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Finance and Business Management System

Abstract

The financial markets are deciding the economy of a nation. The business activities and Industry markets are very important for a country. These business activities can be done in efficient way by using the current technologies in the digital markets. Here, we are going to implement a finance management system using the cloud platform. This is useful for the business organizations for getting consultation and services for improving the business. This can also be used for the small business companies to digitize the activities and also get consultation of legal activities from this system without going in person. This will reduce the manual power and improve the efficiency of the business activities.

 I. Introduction

The business management involves the managing and controlling the various business processes. The centralized management of these processes are very difficult. So there is a need for a system for managing the business processes thereby increasing the revenue of the organization.

The set of functions performed in this project are advertising and promotions, Business Approvals, getting loans for business and so on. This will be helpful for the customers to get their services in online and without delay. The testimonials of the Business service provided by this organization can also be added into this system.

II. Project plan

The project plan is the planning report defining the tasks of the project. Every task is defined with its starting and ending date with the responsible persons. The project planning has the scope plan, cost plan and the schedule plan. The scope plan consists of project tasks with the required resources. The cost plan consists of total cost for implementing the project in cloud platform. The schedule defined by the set of tasks with its start date and duration of each task.

The risk plan can also be preferred to identify the risks involved with the tasks (BCCampus, 2020). The milestones can be defined by the completion of each task of the project. The project milestones are defined as the process point in the project development life cycle. The milestone of this system can be initiation, analysis, design, implementation and testing. Each milestone should be achieved with planned Schedule and budget.

The milestones of this project are listed below.

  • System Requirements Elicitation
  • Analysis of requirements
  • System Design based on requirements
  • System Implementation
  • Deploying the System into the cloud
  • Testing the system in cloud

Business

III. Cloud Architecture solution and Implementation

1. Requirements Gathering

The requirements of the project can be collected from the stakeholders of this project. The stakeholders may be the users, Project team members, business owners. The functional and non-functional requirements are needed for defining a project.

The functional requirements of the system can be defined as the functions with its initial and final conditions. The non functional requirements can be defined as the basic characteristics of a good project. The functional requirements of this project are given below.

Creation of User Login

The function can be used for creating user login accounts for different functions. The users who desire to use this system should make a user account to use this system. Existing solutions

This function is used for the customer organization to view the already done business marketing promotions and advertisements which is stored in this cloud platform.

Requirements of Business Solutions

Here, the clients can send their needs into this function for improving their business services. They can also transmit their design using the templates already defined which is available in the system.

 Viewing the final business service

The customers can see the final report of their demanded business service in this system. They can even make changes before getting the final report get it done.

Bill Payment

This is the last step of the business service where the client can make payments for the delivered business solutions. The payment mode can be net banking, credit or debit card payment.

The non-functional requirements are used to verify the requirements of all the projects. These requirements are generally used for finding how the project will perform after deploying into the cloud. The non-functional requirements are efficiency, security, scalability, reliability and adaptability.

Security: How secure the system will be? The security of data assets related to a business is very important.

Reliability: What is the probability of the system tend to fail? The failure of this system will affect the business revenue. So the system should be highly reliable.

Efficiency: How efficiently do the systems perform the desired operations? The system should perform all the business processes with utmost accuracy.

Scalability: How much workload the system will handle? The system should be scalable if there are more business requests

Adaptability: How well is this system adaptable with the existing applications? The system should capable of interoperating with the existing systems in the business processes.

2. Choice of type of cloud platform

There are several cloud service providers nowadays. The well-known cloud platforms are Google Cloud, Microsoft Azure, Amazon Web Services and Cisco cloud. The suitable cloud platform for this project is Amazon Web services because it is compatible with the existing windows applications and offers a free trial for usage for 6 months. The cloud computing model can be chosen such that they provide the storage, computation and database in the cloud infrastructure (Data Flair, 2020).

3. Choice of data centre and standards

The data centre may be used from on-premise of the finance and business company which provides business solutions. The data centre chosen should contain the infrastructure with redundant components for backup and recovery. The infrastructure will contain a more number of security and cooling layers. The data centre chosen here is a Tier2 data centre among the four categories of the data centre.

4. Cloud System Architecture developed to solve the problem

This architecture shows the cloud-based platform for the financial and business management systems. It has Amazon web services for sending the business needs among the client and the service provider. The Amazon EC2 can be used for business computations in the server. The Database service is provided by the Amazon DynamoDB for real-time database applications

AWS Cloud Pricing Calculator

 5. Implementation using any cloud platform

Amazon Web Services is a cloud platform provided by Amazon.

Database:

The above screenshot shows the database configuration using the Amazon Mysql service for database operations. This provides very highly scalable database services.

Elastic Beanstalk

The elastic beanstalk service can be used to deploying web applications. This is a very easy to use service and can be configured for periodic updates at the custom duration of time.

ScreenShot:

The above screenshot shows the home page of the project which shows the main services of the business consulting company.

The above screenshot shows the featured services of the business consulting company. Some of the featured services are Promotion and advertising, business licenses and permits and so on.

6. Analysis and Reflection

The cloud-based system can be deployed in the chosen cloud platform. The cloud-based system should monitor using the remote administration services which are provided by the cloud provider. The security of the data in the cloud should be ensured by the cloud provider.

Even though the cloud provider offers security features, the consumer should implement extra layers of security inside the organization (New Relic, 2020). The small loophole inside the company will allow the malicious attacker to enter into the system. The cloud provider should provide the negotiated resources and services. The service level agreement should include the fines and penalties which can be imposed when the provider failed to provide the accepted level of services.

The government has defined some regulations for cloud standards. The data centre should be known to the consumer where the data and applications reside. The cloud provider should not allow access to data by other consumers of the cloud service (Business Continuity / Disaster Recovery, 2012).

IV. Conclusion

Thus the cloud-based system for finance and business management system has been implemented. This is useful for the business organizations for getting consultation and services for improving the business. This can also be used for the small business companies to digitize the activities and also get consultation of legal activities from this system without going in person.

This will reduce the manual power and improve the efficiency of the business activities. The development of business requires advertisement and product promotional activities. The legal business activities can be taken care of by this agency and the business activities can be concentrated by the organizations.

References

BCCampus. ,2020. 8. Overview of Project Planning. https://opentextbc.ca/projectmanagement/chapter/chapter-8-overview-of-project-planning-project-management/ , 1-1.

Business Continuity / Disaster Recovery. ,2012. CLOUD SECURITY ALLIANCE SecaaS Implementation Guidance, 5-27.

Data Flair. ,2020. Cloud Computing Architecture – Components & Saas, PaaS, IaaS. https://data-flair.training/blogs/cloud-computing-architecture/ , 1-1.

New Relic. ,2020. 7 Requirements for Monitoring Cloud Apps and Infrastructure. https://newrelic.com/resources/articles/cloud-monitoring-platform-requirements , 1-1.

 

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