- According to the case study, the banking industry in the era of 90s were in a good financial condition, however; there was some banks that don’t have success stories at the time of era of 90s in particular. As per the case study, problem of shaking of confidence of the people from the real estate market of the country, along with fluctuating interest rates and stock market crash were some of the major incidents due to that the banking industry of that time received some serious jolts altogether and among those banking sector, one of the names that presented was of Credit Suisse Group, who received some serious jolts and hamper that completely devastated their growth as well as the financial structure.
- As per the analysis of the case study of Credit Suisse, it is found that Daniel, one of the major management personnel identifies the need of a new supplier management/system. The most dominating advantage highlighted in the case study of a new supplier management/evaluation system is saving the time and cost of the company. The new system has a tendency to properly identify the problem and then deliver the thing at the right time in particular. By focusing on the problem completely, the company also becomes able to decrease their cost accordingly and bring new effectiveness to the company.
- Information technology (IT) is the most important aspect from the viewpoint of the organization and it is equally beneficial for a bank as well. A bank should keep their line of connection in an effective manner, hence proper measures and steps should have been taken while switching to the IT based management activities in particular. The steps that should have been taken into account including the analysis of the new system of Information Technology, followed by its implementation and analyzing the most appropriate one for the company. IT department of the bank or the company should consider the advantage of the new IT system on the company and what sort of benefits they will reflect on the financial and strategic position of the company in the future.
- Daniel and his team are in the process to analyze the vendors across four different categorizes. The categorizes that have to consider by Daniel and his team in order to meet with the requirement of the Credit Suisse Group are their stance towards diminishing demand of the services and products of the company, along with identifying the problems and issues pertaining to the company and cost efficiency. If all of these characteristics are in the right position for the company then it will certainly bring positivity and effectiveness to the bank in their future.
- In order to accomplish and establish the things accordingly, it is important for the companies to file a New Service Level Agreement (SLA) with a new provider. The three key areas that should be defined in the new SLA are, a) The management of both of the organizations should be there in case of any mishap and problem, b) The IT department of the new supplier should provide each and every information and copy of the evidences to the management of the Credit Suisse relates to their organization in order to manage the things accordingly C) Prior payment notification should be recorded in an effective and organized manner
- The quantitative benefit that has been highlighted in the case study from the new provider is cost efficiency due to that the bottom line of the bank could increase tremendously well in particular while the qualitative benefit that the bank will be consider is increasing the customer base by enhancement in the goodwill of the company.
- We have learnt that organizations especial banks should be ready for any mishaps every time because bad time never gives time to get ready for the mishaps and IT department especially get aware of all malfunctions and problems. It is also found from the analysis that the provision of interest rate is extremely important for an economy as well as for the financial institution in particular. We have learned from this entire case study regarding how an economy should respond towards the effectiveness of their productivity and enhancement. Quantitative Easing is one of the best methods to increase the economic consequences with positive attitude is yet another lesson learned from the case of Credit Suisse.