Key constraints the company needs to anticipate in implementing the proposed system.

The CIT Group ought to be mindful of some potential challenges while putting the suggested strategy into practice, such as time, money, and technological constraints as well as opposition to change. The business must make significant investments in new software, hardware, and personnel training. To make certain that it can afford the suggested method, the organization needs to take its budget into account. Additionally, the business may need to set aside space for planning, training, and data migration, which could disrupt regular business operations. Finally, workers could be resistant to change. They might feel at ease using the existing system and be reluctant to master the new procedures and technology of the replacement system. To achieve a seamless transition, CIT Company might require proper training and support.

Conclusion

The CIT group’s present management structure is ineffective at handling day-to-day business operations. The current system has introduced operational problems such as inadequate inventory management, inefficient order placement processes, incorrect billing, poor communication, and low productivity. Therefore, all newly developed processes and actions should be carried out by automated and computerized means. Internal controls should be created as well to protect it against hazards involving money and information, ensure the accuracy and completeness of accounting data, and comply with regulatory requirements. The recommendations made to CIT need to be put into practice, so a thorough project plan must be made that include important stages. The company must develop a feasible implementation schedule for the proposed system, incorporate cutting-edge hardware and software innovations, orient and educate staff who will use it, thoroughly test the new system before implementing it, and develop a plan to handle employee resistance. The following will help CIT Group improve decision-making processes, decrease manual errors, and improve effectiveness, productivity, and flexibility. It will also enable effective communication between important stakeholders.

Reference List

Amin, M.B., Alauddin, M. and Azad, M.M. (2012) Business Transaction Processing System. Available at: https://www.researchgate.net/publication/321070736_Business_Transaction_Processing_System.