BIS400 Business Information System Report Sample

BIS400 Business Information System Report

BrutEx Pty Ltd. started life during the CoViD-19, when three graduate MBAs suddenly found themselves retrenched and without work. Myron de Vries, Maree Pierce, and Erin von Bolt were colleagues at JP Morgan on the graduate programme, when the unthinkable happened; they were retrenched. The pay-out figure was considerable, amounting to $100k each, more than each graduate could have hoped for, especially in a difficult economic time. Myron, Maree, and Erin enjoyed a virtual send-off at one where team members were convivial, wishing them well. Ultimately, however, the excitement died down and the three friends found themselves on the Zoom call all by themselves. Myron quipped, “what are we going to do now?” Erin replied, “yes, it’s nice to have the money coming, but who knows how long that will last?” After a pregnant pause, Maree chimed in, “why don’t we start a business?”

The three friends then proceeded to discuss setting up their own crypto exchange. The recent skills and exposure to the finance industry was only slight but it buoyed them all the same to see if they could make something stick. The next Monday, the three friends went to an accountant, and registered the company BrutEx Pty Ltd. with all three being appointed directors, and assuming equal shareholdings of the company. On Tuesday morning, the newly minted directors—Myron, Maree, and Erin—were excited and full of energy. They had already consulted with an accountant, had the funds from their redundancies, and had a reasonable idea of how to build a customer base of investors and traders from their experience at JP Morgan in the various rotations they did. Excited to be working on a bona fide start-up, for all the business nous and connections they had, however, one critical element was lacking; information systems.

The directors of BrutEx Pty Ltd. are not confident with technology, although all have Instagram accounts, and routinely watch Netflix with their families and friends. All have also been using online banking for some time. The key thing lacking is their ability to connect technology with business requirements. By Tuesday night, the directors have decided to engage a consultant. Myron says, “oh, don’t worry, I know somebody learning about this stuff, and I will call them in the morning.” Wednesday morning, your phone is ringing early. You see it’s your friend Myron calling, so you pick it up. The two of you discuss the business venture, and you agree to help provide a consultative business case report. You know the amount of money available though the directors’ redundancy payouts, and you start to think about how a crypto exchange might work. You ask questions about the day-to-day running of the firm and note that the directors will probably want to be mobile. Already you have some ideas as to what the business will need, and since you have been in this unit, and studying very hard, the business impact of technology and the related issues are quite fresh in your mind. You assure your friend, Myron that you will have the business case to him by the due date and hang up the phone. A million things race through your mind, so you start by planning the structure of the report and make your notes. Please follow the steps:

Title Page

• Title: "The Founding of BrutEx Pty Ltd.: A Journey from Redundancy to Entrepreneurship"

• Submitted by: [Your Name]

• Submission date: [Date]

Executive Summary

• Briefly summarize the genesis of BrutEx Pty Ltd., highlighting the entrepreneurial leap taken by Myron de Vries, Maree Pierce, and Erin von Bolt in response to their redundancy from JP Morgan during the COVID-19 pandemic. Mention the initial capital from redundancy payouts and the decision to enter the crypto exchange market.

Table of Contents

• Include sections and sub-sections with page numbers.

Introduction

• Contextualize the scenario: the impact of COVID-19 on employment and the finance sector.

• Introduce the protagonists: Myron de Vries, Maree Pierce, and Erin von Bolt, detailing their background and the circumstances leading to their redundancy.

Background

• Detail the redundancy event, including the emotional and financial implications.

• Describe the formation of BrutEx Pty Ltd., including the decision-making process and the rationale behind choosing a crypto exchange business.

Business Idea and Planning

• Elaborate on the business idea: establishing a crypto exchange.

• Discuss the planning phase: consultation with an accountant, company registration, and division of responsibilities among the founders.

Challenges and Solutions

• Highlight the main challenge: lack of confidence in technology and connecting it with business requirements.

• Solution: Decision to engage a technology consultant to bridge the gap. Consultation and Business Case

Development

• Describe the consultation process with the technology consultant, emphasizing the discussion on business needs, mobility of operations, and the initial planning for technology integration.

• Mention the development of a business case report, focusing on the technical and operational needs of the crypto exchange.

Conclusion

• Summarize the entrepreneurial journey of the founders from redundancy to establishing their own business.
• Reflect on the significance of resilience, adaptability, and the willingness to seek expertise in areas outside one’s comfort zone.

