Study Case: NTUC Income in Implement the eBoa LifeSystem

Modernization of NTUC Income

(The Implementing of eBoa LifeSystem)

Introduction to NTUC Income:

•  A Co-operative Insurances Company formed in 1970

•   A social enterprise of Singapore National Trade Union Congress (SNTUC)

•   A homegrown company in Singapore and has 8 branches

•   Offers Life, Health, Commercial, and General Insurance Policies

•   Initiated by Dr. Goh Keng Swee

•   Initial capital was $1,2 million whereas now have assets at $19,9 billion

•   It is one of the “Big Three” insures in Singapore with 2 million costumer

•   Its current is Mr. Tan Suee  Chieh, took over from Mr. Tan  Kin Lian

•   Ranked 181st  across all industries, 36^th in position in the insurance sector

•  Received many prestigious awards and recognitions

Problem faced by NTUC Income:

    Income had problems with hour they process their insurance because it is very tedious and paper  based. The way they do business costs them time, because it takes them more days to finish a certain request for insurance, money, because they need to upgrade Hp 3000 mainframe that frequently breaks space, because it is paper based all forms were put into cartons and resulted to occupying 3 were houses. Policy writing is in batch process and information was not available to agents and advisors as a result they loss the opportunity to cross sell.

Solution for resolving the Problem 

   Income’s Problems were resolved in June 2003 when they switched to java based eBoa LifeSystem from eBoa Technology. When Income migrated their documents to eBoa LifeSystems everything was in order. All documents were scanned and stored on trusted storage devices, secured, reliable digital files that enabled strict compliance with stringent statutory requirements. Because at eBoa’s hitech features. It covered policy administration, sale management and supplementary resources. According to James Kang, CIO of Income it has everything that they were looking for a customers centric design, seamless, integration with imaging and bar code technology, a product defination module that supports new products , new channels and changes in business process. Finally, NTUC Income had the lower cost and much shorter time for implementing the eBoa LifeSystem in their business.

     Source: Management Information Systems 12ed: Kenneth C. Laudon and Jane P. Laudon: 
                 London 2012. (Study case was presented by Erna Safriana and Riezky Ryatun Putri).

INTERNATIONAL ACCOUNTING STANDARDS

The Benefit of a Single Set of High Quality Accounting Standard

Standar akuntansi internasional dibuat oleh badan independen yang berkedudukan di London, United Kingdom. Badan ini bernama IASB (International Accounting Standard Board). Dalam melaksanakan tugasnya lembaga ini dibantu oleh beberapa badan yang juga dipilih secara independen dan profesional. Lembaga tersebut terdiri dari: International Accounting Standards Committee Foundation (IASCF), Standards Advisory Council (SAC), International Financial Reporting Interpretation Committee (IFRIC). Standar yang dihasilkan oleh badan IASB diberi nama IFRS (International Financial Reporting Standards). Penerbitan standar internasional dimaksud untuk memberikan manfaat kepada banyak pihak. Diantara manfaat-manfaatnya adalah sebagai berikut:

• akses ke pasar modal asing menjadi lebih mudah
• meningkatkan kredibilitas pasar modal domestik di investor asing dan calon rekan merger asing
• meningkatkan kredibilitas untuk calon pemberi pinjaman laporan keuangan dari perusahaan di negara kurang berkembang (less-developed country)
• biaya modal yang lebih rendah bagi perusahaan
• data keuangan yang dapat dibandingkan melintas batas negara
• transparansi yang lebih besar
• pemahaman yang lebih baik- penggunaan bahasa keuangan yang sama
• adanya kebutuhan dari perusahaan untuk membuat satu pembukuan saja
• mengurangi biaya penyusunan standar nasional
• meringankan peraturan dari pasar sekuritas -  peraturan yang dapat diterima dari informasi keuangan yang disediakan oleh peserta pasar
• kelanjutan pedoman implementasi lokal untuk keadaan yang bersifat lokal
• kerentanan yang lebih rendah atas tekanan politik daripada standar nasional
• kemudahan akses ilmu pengetahuan dan pendidikan yang melintasi batas negara
• konsisten dengan konsep kepercayaan atas satu profesi global

Menurut Sir David Tweedie, chairman of IASB (Januari 2001-30 Juni 2011), dalam testimoninya sebelum the US Senate Committee on Banking, Housing and Urban Affairs pada 14 Februari 2002 di Washington menyatakan bahwa ada empat alasan dibutuhkannya satu penyusun standar internasional:

1. adanya pengakuan dan kebutuhan yang terus berkembang atas standar akuntansi internasional.
2. tidak ada penyusun standar yang secara individu mempunyai monopoli atas solusi terbaik dari masalah akuntansi .
3. tidak ada penyusun standar nasional yang berada dalam posisi untuk menetapkan standar akuntansi yang dapat memperoleh keuntungan dari pengakuan di seluruh dunia.
4. penyusun standar nasional menemukan banyak area dalam laporan keuangan yang sulit untuk ditetapkan secara secara individu. (Tweedie 2002).

Lebih lanjut, Sir David Tweedie dalam sambutannya untuk Economic and Monetary Affair Committee of the European Parliement pada 31 Januari 2006 memeberi komentar tentang manfaat dari standar akuntansi yang bersifat global:

• Dengan adanya bahasa umum yang sama, yang diaplikasikan secara konsisten, akan memungkinkan penanam modal lebih mudah untuk membandingkan hasil keuangan dari operasi perusahaan yang berada dalam yurisdiksi yang berbeda dan menyediakan kesempatan yang lebih besar untuk investasi dan diversifkasi.
• Resiko utama investasi menjadi berkurang yang mengakibatkan biaya modal menjadi lebih rendah
• Untuk auditor, dengan adanya satu standar akuntansi yang berlaku, memungkinkan perusahaan audit internasional untuk menstandarisasi pelatihan dan memberi jaminan kualitas atas pekerjaan mereka dalam konteks global. Hal ini terkait dengan konsistensi penerapan atas masalah akuntansi oleh perusahaan audit dan kliennya.
• Untuk pembuat peraturan, mengurangi kebingungan yang terkait dengan kebutuhan untuk memahami berbagai jenis laporan dari rezim yang berbeda.

