BANKING MANAGEMENT SYSTEM: Financial Module (Collection, Budget Management, Disbursement, Accounts Payable & Accounts Receivable, General Ledger)

Abstract

Understanding financial-management problems requires analytical dexterity and strategic vision. All organizations, regardless of size, put procedures into place that enable personnel to increase revenues while slashing costs. Problems are raising cash, repaying debts, funding long term initiatives, recording transaction accurately, increasing revenue and analyzing financial data. The Agile Scrum Methodology includes different phases. The first phase is the requirements analysis in which the development team do some research on the internet regarding to the modules of financial and have a discussion about the process of the sub-modules assigned to each member. After the requirements analysis phase the team moved to the design and prototype. The third phase is the Iterations, Demo and Feedback in which the team run a beta testing and presentation of the finished sprint to the product owner to check if there are errors to be fixed and any changes or additional features to be added. The following are the recommended features of Banking Management System. Timely updates about the status of the request to notify the requester about the request. Budget planning and allocation of planned budget. Recording of actions made in the system to avoid stealing of data. User restrictions to avoid unwanted user accessing the system. Friendly user interface that can be navigated and used easily. Analytical report that shows the insights of the total assets, total liabilities, total revenues and total expenses of the company and generating of reports with real time basis for updated information results. Banking Management System aims to develop a secured and automated financial system that will make the flow of financial works easier, safer and faster. Through months of researches the development team will be able to solve identified problems such as lack of data security data redundancies, delay in processing request, and lack of real time updates regarding to the request. The team addresses the identified problems by developing an enterprise integrated system that has a user restriction to avoid unwanted user accessing the system. Developing a user friendly interface that can be easily navigated and used by the user.