References

Solution

Introduction

COVID-19 caused economic instability for companies and people. Financial markets, severely impacted by market changes and economic slowdowns, have grown steadily for years. Myron de Vries, Maree Pierce, and Erin von Bolt, all finance specialists who left JOB Morgan and were unemployed, were candidates. Myron, Maree, and Erin lost employment and experienced substantial career and family changes.

Since their futures were uncertain, the three had to work and risk starting a business. Due to their demand for recompense and interest in digital assets, BrutEx Pty Ltd., a cryptocurrency exchange, was founded. Despite their doctoral degrees in finance and reasonable experience in finance and technology, they had no prior exposure with cryptocurrencies but were open to learning more. This study explores how they went from redundancy to resilience as they started a new business, learnt how to face competition, and created a prototype business model for a competitive but dynamic industry.

Background

Career stagnation that Myron, Maree, and Erin faced is one of the typical and significant moments in their schedules. I experienced job loss since I had created a strong career with established relationships through JP Morgan’s program. However, each received redundancy package of $100,000 which more or less provided the means to ponder over onerous entrepreneurial chances.

Leaving the online party, three friends are left to talk in a Zoom call and think what they are going to do next. The idea to start one’s own business was initiated by Maree. After being involved with finance and seeing what new technologies could potentially offer, they started to wonder about the feasibility of a cryptocurrency exchange platform. They understood that with the development of cryptocurrencies and their gradual adoption as a form of payment, this sector opens exciting opportunities.

A company was founded by some commendable initiation work and the BrutEx Pty Ltd firm was initially established. They elected each other to directors and split the equity fifty/fifty thus swearing to work in harmony. This legal framework for MBA Assignment Expert provided the basis for the formation of a common vision, to proceed to embrace efforts that in the future the had to confront.

Business Idea and Planning

According to the founders of BrutEx, the platform was to be a simple and safe cryptocurrency exchange that would be working with both private traders and large institutional clients. Given the increasing adoption of cryptocurrencies, they realized they could create a reliable marketplace in a very promising market. Their primary mission was to create a company that would work on best practices involved in efficient trading of the crypto currency while at the same time implementing high security standards for the users of their platform (Ecer et al. 2024).

Concept Development: Thus, the founders realizing the great potential in the crypto market, intended to develop a useful platform which would resolve the issue of inconvenience in using the platform, transaction security, and compliance to the relevant government laws. They wanted to open a platform that targeted high traffic and included additional tools for both weak and strong-handed traders.

Detailed Planning Phase: They proceeded through a planning process which has included a consultation with an accountant in order to determine the favorable steps to take when incorporating a business. BrutEx Pty Ltd was recommended to be registered as a private company, its taxation and shareholders agreements as well as corporate duties explained to them by an accountant. With this groundwork in place, each founder took on specific responsibilities based on their strengths: Myron payed deep attention to the aspect of compliance, Maree payed attention to the aspect of marketing and business strategies and at the last, Erin was eagerly handling the customer relation aspect.

Resource Allocation: Having started with their seed capital the founders were careful in estimating their technology infrastructure, legal expenses and future marketing expenses. They understood that financial planning was crucial to guiding the spending and probing for massive profit-making within a reasonable period in BrutEx.

What they succeeded at was the strategic development and architecture of the business, giving them a good background on what was next; the stage of technology implementation.

Challenges and Solutions

The founders of BrutEx having their background in finance experienced major challenges especially in technology. He and his team understood the legalities of finance and trading but did not have the required IT background for creating and sustaining a powerful Cryptocurrency Exchange.

Challenge - Technical Knowledge Gap: The founders had prior exposure to financial platforms but working on these ideas was a new concept to them and they struggled to determine how to implement their business requirements in technical terms. Some of the intricacies of cryto exchange software, which include integrating secure wallets for users, or real-time order matching, were well above their pay grade.

Solution - Engaging a Technology Consultant: Understanding that he requires professional help, Myron called an experienced technologist in the fintech sphere. This consultant gave a brief that included details of the exact technical specifications needed for a safe and efficient transfer of information (Ng et al. 2023). The consultant was needed to act as an intermediary between the founders and technical challenges that are connected with establishing a crypto exchange.
This was a major plus of having the technology consultant to work with the founders as they strengthened on their major theme and the BrutEx would meet all the necessary standards in terms of security and performance.

