INFORMATION TECHNOLOGY IN BUSINESS- TECH WORLD
Globalization it's not only brought the planet closer, but it's allowed the world's economy to become one interdependent system.
Information technology (IT) has become an important and integral part of every business. From multi-national corporations who maintain mainframe systems and databases to small businesses that own one computer, IT plays a pivotal role. The reasons for the omnipresent use of technology in business can best be determined by watching how it's getting used across the business world and the new entrant in IT is Artificial Intelligence or AI.
Communication for several companies, email is that the principal means of communication between employees, suppliers and customers. Email was one among the first drivers of the web, providing an easy and cheap means to communicate . Voice over internet protocol (VOIP) telephones and smart-phones offer even more high-tech ways for workers to speak.
Inventory Management: When it involves managing inventory, organizations got to maintain enough stock to satisfy demand without investing in additional than they require. Inventory management systems track the quantity of every item a corporation or a company maintains, triggering an order of additional stock when the quantities fall below a pre-determined amount. These systems are best to use when the inventory management system is connected to the point-of-sale (POS) system. The POS system ensures that every time an item is sold, one among that item is far away from the inventory count, creating a closed information loop between all departments.
Data Management: The times of huge file rooms, rows of filing cabinets and therefore the mailing of documents is fading fast. Today, most companies store digital versions of documents on cloud servers and storage devices. These documents become instantly available to everyone within the company, no matter of their geographical location. Companies are ready to store and maintain an incredible amount of historical data economically, and employees enjoy immediate access to the documents they have.
Management Information Systems: Storing data is merely a benefit if that data are often used effectively. Progressive companies use that data as a part of their strategic planning process also because the tactical execution of that strategy. Management Information Systems (MIS) enable companies to trace sales data, expenses and productivity levels. The information is often wont to track profitability over time, maximize return on investment and identify areas of improvement. Managers can track sales on each day to day, allowing them to directly react to lower-than-expected numbers by boosting employee productivity or reducing the worth of an item. As data is of utmost importance, now a days as defines many aspects of people living in a geographical location.
Customer Relationship Management: Companies are using IT to enhance the way they deal and manage customer relationships. Customer Relationship Management (CRM) systems capture every interaction a corporation has with a customer, in order that a more enriching experience is feasible. If a customer calls a call centre with a problem, the customer support representative are going to be ready to see what the customer has purchased, view shipping information, call up the training manual for that item and effectively answer the difficulty. The entire interaction is stored within the CRM system, able to be recalled if the customer calls again. The customer features a better, more focused experience and therefore the company benefits from improved productivity.
ADVANTAGES OF INFORMATION TECHNOLOGY
Globalization it's not only brought the planet closer, but it's allowed the world's economy to become one interdependent system. This means that we will not only share information quickly and efficiently, but we will also bring down barriers of linguistic and geographic boundaries. The world has developed into a worldwide village thanks to the assistance of data technology allowing countries like Chile and Japan who aren't only separated by distance but also by language to shares ideas and knowledge with one another.
Communication With the assistance of data technology, communication has also become cheaper, quicker, and more efficient. We can now communicate with anyone round the globe by simply text messaging them or sending them an email for an almost instantaneous response. The internet has also opened face to face direct communication from different parts of the planet because of the helps of video conferencing.
Cost effectiveness Information technology has helped to computerize the business process thus streamlining businesses to form them extremely cost-effective money-making machines. This successively increases productivity which ultimately gives rise to profits meaning better pay and fewer strenuous working conditions.
Bridging the cultural gap : Information technology has helped to bridge the cultural gap by helping people from different cultures to speak with each other, and permit for the exchange of views and concepts, thus increasing awareness and reducing prejudice.
More time it's made it possible for businesses to be open 24 x7 everywhere the world. This means that a business is often open anytime anywhere, making purchases from different countries easier and more convenient. It also means you'll have your goods delivered right to the doorstep with having to maneuver one muscle.
Creation of latest jobs : Probably the simplest advantage of data technology is that the creation of latest and interesting jobs. Computer programmers, Systems analyzers, Hardware and Software developers and Web designers are just a few of the various new employment opportunities created with the assistance of IT.
DISADVANTAGES OF INFORMATION TECHNOLOGY
Unemployment : While information technology may have streamlined the business process it's also created job redundancies, downsizing and outsourcing. This means that tons of lower and middle level jobs are done away with causing more people to become unemployed.
Privacy Though information technology may have made communication quicker, easier and more convenient, it's also bought along privacy issues. From telephone signal interceptions to email hacking, bank accounts hacking, people are now worried about their once private information becoming general knowledge.