Role of information technology in business planning

Majority of the companies rely on this for the purpose of data processing, fast communications and acquiring market intelligence. Information technology helps business improve the processes of business it drives revenue growth, helps them achieve cost efficiency and more importantly, ensures they increase revenue growth while maintaining a competitive edge in the market place. As a business owner, you have to decide whether information technology is for you or not and the only way to do this is by looking at some of the factors that make it essential.

Role of information technology in business planning

From multi-national corporations who maintain mainframe systems and databases to small businesses that own a single computer, IT plays a role. The reasons for the omnipresent use of computer technology in business can best be determined by looking at how it is being used across the business world.

Communication For many companies, email is the principal means of communication between employees, suppliers and customers. Email was one of the early drivers of the Internet, providing a simple and inexpensive means to communicate.

The Role of Technology in Business |

Over the years, a number of other communications tools have also evolved, allowing staff to communicate using live chat systems, online meeting tools and video-conferencing systems.

Voice over internet protocol VOIP telephones and smart-phones offer even more high-tech ways for employees to communicate. Inventory Management When it comes to managing inventory, organizations need to maintain enough stock to meet demand without investing in more than they require.

Inventory management systems track the quantity of each item a company maintains, triggering an order of additional stock when the quantities fall below a pre-determined amount. These systems are best used when the inventory management system is connected to the point-of-sale POS system.

The POS system ensures that each time an item is sold, one of that item is removed from the inventory count, creating a closed information loop between all departments.

role of information technology in business planning

Data Management The days of large file rooms, rows of filing cabinets and the mailing of documents is fading fast. Today, most companies store digital versions of documents on servers and storage devices.

These documents become instantly available to everyone in the company, regardless of their geographical location.

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Companies are able to store and maintain a tremendous amount of historical data economically, and employees benefit from immediate access to the documents they need.

Management Information Systems Storing data is only a benefit if that data can be used effectively. Progressive companies use that data as part of their strategic planning process as well as the tactical execution of that strategy.

Management Information Systems MIS enable companies to track sales data, expenses and productivity levels. The information can be used to track profitability over time, maximize return on investment and identify areas of improvement. Managers can track sales on a daily basis, allowing them to immediately react to lower-than-expected numbers by boosting employee productivity or reducing the cost of an item.

Customer Relationship Management Companies are using IT to improve the way they design and manage customer relationships.

Customer Relationship Management CRM systems capture every interaction a company has with a customer, so that a more enriching experience is possible. If a customer calls a call center with an issue, the customer support representative will be able to see what the customer has purchased, view shipping information, call up the training manual for that item and effectively respond to the issue.Technology has important effects on business operations.

No matter the size of your enterprise, technology has both tangible and intangible benefits that will help you make money and produce the results your customers demand. Employees in this job function as information technology professionals and are responsible for a variety of project, program, and portfolio assignments within a designated Program Management Office (PMO) strategic business objectives.

Persons in this role coordinate and lead a project team(s) for the duration of the project(s) and serve. The role of information technology in the organization: a review, model, and assessment Planning for electronic data interchange. Strategic Management Journal, 13 (7), Information technology as competitive advantage: the role of human, business, and technology resources.

Information technology plays an important role in today’s business world. Majority of the companies rely on this for the purpose of data processing, fast communications and acquiring market intelligence. The Importance Of Strategic Planning Information Systems Information Technology Essay.

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6 Important Objectives of Information Technology in Business

Disclaimer: For instance if the organization took the Business System Planning methodologies (BSP), therefore it could assist in interpreting the organization’s operating environment because during this methodology, the firm can.

Information technology must play a vital role in the design and manufacturing processes. Manufacturing information systems are among the most difficult both to develop and to implement.

TPSs are embedded in the production process or in other company processes.

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