Consultation and Business Case Development

The consultation session with the technology consultant was very important in BrutEx’s business venture analysis and working strategy. In depth discussions was held with the founders outlining the key areas specific to any crypto exchange platform which is security, scalability and mobility of users.
Business Needs Assessment: The consultant started by making an analysis on business strategy by analyzing BrutEx’s objectives. The matter of fact being the elaboration on such aspects as the characteristics of the platform, the target customer segments, and the expected transaction traffic. Scheduled for December 2017, this evaluation also helped to define the key technical specifications such as real-time data processing capabilities, the digital wallet, and highly secure user authentication mechanisms.

Mobility of Operations: Another goal of one of the founders was to ensure that BrutEx has a rather free-form operational structure, which makes it possible to operate remotely. Regarding technology, the consultant endorsed cloud solutions that enabled work remotely so that the founders could oversee some aspects of platform functioning, transactions, and answer clients’ question from any place.

Business Case Development: The consultant produced the following in a brief business case report form being presented to the management. These specification outlined the technical needs, possible threats to security and suggested ameliorations. It also described the first-time and subscription costs for platform creation, server operation, and client care. The report was instrumental to the technical configuration by enlightening the founders on general systematic procedures to follow in platform development.

The business case offered concrete recommendations for what must be done and how it can be implemented to turn BrutEx from a concept into a viable crypto exchange operation.

Business Model Understanding

The concept of operation of BrutEx aims at engaging in the provision of a cryptocurrency exchange service to both small and large clients in the market. The founders perceived that there were opportunities for healthy revenues in this sector, and as other digital assets became more recognized by consumers.

Customer Segments: BrutEx was initially designed for both the lower volume, less frequent trader represented by the small investor and the high volume trader such as institutional investors who needed additional security measures and more efficient trading capabilities. From the above customer segments, BrutEx had a variety of services to offer, all of which were done so with the intention of targeting the following.

Revenue Model: The revenue streams were trading commissions, paid upgrades for more sophisticated trading platforms, and warehousing of assets for high net worth clientele (Cavallo, Cosenz & Noto, 2024). He only used this approach to achieve the multiple sources of income as a way of support to BrutEx financial position and expansion.

The consultations conducted allowed developing a sound business model based on the founders’ experience in finance and observations during the implementation of the business idea.

Market Analysis

In constructing the market analysis, the creators of BrutEx conducted an investigation of the target market segment and the surrounding environment of the Cryptocurrency exchange industry. Conducting PEST analysis enabled the development of a market context that was crucial for the evaluation of present and future market trends and for the definition of BrutEx’s strategic directions to address a wide range of users in a saturated market environment.

Target Customer Segments: The team defined three basic categories of customers: individual investors, day-traders and institutional investors, who needed essentially different services and product characteristics. Addressing all of these requirements should therefore provide BrutEx with a large and stable customer clientèle.

Competitive Environment: The assessment of the competitors was conducted by the founders of the startup and included both market veterans and energetic upstarts. They also like to evaluate competitors by rates, processing time, safety measures, and communication services. From this they found out that BrutEx has the opportunity to compete primarily on issues of security and ease, as well as customer service. Through working out specific plans for these areas, BrutEx was preparing to gain new and maintain existing clients as it stepped into a rather saturated and highly dynamic market.

In the market analysis section, BrutEx gets a clear insight of the forces at play and is able to design suitable strategies to win new customers and retain existing customers in an industry that is steadily expanding.

Technology Strategy

A mature technology strategy spoke volumes for BrutEx business development plan because it would address functionality, security, and scalability of a platform. Fortunately the consultant sat down with the founders and design a solution that would suit BrutEx’s operational and market objectives. Collectively, they assessed different technology arrangements and identified those that would enable high transaction velocity without sacrificing throughput or customer experience. BrutEx was thus able to incorporate specific requirements with respect to initiation as well as growth primarily during this collaborative phase.

Platform Selection: Security and scalability were clear cornerstones for BrutEx, and the choice of a suitable platform embarked upon. The founders and consultant opted for an application that would easily be able to accommodate for a large number of transactions with less or no form of disruption and being very much capable of withstanding increases in traffic. Also, they were focused on the creation of an ergonomic, easy to use interface as well and on the directness off the user interface. It was not only a quest to entice a variety of users, but also a pursuit of a keeping users engaged and coming back. To emphasize user accessibility, their goal was to make BrutEx an exchange platform for both the newbies in the trading business and the experienced ones.

