National Institute Of Business Management

Individual Assignment Submission Form

Name of the Program ADBM(SAT)(P/T) 16.5P

Program Code 01 1102 165P
Participant’s Name Shanuka N.H.N

Index Number ADBM-SAT-165P-090

Title of the Assignment Outsourcing Industry

Module Name Management Information System

Module Number ADBM 205

Module Lecturer Mr. Nadeep Tharanga

Date of Submission 14th October 2017

Deadline 21st October 2017

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An Analysis of the Service Outsourcing of Millennium
Information Technologies

By

Shanuka NHN- ADBM-SAT-165P-090

A project report submitted in partial fulfillment of requirements of the subject

Management Information System conducted by NIBM

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 Acknowledgement

The success and the outcome of the assignment required a lot of guidance
& assistance from many people. I discussed about the issues with our lecturer Mr. Nadeep
Tharanga and his guidance helps to me complete this assignment successfully. And especially
thanks for Mr.Chanaka Mendis for helps to collect data about Millennium Information
Technologies.

Thank you.

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 Table of Contents

Introduction........................................................................................................ 1

Services of Organization ..................................................................................... 2

Outsourced Services ........................................................................................... 4

Advantages of Service Outsourcing ..................................................................... 5

Disadvantages of Service Outsourcing ................................................................ 6

Suggested services for Outsourcing..................................................................... 6

Conclusion .......................................................................................................... 7

References .......................................................................................................... 8

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Introduction

In 1996, Tony Weerasinghe started the system. When interpreting a CSE merger contract the
following year, the Millennium IT Software Development Program offers the ability to create
and install a direct configuration processing system for exchange. Millennium IT has become
the basis of software products in the capital market.

In 2000, Millennium IT was the regional distributor of Sun Microsystems for Bangladesh, Nepal
and the Maldives. Its capital market software has a number of consumers around the world and
in 2001 Millennium IT won their first united state contract and began operations in Boston.

In 2002 the company moved to the new headquarters, Silicon Valley Software University in Sri
Lanka. The company has been awarded contracts in Boston and Nairobi. It was expanded with
the opening of a subsidiary and an office in the United Kingdom in 2004. The following year, the
company undertook to offer automated equity, an ETF and options trading system to the
American stock exchange (AMEX).

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AMEX live sales began in 2006 and received United State patents for Business Innovation
Dynamically (BID).
Sri Lanka Telecom (SLT) is the leading national provider in Sri Lanka of fixed-line telephone
service. Millennium IT starts implementation of island wide intranet for national fixed line.
While united state operations increased with new Office in New Jersey City.
The integration of Millennium IT systems means the specialization of IT solutions for the
financial and telecom industries. Millennium IT provides IT infrastructure and consulting
services.

Services of Organization

 Millennium IT organization specialist for automation solutions in capital market and IT

solutions for financial, and manufacturing industries.

Our main services are,

 Business Analysis
 Software Development
 Quality Assurance (QA)
 Software Operations

 Business Analysis

Business analysis means analysis of activities consists of determining the needs

of the company and determining the solutions to the problems of company. Although the
general definition is the same, the uses and routines of different industries may change.

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 To understand the current state of the business, you can provide a basis for
identifying business needs or identifying business needs. However, companies often analyze
commercial solutions that meet the company's needs, objectives or objectives and validate
them.
In the IT industry, solutions often include a system development component, but
may include process improvement or organizational change.

 Software Development

Software development is doing the systematic development of software through

programs. In this process, not only to write the code in real terms, but also to define the
requirements and objectives, code what needs to be coded and develop what has been
accomplished .
Prior to the implementation of systems development strategies, the development of new
systems or products was often carried out by the management and use of technicians and
interpreters. However, the complexity of modern computer systems and products was long
required for an appropriate development process.

Phases of software Developments

 Identify the required software
 Analysis the software requirements
 Detailed specifications for software requirements
 Software designing
 Programming
 Testing
 Maintenance

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  Quality Assurance (QA)
Quality assurance is a systematic process to check whether a product or service
meets the specific requirements. There is a separate department for quality assurance for many
companies.

