MINICASE: Strategic Information Systems Planning at CFCU As you return to your hotel room in Athens, Georpia, residents through 21 branches, a capillary net work of tired from your first day at the new client site, you start ATMs and, since 2001, online banking facilities thinking about the challenge ahead. Your consultingCFCU's operation centered on personal banking rm was eral Credit Union (CHCU). The small regional bank checking accounts, to certificates of deposit, to mort- has long tradition in the community, having started gages. While CFCU was a conservative player, offer- in 1967 to serve the retail banking nceds of local ing the plodge of being a salc place for its customers s called in by a regional bank Campus Fed with a wealth of products, ranging from standard money, the recent evolution in banking both afforded of the exccutives. How am 1 going to modernize our the opportunity and created pressure to innovate and archaic infrastructure under these conditions?" reach new customers. As you suspected and yourThe chief executive officer (CHO) seemed to recog mecting today confirmed, however, che bank's main nize some of these issucs and thought your help would market were local residents with stable financial necds be instrumental in changing things for the hetter. In who would hencfit from new services such as online the opening meeting, he said, "Your firm is the best bill pay or flexible personal loans at this and you know our industry well. We need you Your consulting firm had been engaged by the i to assess our current operations and draft a strate- ent to "develop a strategic information systems plan. gic plan; we will follow it at once!" As you organize Yet the series of mcetings you had today left you with your notes, a nagging fceling overcomes you- the firm the distinct impression that the chent had already for-does not seem to have great unity of purpose at the mulated some ideas. In a meeting with you, the senior moment, so how does it expect you to be able ger all vice president of marketing said, "We're missing the members of the fieni on the same page? Plans are vac boat. Large national banks like HSBC target our cus- uous without the commitment of those who have to tomers with precise marketing offers. We must invest follow them. in business intelligence (BI) and customer relation you tell yourself, "one step at a time." You ship management (CRM) tools or we will not sur have certainly been in more difficult situations vive." From the director of tcchnology services, you heard mosly frustration: They want me to deliver a Discussion Questions world-class infrastructure on a shoestring. The chief 1. What do you see as the major pitfalls of the cur- financial oficer (CFO), to whom I report, makes me jusrify every information technology (TT) investment. budgeting and prioritization process is run? Return on investment (ROI) and net present valuecal- 2. What do you helieve are going to be the major culations are all he cares about! Yet two-thirds of mychallenges you will encounter on this assignment? budget goes to kec ping the lights on, and the remain- 3What should be your next step as you get to work rent manner in which the information systems tomorrow morning