Sources: Alfredson, Ketih et. al. 2007. Applying International Financial Reporting Standards. Australia: John Wiley & Sons Australia Ltd.

"Banyak cara mendekatkan diri dengan Allah: Salah satunya dengan Thariqat".

THARIQAT NAQSYABANDIYAH

 

    Arti thariqat adalah jalan

Cara mengamalkan syari’at Nabi

Melaksanakan perintah Tuhan

Semua larangan harus dijauhi

            Sebagai contoh kita diperintahakan

            Doa permohonan kepada Ilahi

            Tapi bagaimana Doa disampaikan

            Tidak disebutkan secara rinci

    Perintah berzikir mengingat Tuhan

Wajib dilaksanakan sepanjang hari

Bagaimana zikir dilaksanakan

Tidak ada penjelasan wahyu Ilahi

            Ilmu Thariqat menjelaskan

            Cara melaksanakan perintah Ilahi

            Dengan penuh adab dan sopan

            Sesuai dengan sunnah Nabi

Syari’at dan Thariqat didalam Islam

Harus dibedakan dengan hati-hati

Syari’at adalah hukum perundangan

Ketetapan Tuhan yang Maha Tinggi

            Dengan Thariqat kita amalkan

            Perintah Tuhan yang Maha Suci

            Mengamalkannya dengan keikhlasan

            Mencari ridha Tuhan di dunia ini

Dengan Thariqat kita rasakan

Semua kejadian dari Ilahi

Tidak ada daya dan kekuatan

Melainkan dengan pertolongan Ilahi

            Arti Ma’rifat mengenal Tuhan

            Dengan memperhatikan alam ini

            Akan terlihat kebesaran Tuhan

            Menambah keyakinan dalam hati

Banyak Thariqat telah berkembang

Yang paling terkenal Naqsyabandi

Karena bermacam zikir yang diamalkan

Mendatangkan kepuasan dalam hati

            Orang beriman hatinya tenang

            Mengingat Tuhan sepanjang hari

            Beribadah siang dan malam

            Itulah tujuan Naqsyabandi

Source: Panduan Zikir dan Doa Bersama oleh Majelis Zikir Al-Waliyyah bimbingan Abuya Tgk. H. Djamaluddin Waly, 2003, AD Zikra: Jakarta.

MANAGEMENT INFORMATION SYSTEMS

CHAPTER I

INFORMATION SYSTEMS IN GLOBAL BUSINESS TODAY

In managing or running a business, information systems support is the basis for every course of a business. Without the use of information technology in the enterprise, it is difficult for the company to continue to advance and evolve, therefore the information systems become very important in helping running a company in the global economy. Organizations trying to become more competitive and efficient by transforming itself into a digital company that uses digital technology in terms of core business processes, customer relationships, suppliers, and employees. Businesses today use information systems to achieve the organization's objectives, namely operational excellence, new products, services and business models, supplier customer relationships, enhance decision-making processes, and competitive advantage
business continuity. Therefore, the company must turn to technology and information systems to achieve all of the above needs.

From a technical perspective, an information system can be defined as a set of interconnected components, collect, store, and disseminate information from the environment and the organization's internal operations to support organizational functions and decision-making, communication, coordination, monitoring, analysis and depiction. Information systems transform raw data into useful information through three basic activities, namely input, process and output ( image ). From a business perspective, information systems providing solutions to the problems or challenges faced by the company and provide real economic value for the company.

Speaking about the information system, the system has a three- dimensional information ( elements ), namely the elements of management, organization, and technology, in which each element of ( dimensions ) that has the power to provide solutions to challenges and environment business problems. Which was referred to a broader understanding of the information system. Aspects of information systems management include leadership, management and strategy behavior. Aspects of the technology consists of hardware, computer software, data management and networking / telecommunications. Organizational aspects of information systems involves a hierarchical organization, functional expertise, business processes, culture, and political groups.

Organizational capital and the right business model is the use of information systems, as information systems are part of a sequence of activities add value to obtain, modify, and distribute information with the aim of improving decision-making processes, improve corporate performance, and ultimately increase profitability. Information technology can not deliver this value if not accompanied by changes in the organization and management of the so-called complementary assets. This complementary assets including the latest business models, new business processes, organizational culture that support, management support and incentives for innovation, training, and social assets such as standards, laws and regulations, and telecommunications infrastructure. Companies that invest in fixed on the complementary assets are commonly referred to as capital management and organization, receiving superior returns on their information technology investments.
Studies dealing with the issues of information systems and approaches that contributed from technical and behavioral disciplines. Disciplines contribute to the technical approach are computer science, quantitative methods, and operations research. disciplines that contribute to behavioral approaches are psychology, sociology, and economics.

Skills requires an understanding of information systems and organizational aspects of the management of information systems. So also the technical aspects of computer expertise aimed for. Skills approach to information systems taking both technical and behavioral for studying information systems. Field of information systems created by combining information systems expertise all these disciplines with practical orientation in the development of solutions for problems of real-world systems and the management of information technology resources .

 Sources: Management Information Systems 12ed: Kenneth C. Laudon and Jane P. Laudon, 2012.