Data Path Limited & Implementation of MIS in outsourcing

Abstract

Data-Path Limited is a Business Process Outsourcing Company which started in 2008 and works for International and Nation-wide businesses. It specializes on pension planning, financial planning and preparing various documents for their clients. There are many departments that oversees different aspect of the plan and collaborate with each other on delivering a complete service. However, some departments are independently controlled and does not require any support to present all the services to their clients. Moreover, it has also developed an incredibly capable software division that construct intricate software solution to resolve their problems. Due to the significant escalation of the outsourcing industry, Data-Path is also seeing tremendous positive growth. As a result, the client satisfaction and number of client has expanded in the recent path. As it is required to be conducted by a specialized individual, the potential to sustain amplifies because of the long term client retention rate. As it is such a niche industry, it is critical to find people who are experts in the area. Therefore, it creates a wall of specialized skills which is only acquired by a small number of organization. Which creates barriers for anyone and only a few can enter this industry. So, the clients tend to prefer getting their services from the same organization as they become familiar with each other’s pattern of work. In future, Data-Path may keep adding more value to their clients through introducing new services such Cash Balance plans and their unique software solutions. The principal purpose of MIS is to provide support to the business operations for any business. If the MIS system is inefficient and rigid, it will adversely affect the business operation. As a result, there must be new concepts and experiments conducted regularly. Therefore, resources are used at their potential which will result in greater success. This report has explored those challenges and scope of improvements to make the MIS process more sophisticated. It is also vital to maintain the technological elements in the organization. As it provides all the services remotely, the hardware requires adequate care and software need to be licensed consistently. Moreover, any hindrance in the internet connection or server can severely disrupt the workflow.

There are also several alarming factors apart from its perks. A rising number of legal change taking place so the experts needs to be updated with the latest information before working on any projects. Moreover, any governmental changes can detrimentally affect this industry as it is so directly regulated. Furthermore, if the financial market becomes instable, it can seriously damage the potential return resulting negative outcome for the industry. Only a person with the appropriate knowledge can work in this industry, so it is necessary to train every individual. As the information are entirely new, it is crucial to go through every details and master the concepts internally. It is also a never ending learning process as the rules and regulations are updated quite frequently. Finally, this report also makes some suggestions to improve the holistic operations and environment of organization. Therefore, the MIS system may consider all the moving parts and provide support to all the departments of the organization.