|
Computer – friend or foe?
The word computer is an overall word for a
configuration of machines working together to produce the desired
end-product. A computer set-up requires a device for feeding information into
a central processing unit, and a printer which provides the end-product in an
easily assimilable form. So often one visualises computers as 'thinking
machines', which they are not. All a computer can do is to work on a series
of instructions or programs produced in a form that it can understand. It is
primarily a two-stage device, which means that it can differentiate between
'yes' and 'no', 'go' and 'stop', or 'black' and 'white'. It recognises these
differences in a magnetic form, that is to say whether or not a particular
core has a north or south polarity. Binary arithmetic When feeding information into a computer,
therefore, we can use only two symbols but can transmit these symbols in
various ways: e.g. on magnetic tape, down a telephone line or by punched
paper tape. What we want to do, of course, is to put numbers and words into
the processing unit and we achieve this by translating the numbers and
letters into a form of arithmetic known as binary arithmetic. This arithmetic represents all numbers by
ones or noughts, or in paper tape format by holes or 'no holes' and, in a
similar manner, letters and various symbols such as %, +, —, &, etc.
Having decided on the job to be processed we write the programs to enable this to be achieved, these programs being either held
within the computer or fed in as above when required. The relative facts and
figures for processing are introduced in a similar manner. But what effect
does all this have on our daily lives ? Under our present system, if we load
the accountancy work of a branch onto a computer, the system will undertake a
whole variety of routine tasks that are at present carried out by hand or by
the use of accountancy machines. Let us look at a typical day's branch work One of the first things we do every morning
is to list the debit clearing twice and, when the totals have been agreed,
sort the cheques into alphabetical order and pay them. On a computer system,
when the cheques have been sorted and listed by the reader/sorter machines,
which read the E13B characters on the bottom of each cheque, the information
is stored on magnetic tape and all accounts are automatically updated (or
posted) subject to any cheques being returned unpaid. This in itself saves a
tremendous amount of work, including the necessity to machine ledger and
statement sheets and to call off balances. Need
for accuracy The rest of the day's work, having been put
through the waste, is punched onto tape on a special machine. This tape is sent
to the Computer Centre daily, being used to update all accounts. Standing
orders are dealt with in a similar manner to clearing cheques and, as well as
the branch being advised of orders due on a particular day, they are also
given the relative credit transfers for inclusion in the credit clearing.
Besides updating accounts and producing statistical information and balance
lists, the computer will perform a variety of other functions including the
calculation of debit products and the half-yearly production of interest and
commission that should, subject to consideration by the manager, be applied
to each account. It will thus be seen that the volume of routine accountancy
work handled by a branch is considerably reduced, which must lead to the
day's work being more interesting with much of the routine tedium removed. This brief description merely refers to the
present stage of automation developments. We shall soon see branches linked
directly to computer by land-lines. There will be remarkable developments
over the course of the next few years which will, in themselves, further
simplify routine work while providing all the statistical information
required by the Bank. It is not long since all these developments were
considered desirable but impractical, and as we move rapidly into the
automation age we can really regard ourselves as fortunate in that we are personally
going to enjoy the benefits. The establishment of computer systems requires a
tremendous preliminary effort, not only by technical staff but by all those
involved in the branches and in Head Office. Above all it requires accuracy
but it can be said confidently that such an effort is well worth while.
|