential and prospects of ERP system in the banking industry which is generally done after its system integration with other IT and web-enabled banking systems.

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INTRODUCTION Banking broadly
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It also needs to provide a statement of account with a reasonable time and a stateManagement & Change, Volume 9, Number 2 (2005) © 2005 Institute for Integrated Learning in Management. All Rights Reserved.

110 ERP For Banking Industry

ment of the balance on request. Banks are supposed to honour their cheque upto the credit balance or overdraft limit, provided they are in order and there is no stop (Lipscombe & Pond, 2005). As the name suggests, ERP systems utilize a companywide framework that links all process driven information systems together into one large integrated system. Information determines the speed and efficiency with which customers’ orders are processed and progressed as a vital link in the overall efficiency of a nationwide banking system. ERP is basically an integrated system that links individual functions and coordinates information flows to achieve overall organizational efficiency including customer satisfaction.
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