SYNERGY FINANCIAL SOLUTIONS LTD

Synergy Financial Solutions Ltd. - Case Study



Abstract

Grid Partnering Programs provide an enormous opportunity to a company for extending its virtual services capabilities by capitalizing on public domain specialties. Synergy Finance Solutions Ltd. has potential flaws in its current trading software programs that serve the needs of private and corporate investors. Share programs work best on the availability of information and historical information processing capacity of the trading program. Synergy Ltd. can manage its limited data problem by focusing on Grid Partnering program with Universities. However, it raises concern towards security, privacy, trust, and integrity issues associated with the business development program.

Synergy Financial Solutions Ltd. - Case Study

Introduction

Synergy Finance Solutions Ltd aims at enhancing the service level of its computer share trading packages. Synergy Financials is seeking to enter into a Grid partnership with several University partners. Main objective of this public private partnership is to extend the reach and quality service delivery of the Synergy package. VO (Virtual Organisation) Grid information system is ubiquitous and indispensable way to allow optimum operation of the company. This project will enable the company to extend its capability for enhancing the quality services offering on its “PrivateInvestor” package. Meanwhile, it will enable the company to optimize its share analysis and provide enhanced analysis to its customers (Sehgal, 2011). Synergy will purchase spare computing time on nodes owned and managed by the Universities. However, this project presents great risk to the company with respect to information and security management issues. A comprehensive analysis of the Grid partnership proposal risks is presented below.

SECTION A: Risk Factors & Organisational Impact

From a risk perspective, Grid Partnership is a tool for risk control by the levels of automation and control system (Rebeiro, 2010; Wilshusen, 2011). However, this project presents additional risk factors that will result in questioning the effectiveness of the proposal. These risks are of various types and occur on all components of University "Grid" computing partner programs (McAfee, 2011; Rainer, 2007). This shows that project is high risk in nature. These risks are as follows:

Integrity and data management

Quality and reliability of Grid application developed by the company

The performance of interfaces between university partners

Access security and authorization

Control system operation for sensitive data sharing

Data and Information Privacy

Trust and security issues

In order to manage the risk associated with the project, Synergy Finance Solutions must deploy internal control procedures, an approach reinforced by cloud information systems. This approach based on a conventional structure of the project will strengthen internal control (Ifinedo, 2011). It includes a component process and a risk component aligned with the practices that aim at encrypting the sharing information protocols (Kolakowski, 2011; Rainer, 2007; Bulgurcu, 2010).

Data and information privacy factor shows that VO Grid Project development will create a negative impact on the business sustainability of Synergy Ltd. Privileged user access to virtual universities will result in sharing of sensitive and protected data with the partnering organizations (Yan, 2010; Svetlana, 2011).  Sensitive information processing possess an intrinsic level of risk for the Synergy ...