A presentation on the role of data and users in the experience of the Labuan International Business Finance Centre. In particular the registry application.
8. COR@L – Corporate Online Registry @ Labuan FSA
online system that promotes convenience and security
to the user with real-time access
consists of 6 registers/ modules
launched in June 2014
Two methods of payment system
FPX
Deposit account (disable)
External main users:
Trust companies
Auditors
Liquidators
Third parties
Overview of COR@L System
9. Engagement Strategies
1) Task-Force (Internal & External)
Role:
To understand the needs of specific group
(business analyst)
To reflect on the strengths and weaknesses of
past systems
To create the “wish-list”
To finalise the user requirements
10. 2) Effective Communication Channels
Weekly project updates with vendor/taskforce
Why?
- Tracking of project status (project managers)
- Avenue to discuss project issues/concerns
Periodical dialogue session with end-users
Why?
- Establish clear line of communication to gather
feedbacks (dedicated email)
- Transparent on the stage of rectification of system’s
issues
- Buy-in from stakeholders
11. (1) Migration of historical data and filings from previous
system and from hard copy of archived documents –
integrity of data;
(2) Inability of ROC to generate certain reports - requires
ICT’s assistance for reports to be produced;
(3) The system is unable to reconcile with the Group
Finance’s system; and
(4) System support for reported issues/incidents in
COR@L system
2
Result from Communications –
Concerns on the Existing System
12. 3) Conduct Survey on User’s Satisfaction
To gauge the performance level of the system
For continuous improvement of the system
When?
- 3 to 6 months upon go-live
- After one year of implementation
13. 1) Think Big
- List down all expectations/requirements and wish
lists
- Engage with vendor and stakeholders
- Classification - Must Have
- Good to Have
Why?
Future reference
Staggered implementation
Key Takeaways
14. 2) Engage! Engage! Engage!
Listen to your system users
Maintain good relationship with stakeholders
- system users
- Management
To achieve versatile and user friendly system
15. 3) Data Integrity
Achieved operating system with credible data
How?
- Data migration is a crucial part of any new system
- Choose best approach depending on the size of
data
- Labuan IBFC – special project for data cleansing
where we employed contract staff for the
purpose
16. 2
Data Migration
Diagram of Processes
Unclean Files
Compile all
documents in
folder
Different
Source
Identify
and
Compile
Scan and
Re-scan
improper
document
DocumentUploadintoCOR@L
Maintain File Notes
Maintain Filings
Identify
Upload
Create
Complete
Filing in
COR@L
Prepare the
completed listing
for ICT further
action
• Manual Files
(submission 1986-2003)
• myLofsa1
(submission 2004-2011)
• myLofsa2
(submission 2011-2014)
• M-Files (2012)
• Manual softcopy
submission
• Create folder based on Form/
documents
• Rename each form/document by
date of submission.
• Screening existing scanned form
• Prepare listing for migration
• Convert existing online form in
myLofsa1 (print Screen—paste to
Words—crop—convert to PDF—
Rename—save into related created
folder)
• Forms/Documents. i.e.
M&A and Audited Financial
statements
• Rescan incomplete
submission, i.e. 2nd page of
Form22.
• Rescan improper
document (inconsistent
layout)
• Rename all rescanned
documents/Forms and
save into related Folder.
• Arrange Form to check
any missing documents
Identify the missing attachment/Lodgement
Upload Form for missing attachment in filing
Create filing for missing filing of business services
and upload the attachment.
Backup in
server and
hard-disk
Click for Detailed Processes