HSBC Bank Malta p.l.c. is an international banking service and the world’s biggest financial services group in Malta. They serve around 48 million customers through four global businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking. HSBC Bank Malta p.l.c. is a member of the HSBC Group, whose ultimate parent company is HSBC Holdings plc. Headquartered in London, HSBC Holdings plc is one of the largest banking and financial services organisations in the world. There network covers 72 countries and territories in Europe, Asia, the Middle East and Africa, North America and Latin America. With around 6,100 offices worldwide, they aim to be where the growth is, connecting customers…show more content… So, this improvement will reduce paper, ink savings and manual labour. Given the pressure the staff has this new system will encourage its people to opt for a more environmental friendly lifestyle. So, HSBC Bank Malta’s are to simplify their business and concentrate on achieving savings by streamlining processes, and investing in technology, as well as in their people. In addition to these initiatives, they are seeking ways to improve their way of working and eliminate to print the document.
When the department uses a cost benefit analysis this helps the department to assess the total probability cost of an improvement compared to the total expected improvement one at a time to decide whether the anticipated implementation is worth it for the department to be achieved or not.
It is estimated that HSBC Bank Malta has around 500 relationships with other foreign banks. So, one can already guess that a lot of paper and printing must be done by the staff. According to the below workings this shows the departments expenses.
Total Cost of old procedure:
Material Volume Workings Costs Total
Paper Estimation of 70 pgs per file 1 ream of paper costs €2.50
Hence, 1 paper costs -
€2.50/ 500 paper = €0.005 70 pgs x €0.005 per page = €0.35 per page
So, 500 RMAs x 70 pgs = 35,000 pgs 35,000pgs / 500pgs in 1 ream = 70…show more content… Others are simply set in their old habits and don’t like the idea of changing their routine for this new procedure. So, the Line Manager is faced with the challenge of figuring out how to convince the staff members into converting and access this new procedure. It is a known fact that staff members are not comfortable in working with uploading the documents electronically, but one might keep on insisting that this procedure might give a helping hand and seek to improve the service in a fast way. Staff members might also worry about the fact that there is no security when it comes to back up of documents and you won’t be able to access the documents if the system is down or the internet is slow and the staff members have to wait until the document has been fully loaded. It can also be unhealthy for the staff members since they are continually looking at the screen for a long period of time and this might cause health problems such as RSI (Repetitive Strain Injury). Also, papered documents are easily recycled while for electronic components such as the scanner can be dangerous. One might also comment that software programmes have now made it much easier to make additional notes, but nothing beats the notes one can write onto the paper which attracts more attention to others who are