Credit Corp Inc. is a multinational financial services provider, and it faces significant issues due to challenges in providing its services with outdated IT infrastructure. The old incorporated technologies have led to delays in service rendering to its existing customers. Target customers are expressing fears due to the company’s service delays. For CreditCorp Inc. to stabilize its operations, the stakeholders must adopt a change process to prevent the company from crumbling. This proposal will address the key questions the change advisory board might have as well as solutions recommended to prevent the company’s failure in terms of customer service.
As a director of Information Technology and as a responsible party for the transition, I would like to raise the necessity of change within Credit Corp Inc. Among my responsibilities is ensuring the efficiency of IT software, and recently, it has come to my attention that there have been malfunctions. As a result, the overall effectiveness of the day-to-day operations has decreased, causing longer waiting times and errors. Consequently, I cannot but stress the detrimental impact it can have on customer satisfaction, which might lead to further deterioration of revenue.
Therefore, the reason for the change is the increasing probability of losses connected to outdated Information Technology software. It would be advisable for the company to adopt the new IT infrastructure to counter the backdrop. IT infrastructure helps the company to maximize employee performance. Effective IT management contributes to maximizing reliability, boosts system efficiency, and improves the user experience. As a result, the infrastructure helps build the reputation of a company. In the given circumstances, it is vital to understand the importance of IT in companies. Without proper technologies incorporated into the firm, there will be no strong competitive advantage since, in the face of a variety of companies, clients will have no desire to utilize outdated platforms and services.
However, it is necessary to mention that there will be risks associated with the change. The company’s operational systems will be tempered during the shifting time from old IT to new IT. The latter will make the CreditCorp Inc. services unavailable to its clients for some time, lowering customers’ trust in the company (Agutter, 2020). Temporarily being out of reach may make some existing customers opt out of the company and, thus, the institution record losses, which is a major threat to the company. Since the fictitious CreditCorp Inc. is multinational, it has to be operational round the clock.
Regarding the resources required for the transition, IT experts will be needed to closely monitor the transition process as it will entail phase-to-phase supervision. The IT experts might additionally be expected to reach out to customers to discuss particular issues affecting them. There is a need to replace worn-out IT materials with new ones to facilitate the change process and enhance the company’s operations efficacy. CreditCorp Inc. may require additional IT personnel to ensure all sectors are well-taken care of. During the piloting of the new IT, more people may be required to come up with the best results in terms of speed and efficiency in IT, which is the goal of customer satisfaction in the company.
The responsibility will then be divided among CFO and COO, responsible for building, the IT director, responsible for implementation, and the IT team, responsible for testing. The person who will oversee the direct incorporation of the new technologies will be the director of IT. In turn, the stakeholders responsible for the testing will be the IT team, who will install and evaluate the new IT installation process. Lastly, the company’s Chief Operational Officer will be responsible for building and structuring the change by facilitating the process and providing insight into the processes at CreditCorp Inc. Lastly, Chief Financial Officer will be responsible for carrying out audits concerning the IT change process.
Finally, IT change occurs in a similar manner to other organizational changes and, thus, follows the same criteria. Any change starts with preparing the organization for the change, implementing the change process, monitoring the process, and analyzing the results. If the change process is closely monitored bit by bit, it is said to be viable and, thus, may be adopted. While incorporating the change of IT within the firm for customers, other accompanying changes will involve the transition to new software and temporary change team with their personal leadership. There is a causal relationship between these changes since the requirement for IT change leads to the creation of new teams and operations.
As for the stage of release management, the waterfall method will be the most appropriate one to adopt. The Waterfall method closely monitors each phase before proceeding to the next one. The plan is released, planned, designed, and discussed by the board, and if training is needed, it can be provided. The new IT is then tested, and if found workable, it is maintained. The reason why the Waterfall method was chosen over Agile is that the latter requires incremental change, whereas the given firm needs a quick and adaptable transition, and the Waterfall process ensures a single process.
Hence, Credit Corp Inc. requires a change in the context of Information Technologies since the outdated infrastructure leads to losses and decreases customer satisfaction. Without change, the company will experience an outflow of clients. As a result, the transition must be implemented, and the stakeholders will involve an IT team, an IT director, Chief Financial Officer, and Chief Operating Officer. While there are risks, the implications will additionally give an opportunity for Credit Corp Inc. to enhance its competitive advantage.
Reference
Agutter, C. (2020). ITIL Foundation Essentials ITIL 4 Edition-The ultimate revision guide. IT Governance Publishing Ltd.