Security Measures: Security was a key priority for BrutEx since the crypto business is often targeted by hackers. Another precautionary measure that the team used to enhance user security measures were two factor authentication, strong encryption to the sensitive data and using cold storage system to minimize the digital asset exposure to malicious attacks online. These measures formed a good security platform thus improving users’ confidence in BrutEx while at the same time positioning BrutEx as a secure trading platform.

Continuous Innovation: Understanding the dynamics of the brand, the consultant focused on the urgency of the market evolution considering the specifics of cryptocurrencies. The technology plan suggested from time to time making changes to the platform of BrutEx in order to meet the competition and the evolving market needs. Moreover, BrutEx set up the conditions of a continual culture of innovation, which allowed the company to rapidly implement new features, adapt to changes in the regulations, and capitalize on new technologies in the near future.

From the business case, the technology strategy was clearly laid down to guide BrutEx’s platform construction, we could see that the platform was well-protected by a set of elaborate security measures, meanwhile, the platform was designed for scalability and an excellent user experience to support a long-term development plan.

Operational Planning

As for the objectives of daily dynamics, BrutEx’s operational planning provided the balance between the efficient ordinary working day and the founder’s preference for flexible and mobile working regimes. The planning phase highlighted some features important for effective functioning of the company with regard to the internal processes as well as the user interface of the platform to ensure that BrutEx successfully accomplishes its goal of becoming a user-oriented cryptocurrency exchange.

Client Onboarding and Support: As with any online ventures, an efficient and rapid method of sign-up was established as BrutEx’s top priority in making the consumer experience as painless as possible. This was complimented by a customer support team that was was sufficiently available to tend to client concerns and complaints as and when arose. Since BrutEx incorporated a friendly and versatile onboarding process, the company was confident that potential new customers would gain trust and be loyal to the platform where they signed up.

Order Processing and Asset Management: The implemented policies required were crucial for the smooth running of trading of and custody of crypto-assets. These processes helped BrutEx to fulfill the requirements of the regulations and security measures as to provide transactions’ clean sailing and assets’ proper management. By following these protocols, BrutEx was able to meet industry standards and establish itself among its users and gain regulatory compliance practices.

Remote Accessibility: There was a detailed operational plan that incorporated systems that enabled the founders physically distance themselves from the operations but have full operational control over the company hence the name BrutEx was founded. This feature allowed BrutEx to manage its operations regardless of the founders’ location and allowed them to address problems and manage the company in real-time.

By following this detailed operational plan, the company BrutEx created the grounds for its day-to-day functioning and laid the base for further expansion that would allow the team to consistently deliver a reliable and client-oriented cryptocurrency exchange.

Conclusion

The case of BrutEx Pty Ltd informs the story of three professionals who transformed a negative event to regain employment as well as establish a new business enterprise. After Myron, Maree, and Erin lost their jobs they decided to turn their lives around by specializing in a completely different field of finance- the digital currency exchange. They testified to a pro-change strategy, especially at a time when the economic climate is unfavourable, and the interdependence of creating opportunities rather than following mimetic structures.

It also shows that one should always consult a specialist when entering new territory. The identification of a technology expert allowed them to employ the overall financial expertise while addressing the operational issues of cryptocurrency exchange. It’s for this reason that BrutEx was able to be created and grown, since willingness to learn is such an important aspect of the organization’s foundation. Finally, BrutEx is the example of the success of the spirit of an entrepreneur and the cooperation and effective usage of resources for creating the business to fulfill the requirement of emergent market needs with personal growth and transformation of the self.

References

Journals

Ecer, F., Murat, T., Dinçer, H. and Yüksel, S., 2024. A fuzzy BWM and MARCOS integrated framework with Heronian function for evaluating cryptocurrency exchanges: a case study of Türkiye. Financial Innovation, 10(1), p.31.

Ng, E., Tan, B., Sun, Y. and Meng, T., 2023. The strategic options of fintech platforms: An overview and research agenda. Information Systems Journal, 33(2), pp.192-231.

Cavallo, A., Cosenz, F. and Noto, G., 2024. Business model scaling and growth hacking in digital entrepreneurship. Journal of Small Business Management, 62(4), pp.2058-2085.

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