 Software Operation
The process and services administered by the IT Department, Software operations
support for internal and external clients for business processes.
Information technology operations that have been defined minimally, depending on how each
organization using computers can solve internal and customer needs. IT roots are selected for
the provision of efficient services according to the standard and the required cost. Computer
operations are generally considered to be separate computer applications. For example, there
are other computing activities, other than software development companies, operations and
software management.

Outsourced Services

What is Outsourcing?
Outsourcing involves separating specific business processes for a specific
outsourced service provider. All components of the organization's internal process cannot be

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taken into account. In addition, some processes are temporary. There is no intention to recruit
in-house professionals to perform these tasks.
Once the task is delegated to the supplier, it is the responsibility of the
tasks and the maintenance of the assets of the organization.

Outsourcing services often provide companies with a competitive

advantage, assign business processes to outsourcing companies and transfer outsourced
institutions to commercial operations provide higher quality and products.

Mainly Millennium IT organization is outsourced Quality Assurance (QA) part to Virtusa.

The problem is longer complex if the technology is not used to perform a
qualitative analysis. A low product affects the reputation and long-term income of businesses.
Therefore, it is essential to check essential quality assurance (QA) for product success.
The most effective way to ensure code quality is to develop the
development of quality assurance software. Quality independence is the main focus here. An
effective way to do this is to outsource the development of an internal software development
team (focusing on a unit test) and perform quality assurance at a company with the skills,
knowledge, expertise and experience to solve quality problems.

Advantages of Service Outsourcing

 Increase investment income and returns

 Reduce labor costs and improve economies of scale
 Increase the speed and quality of outsourced service performance
 Time management is released, and companies do not care about outsourced activities,
but companies can focus on key competencies
 Achieving knowledge for better innovation

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Disadvantages of Service Outsourcing

 Loss of control in the business process of the company

 Problems related to quality and time
 Expected results & benefits lower than results

Outsourced Other General Services

o Office Premises Maintenance – Abans Environmental (Private) LTD

 Cleaning Services
 Gardening Services
 Rubbish Management Services

o Security - Certis Lanka Security solutions (Private) LTD

Suggested services for Outsourcing

 Finance Department
It's part of an institution that manages money. The financial sector of the financial
division includes general planning, organization, auditing, accounting and control. The
Department of Finance generally publishes the Company's financial statements.
Organization can outsource Finance department. Because it helps for increase
transparency and release the government pressure and cost saving.

 Marketing Department
Marketing is heart of the organization. Because marketing is the main way money
come in to organization.

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 The marketing division plays a key role in promoting the activities of the
organization and its mission. Your company coordinates and produces all the materials
that represent the company. Your brand is creating a wonderful marketing team that
will help you see potential customers, investors and / or people in the market and
demonstrate your brand as a positive light.
If organization can find a good marketing agency for outsource marketing process by
low cost that is helps to cost reduction in an organization. And can use new marketing
concepts for increase company demand.

 Human Resources Department

The human resources department of the organization is responsible for various tasks.
Pay the salaries of employees of the Human Resources and Taxation Department as well
as the supervision of benefits and health administration, Human resources
management, legal compliance management, case investigations, training and
development. For many companies, the Human Resources Department is very complex
to perform various internal tasks. The companies that human activities carry out outside
the organization are supported by the company's financial results.

HR outsourcing helps to Risk management, cost reduction, employee development

and increase efficiency and effectiveness of staff.

Conclusion

All in all, outsourcing is a business methodology utilized by organizations, for reasons,

for example, the absence of skill, through the subcontracting of their business capacities to
outside associations.

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 Outsourcing is accepting much reaction from organizations all around the globe
nowadays, for example to seek cash infusion, reduce risk and operating costs, and so on.
Outsourcing doesn't work with every job.
Regular and conventional issues looked in outsourcing.
Lack of foresight and not as much as expected outcomes are a portion of the issues looked by
outsourcing players.
There are answers for these issues notwithstanding, All things considered; the eventual fate of
outsourcing seems, by all accounts, to be genuinely splendid and positive.

References

https://en.wikipedia.org/wiki/MillenniumIT

https://www.millenniumit.com/about-us

http://whatis.techtarget.com/reference/Learn-IT-Software-development

https://www.flatworldsolutions.com/articles/pros-cons-outsourcing.php

https://www.tutorialspoint.com/business_analysis/business_analysis_usecases.htm

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